Cresset Asset Management LLC Acquires Shares of 4,851 Equitable Holdings, Inc. $EQH

Cresset Asset Management LLC bought a new position in shares of Equitable Holdings, Inc. (NYSE:EQH) during the first quarter, according to its most recent filing with the SEC. The fund bought 4,851 shares of the company’s stock, valued at approximately $253,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in EQH. MV Capital Management Inc. purchased a new stake in Equitable during the first quarter worth about $26,000. McIlrath & Eck LLC increased its stake in shares of Equitable by 154.3% during the 4th quarter. McIlrath & Eck LLC now owns 1,386 shares of the company’s stock worth $65,000 after purchasing an additional 841 shares during the last quarter. Wayfinding Financial LLC purchased a new stake in shares of Equitable during the 1st quarter worth approximately $80,000. Zions Bancorporation National Association UT bought a new stake in shares of Equitable in the 1st quarter worth approximately $86,000. Finally, Picton Mahoney Asset Management purchased a new position in Equitable in the first quarter valued at approximately $104,000. 92.70% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. Keefe, Bruyette & Woods raised their target price on Equitable from $63.00 to $64.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 9th. Wells Fargo & Company cut their price target on Equitable from $66.00 to $63.00 and set an “overweight” rating for the company in a research note on Friday, August 8th. UBS Group decreased their price objective on Equitable from $77.00 to $75.00 and set a “buy” rating for the company in a report on Tuesday, May 27th. Morgan Stanley lowered their price objective on Equitable from $68.00 to $67.00 and set an “overweight” rating on the stock in a research note on Monday, August 18th. Finally, JPMorgan Chase & Co. increased their target price on shares of Equitable from $55.00 to $65.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 8th. Nine research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, Equitable has an average rating of “Moderate Buy” and an average price target of $64.90.

Insider Activity

In related news, CAO William James Iv Eckert sold 4,000 shares of the company’s stock in a transaction that occurred on Friday, June 20th. The shares were sold at an average price of $53.09, for a total transaction of $212,360.00. Following the sale, the chief accounting officer owned 19,827 shares of the company’s stock, valued at approximately $1,052,615.43. This represents a 16.79% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Bertram L. Scott sold 2,600 shares of the firm’s stock in a transaction on Thursday, August 21st. The shares were sold at an average price of $51.86, for a total transaction of $134,836.00. Following the completion of the transaction, the director directly owned 26,001 shares of the company’s stock, valued at approximately $1,348,411.86. The trade was a 9.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 143,090 shares of company stock valued at $7,549,152. Corporate insiders own 1.10% of the company’s stock.

Equitable Stock Performance

NYSE:EQH opened at $54.10 on Wednesday. The business’s fifty day moving average is $53.17 and its 200 day moving average is $52.12. The firm has a market cap of $16.20 billion, a price-to-earnings ratio of 43.63 and a beta of 1.14. The company has a debt-to-equity ratio of 4.94, a quick ratio of 0.14 and a current ratio of 0.14. Equitable Holdings, Inc. has a 52-week low of $37.99 and a 52-week high of $56.61.

Equitable Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, August 12th. Stockholders of record on Tuesday, August 5th were given a dividend of $0.27 per share. The ex-dividend date was Tuesday, August 5th. This represents a $1.08 annualized dividend and a dividend yield of 2.0%. Equitable’s dividend payout ratio is currently 87.10%.

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.