Equitable Holdings, Inc. (NYSE:EQH) Position Raised by abrdn plc

abrdn plc grew its position in shares of Equitable Holdings, Inc. (NYSE:EQH) by 98.5% in the 4th quarter, HoldingsChannel.com reports. The fund owned 122,993 shares of the company’s stock after purchasing an additional 61,047 shares during the quarter. abrdn plc’s holdings in Equitable were worth $4,096,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of EQH. Pzena Investment Management LLC raised its stake in Equitable by 10.0% during the 3rd quarter. Pzena Investment Management LLC now owns 26,902,560 shares of the company’s stock valued at $763,764,000 after acquiring an additional 2,450,484 shares in the last quarter. The Manufacturers Life Insurance Company raised its stake in shares of Equitable by 4,172.5% during the third quarter. The Manufacturers Life Insurance Company now owns 593,017 shares of the company’s stock valued at $16,836,000 after purchasing an additional 579,137 shares in the last quarter. Vanguard Group Inc. lifted its holdings in Equitable by 1.1% in the third quarter. Vanguard Group Inc. now owns 37,565,700 shares of the company’s stock worth $1,066,490,000 after purchasing an additional 402,720 shares during the period. Lazard Asset Management LLC lifted its holdings in Equitable by 50.2% in the third quarter. Lazard Asset Management LLC now owns 940,392 shares of the company’s stock worth $26,696,000 after purchasing an additional 314,468 shares during the period. Finally, Levin Capital Strategies L.P. bought a new position in Equitable in the 3rd quarter valued at about $7,855,000. Institutional investors own 92.70% of the company’s stock.

Equitable Stock Down 0.6 %

Shares of NYSE EQH opened at $36.89 on Monday. Equitable Holdings, Inc. has a 12 month low of $21.89 and a 12 month high of $38.44. The company has a market cap of $12.09 billion, a price-to-earnings ratio of 10.91 and a beta of 1.42. The business has a fifty day simple moving average of $35.90 and a 200-day simple moving average of $32.68.

Equitable (NYSE:EQH) last posted its quarterly earnings data on Tuesday, February 6th. The company reported $1.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.17 by $0.16. The company had revenue of $3.55 billion for the quarter, compared to analyst estimates of $3.50 billion. As a group, sell-side analysts expect that Equitable Holdings, Inc. will post 6.01 EPS for the current fiscal year.

Equitable Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 4th. Investors of record on Monday, February 26th were paid a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 2.39%. The ex-dividend date was Friday, February 23rd. Equitable’s dividend payout ratio is 26.04%.

Insiders Place Their Bets

In other news, insider Nick Lane sold 20,000 shares of the stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $34.02, for a total value of $680,400.00. Following the completion of the sale, the insider now owns 144,132 shares in the company, valued at $4,903,370.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Equitable news, insider Nick Lane sold 20,000 shares of Equitable stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $34.02, for a total transaction of $680,400.00. Following the transaction, the insider now owns 144,132 shares of the company’s stock, valued at approximately $4,903,370.64. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Mark Pearson sold 60,000 shares of the stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $32.38, for a total transaction of $1,942,800.00. Following the completion of the sale, the chief executive officer now directly owns 619,625 shares of the company’s stock, valued at $20,063,457.50. The disclosure for this sale can be found here. In the last three months, insiders have sold 241,907 shares of company stock worth $8,338,649. Corporate insiders own 1.02% of the company’s stock.

Wall Street Analyst Weigh In

EQH has been the subject of a number of research analyst reports. Keefe, Bruyette & Woods upped their price target on shares of Equitable from $39.00 to $41.00 and gave the stock a “market perform” rating in a research note on Wednesday, April 10th. UBS Group upped their target price on Equitable from $34.00 to $40.00 and gave the stock a “buy” rating in a research report on Wednesday, January 10th. Morgan Stanley lifted their price target on Equitable from $39.00 to $41.00 and gave the company an “overweight” rating in a research report on Monday, April 15th. Jefferies Financial Group boosted their price objective on Equitable from $42.00 to $45.00 and gave the stock a “buy” rating in a research note on Friday, March 22nd. Finally, JPMorgan Chase & Co. cut Equitable from an “overweight” rating to a “neutral” rating and raised their target price for the company from $35.00 to $36.00 in a research note on Wednesday, January 3rd. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, Equitable has an average rating of “Moderate Buy” and a consensus price target of $39.67.

Equitable Profile

Equitable Holdings, Inc, together with its consolidated subsidiaries, operates as a diversified financial services company worldwide. The company operates through six segments: Individual Retirement, Group Retirement, Investment Management and Research, Protection Solutions, Wealth Management, and Legacy.