Shell Asset Management Co. Reduces Holdings in Equitable Holdings, Inc. (NYSE:EQH)

Shell Asset Management Co. decreased its holdings in shares of Equitable Holdings, Inc. (NYSE:EQHFree Report) by 36.6% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 36,304 shares of the company’s stock after selling 21,000 shares during the period. Shell Asset Management Co.’s holdings in Equitable were worth $1,209,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Quadrature Capital Ltd purchased a new stake in Equitable in the fourth quarter valued at approximately $2,628,000. Seven Eight Capital LP purchased a new stake in Equitable in the fourth quarter valued at approximately $6,020,000. Northern Trust Corp boosted its position in Equitable by 24.6% in the fourth quarter. Northern Trust Corp now owns 3,958,417 shares of the company’s stock valued at $131,815,000 after buying an additional 781,426 shares during the last quarter. American International Group Inc. boosted its position in Equitable by 6,869.6% in the fourth quarter. American International Group Inc. now owns 433,020 shares of the company’s stock valued at $14,420,000 after buying an additional 426,807 shares during the last quarter. Finally, Tower Research Capital LLC TRC boosted its position in Equitable by 47.8% in the fourth quarter. Tower Research Capital LLC TRC now owns 46,796 shares of the company’s stock valued at $1,558,000 after buying an additional 15,137 shares during the last quarter. Hedge funds and other institutional investors own 92.70% of the company’s stock.

Equitable Price Performance

Shares of EQH stock opened at $40.66 on Tuesday. The company has a market cap of $13.22 billion, a price-to-earnings ratio of 12.59 and a beta of 1.41. The stock has a 50 day simple moving average of $38.80 and a 200-day simple moving average of $35.38. Equitable Holdings, Inc. has a 1-year low of $24.65 and a 1-year high of $41.64.

Equitable (NYSE:EQHGet Free Report) last announced its earnings results on Tuesday, April 30th. The company reported $1.43 earnings per share for the quarter, topping the consensus estimate of $1.31 by $0.12. The business had revenue of $2.23 billion for the quarter, compared to analyst estimates of $3.59 billion. The company’s quarterly revenue was down 5.4% compared to the same quarter last year. During the same period in the previous year, the company earned $0.96 earnings per share. Analysts anticipate that Equitable Holdings, Inc. will post 6.12 earnings per share for the current fiscal year.

Equitable Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 10th. Investors of record on Monday, June 3rd were given a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 2.36%. This is a boost from Equitable’s previous quarterly dividend of $0.22. The ex-dividend date was Monday, June 3rd. Equitable’s payout ratio is presently 29.72%.

Analysts Set New Price Targets

A number of research analysts have issued reports on EQH shares. Truist Financial boosted their price target on Equitable from $40.00 to $44.00 and gave the company a “buy” rating in a report on Thursday, May 2nd. Morgan Stanley boosted their price target on Equitable from $39.00 to $41.00 and gave the company an “overweight” rating in a report on Monday, April 15th. Jefferies Financial Group boosted their price target on Equitable from $42.00 to $45.00 and gave the company a “buy” rating in a report on Friday, March 22nd. Keefe, Bruyette & Woods boosted their price target on Equitable from $41.00 to $43.00 and gave the company a “market perform” rating in a report on Tuesday, May 7th. Finally, Evercore ISI boosted their price target on Equitable from $42.00 to $46.00 and gave the company an “outperform” rating in a report on Thursday, April 11th. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, Equitable presently has an average rating of “Moderate Buy” and an average target price of $40.10.

Get Our Latest Analysis on EQH

Insider Buying and Selling

In related news, Director Bertram L. Scott sold 7,000 shares of the business’s stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $35.29, for a total transaction of $247,030.00. Following the completion of the sale, the director now directly owns 20,902 shares in the company, valued at $737,631.58. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, COO Jeffrey J. Hurd sold 9,969 shares of the business’s stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $35.32, for a total transaction of $352,105.08. Following the completion of the sale, the chief operating officer now directly owns 151,031 shares in the company, valued at $5,334,414.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Bertram L. Scott sold 7,000 shares of the company’s stock in a transaction on Monday, March 18th. The shares were sold at an average price of $35.29, for a total value of $247,030.00. Following the completion of the sale, the director now owns 20,902 shares of the company’s stock, valued at $737,631.58. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 239,411 shares of company stock worth $8,980,534. 1.10% of the stock is owned by corporate insiders.

Equitable Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Equitable (NYSE:EQH)

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