Boothbay Fund Management LLC Decreases Holdings in Equitable Holdings, Inc. (NYSE:EQH)

Boothbay Fund Management LLC cut its holdings in shares of Equitable Holdings, Inc. (NYSE:EQH – Get Rating) by 8.0% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 9,679 shares of the company’s stock after selling 846 shares during the quarter. Boothbay Fund Management LLC’s holdings in Equitable were worth $255,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in EQH. CWM LLC increased its holdings in Equitable by 29.6% in the 3rd quarter. CWM LLC now owns 1,501 shares of the company’s stock worth $40,000 after acquiring an additional 343 shares during the last quarter. EverSource Wealth Advisors LLC increased its holdings in Equitable by 80.9% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 1,588 shares of the company’s stock worth $43,000 after acquiring an additional 710 shares during the last quarter. Fifth Third Bancorp increased its holdings in Equitable by 1,608.8% in the 2nd quarter. Fifth Third Bancorp now owns 1,743 shares of the company’s stock worth $45,000 after acquiring an additional 1,641 shares during the last quarter. American International Group Inc. increased its holdings in Equitable by 9.3% in the 2nd quarter. American International Group Inc. now owns 4,007 shares of the company’s stock worth $104,000 after acquiring an additional 342 shares during the last quarter. Finally, Asahi Life Asset Management CO. LTD. purchased a new stake in Equitable in the 3rd quarter worth about $150,000. 93.17% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

EQH has been the subject of several analyst reports. Jefferies Financial Group downgraded Equitable from a “buy” rating to a “hold” rating and cut their target price for the stock from $36.00 to $34.00 in a research note on Friday, December 9th. Citigroup raised their target price on Equitable from $37.00 to $38.00 in a research note on Wednesday, November 16th. Wells Fargo & Company raised their target price on Equitable from $36.00 to $37.00 and gave the stock an “overweight” rating in a research note on Monday, February 13th. Royal Bank of Canada downgraded Equitable from an “outperform” rating to a “sector perform” rating and cut their target price for the stock from $34.00 to $33.00 in a research note on Tuesday, December 6th. Finally, TheStreet downgraded Equitable from a “b” rating to a “c+” rating in a research note on Wednesday, February 8th. Three research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $37.67.

Equitable Trading Up 0.7 %

Shares of EQH opened at $32.15 on Friday. The company has a market cap of $11.63 billion, a PE ratio of 7.34 and a beta of 1.44. The stock has a 50-day moving average price of $30.96 and a 200-day moving average price of $30.08. Equitable Holdings, Inc. has a 12-month low of $24.61 and a 12-month high of $33.24.

Equitable (NYSE:EQH – Get Rating) last released its earnings results on Wednesday, February 8th. The company reported $1.11 earnings per share for the quarter, missing analysts’ consensus estimates of $1.29 by ($0.18). The company had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $3.27 billion. Equitable’s revenue was down 48.3% compared to the same quarter last year. During the same period last year, the firm earned $1.54 EPS. As a group, analysts predict that Equitable Holdings, Inc. will post 5.68 earnings per share for the current year.

Equitable Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 6th. Investors of record on Monday, February 27th will be given a $0.20 dividend. The ex-dividend date is Friday, February 24th. This represents a $0.80 dividend on an annualized basis and a yield of 2.49%. Equitable’s payout ratio is 18.26%.

Equitable Profile

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Equitable Holdings, Inc engages in the provision of financial services. It operates through the following segment: Individual Retirement, Group Retirement, Investment Management and Research, and Protection Solutions. The Individual Retirement segment includes annuity products, which primarily meet the needs of individuals saving for retirement or seeking retirement income.