Rhumbline Advisers decreased its stake in Equitable Holdings, Inc. (NYSE:EQH – Free Report) by 2.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 398,976 shares of the company’s stock after selling 9,916 shares during the period. Rhumbline Advisers owned 0.11% of Equitable worth $10,130,000 at the end of the most recent reporting period.
Several other hedge funds have also made changes to their positions in the stock. Commonwealth Equity Services LLC bought a new stake in shares of Equitable in the 1st quarter worth approximately $290,000. Citigroup Inc. raised its stake in Equitable by 13.7% during the 1st quarter. Citigroup Inc. now owns 281,709 shares of the company’s stock valued at $7,153,000 after acquiring an additional 33,995 shares in the last quarter. Private Advisor Group LLC bought a new stake in Equitable during the 1st quarter valued at $260,000. AMG National Trust Bank raised its stake in Equitable by 9.1% during the 1st quarter. AMG National Trust Bank now owns 37,371 shares of the company’s stock valued at $949,000 after acquiring an additional 3,132 shares in the last quarter. Finally, First National Advisers LLC raised its stake in Equitable by 50.7% during the 1st quarter. First National Advisers LLC now owns 12,812 shares of the company’s stock valued at $325,000 after acquiring an additional 4,308 shares in the last quarter. Institutional investors own 92.70% of the company’s stock.
Analysts Set New Price Targets
Several analysts have weighed in on the company. Barclays lifted their target price on Equitable from $31.00 to $33.00 and gave the company an “overweight” rating in a research note on Monday, August 7th. Wells Fargo & Company lifted their price target on Equitable from $38.00 to $41.00 and gave the company an “overweight” rating in a research report on Tuesday, August 15th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $36.14.
Equitable Stock Up 1.4 %
Shares of NYSE EQH opened at $29.19 on Monday. Equitable Holdings, Inc. has a 52-week low of $21.89 and a 52-week high of $33.24. The stock has a market capitalization of $10.14 billion, a price-to-earnings ratio of 29.48 and a beta of 1.40. The stock’s fifty day simple moving average is $27.97 and its 200 day simple moving average is $26.87.
Equitable (NYSE:EQH – Get Free Report) last issued its quarterly earnings results on Wednesday, August 2nd. The company reported $1.17 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.17. The business had revenue of $3.34 billion for the quarter, compared to analysts’ expectations of $3.39 billion. As a group, analysts anticipate that Equitable Holdings, Inc. will post 4.94 earnings per share for the current year.
Equitable Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Monday, August 14th. Stockholders of record on Monday, August 7th were issued a dividend of $0.22 per share. The ex-dividend date was Friday, August 4th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 3.01%. Equitable’s dividend payout ratio is 88.89%.
Equitable Holdings, Inc, together with its consolidated subsidiaries, operates as a diversified financial services company worldwide. The company operates through four segments: Individual Retirement, Group Retirement, Investment Management and Research, and Protection Solutions. The Individual Retirement segment offers a suite of variable annuity products primarily to affluent and high net worth individuals.
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