&Partners Grows Stake in Equitable Holdings, Inc. (NYSE:EQH)

&Partners lifted its position in Equitable Holdings, Inc. (NYSE:EQH) by 0.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 34,328 shares of the company’s stock after acquiring an additional 254 shares during the quarter. &Partners’ holdings in Equitable were worth $1,403,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. New Covenant Trust Company N.A. purchased a new stake in Equitable during the first quarter valued at approximately $28,000. Lindbrook Capital LLC boosted its holdings in Equitable by 143.1% in the fourth quarter. Lindbrook Capital LLC now owns 1,004 shares of the company’s stock worth $33,000 after acquiring an additional 591 shares in the last quarter. LRI Investments LLC purchased a new stake in shares of Equitable during the first quarter worth about $45,000. GAMMA Investing LLC acquired a new position in shares of Equitable during the fourth quarter valued at about $50,000. Finally, Harvest Fund Management Co. Ltd acquired a new position in Equitable during the 4th quarter valued at approximately $64,000. Hedge funds and other institutional investors own 92.70% of the company’s stock.

Equitable Trading Up 2.7 %

NYSE EQH opened at $41.62 on Friday. The stock has a market capitalization of $13.54 billion, a price-to-earnings ratio of 12.89 and a beta of 1.43. The stock has a 50-day moving average of $40.86 and a 200 day moving average of $38.50. Equitable Holdings, Inc. has a twelve month low of $24.65 and a twelve month high of $44.50.

Equitable (NYSE:EQH) last released its earnings results on Tuesday, July 30th. The company reported $1.43 EPS for the quarter, topping analysts’ consensus estimates of $1.40 by $0.03. The company had revenue of $3.51 billion for the quarter, compared to analysts’ expectations of $3.71 billion. The firm’s revenue for the quarter was up 47.7% on a year-over-year basis. During the same period in the prior year, the firm earned $1.17 EPS. Equities analysts predict that Equitable Holdings, Inc. will post 6.05 EPS for the current fiscal year.

Equitable Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 13th. Stockholders of record on Tuesday, August 6th were given a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.31%. The ex-dividend date was Tuesday, August 6th. Equitable’s dividend payout ratio (DPR) is 29.72%.

Wall Street Analyst Weigh In

EQH has been the subject of a number of research analyst reports. UBS Group lowered Equitable from a “buy” rating to a “neutral” rating and raised their target price for the stock from $40.00 to $43.00 in a research note on Tuesday, June 18th. Wells Fargo & Company reduced their price target on shares of Equitable from $45.00 to $43.00 and set an “overweight” rating for the company in a research report on Monday, August 12th. Citigroup increased their price objective on shares of Equitable from $41.00 to $53.00 and gave the stock a “buy” rating in a research note on Tuesday, July 23rd. Keefe, Bruyette & Woods boosted their target price on shares of Equitable from $43.00 to $44.00 and gave the company a “market perform” rating in a research report on Monday, July 8th. Finally, Morgan Stanley lowered their price target on shares of Equitable from $48.00 to $46.00 and set an “overweight” rating on the stock in a report on Monday, August 19th. Four investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $44.09.

Insider Transactions at Equitable

In related news, COO Jeffrey J. Hurd sold 9,969 shares of the company’s stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $43.09, for a total transaction of $429,564.21. Following the completion of the sale, the chief operating officer now owns 111,552 shares of the company’s stock, valued at approximately $4,806,775.68. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 1.10% of the company’s stock.

About Equitable

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.