Dimensional Fund Advisors LP cut its holdings in Equitable Holdings, Inc. (NYSE:EQH – Free Report) by 2.2% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,139,198 shares of the company’s stock after selling 91,187 shares during the quarter. Dimensional Fund Advisors LP’s holdings in Equitable were worth $105,082,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also made changes to their positions in the business. Treasurer of the State of North Carolina boosted its stake in shares of Equitable by 0.7% in the first quarter. Treasurer of the State of North Carolina now owns 161,148 shares of the company’s stock worth $4,092,000 after acquiring an additional 1,150 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Equitable by 8.0% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 400,240 shares of the company’s stock valued at $10,162,000 after purchasing an additional 29,604 shares during the period. Bank of Nova Scotia raised its position in Equitable by 63.5% in the fourth quarter. Bank of Nova Scotia now owns 13,541 shares of the company’s stock valued at $389,000 after purchasing an additional 5,259 shares during the period. Seeyond increased its holdings in Equitable by 134.0% during the 4th quarter. Seeyond now owns 9,661 shares of the company’s stock worth $277,000 after purchasing an additional 5,532 shares during the period. Finally, Simplicity Solutions LLC purchased a new stake in Equitable during the 1st quarter worth about $457,000. 92.70% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Ratings Changes
Several equities research analysts have weighed in on the company. Wells Fargo & Company upped their price target on Equitable from $38.00 to $41.00 and gave the stock an “overweight” rating in a report on Tuesday, August 15th. Barclays upped their price target on Equitable from $31.00 to $33.00 and gave the stock an “overweight” rating in a report on Monday, August 7th. Three analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $36.14.
Equitable Stock Performance
NYSE:EQH opened at $27.86 on Friday. The stock has a 50-day simple moving average of $28.12 and a 200-day simple moving average of $26.79. The stock has a market cap of $9.68 billion, a P/E ratio of 28.14 and a beta of 1.40. Equitable Holdings, Inc. has a 1 year low of $21.89 and a 1 year high of $33.24.
Equitable (NYSE:EQH – Get Free Report) last released its quarterly earnings data on Wednesday, August 2nd. The company reported $1.17 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.17. The business had revenue of $3.34 billion for the quarter, compared to analyst estimates of $3.39 billion. On average, equities research analysts predict that Equitable Holdings, Inc. will post 4.94 EPS for the current year.
Equitable Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 14th. Stockholders of record on Monday, August 7th were given a dividend of $0.22 per share. The ex-dividend date of this dividend was Friday, August 4th. This represents a $0.88 annualized dividend and a dividend yield of 3.16%. Equitable’s dividend payout ratio is currently 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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