Envestnet Asset Management Inc. Has $19.62 Million Stock Holdings in Equitable Holdings, Inc. $EQH

Envestnet Asset Management Inc. grew its stake in shares of Equitable Holdings, Inc. (NYSE:EQH) by 23.8% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 386,333 shares of the company’s stock after purchasing an additional 74,312 shares during the period. Envestnet Asset Management Inc. owned about 0.13% of Equitable worth $19,618,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. True Wealth Design LLC raised its stake in shares of Equitable by 592.6% during the 2nd quarter. True Wealth Design LLC now owns 561 shares of the company’s stock valued at $31,000 after purchasing an additional 480 shares during the period. Root Financial Partners LLC bought a new stake in shares of Equitable in the 3rd quarter worth approximately $36,000. Hilltop National Bank bought a new position in Equitable in the 3rd quarter worth about $37,000. Geneos Wealth Management Inc. grew its holdings in shares of Equitable by 92.6% during the first quarter. Geneos Wealth Management Inc. now owns 882 shares of the company’s stock valued at $46,000 after buying an additional 424 shares during the last quarter. Finally, MAI Capital Management increased its holdings in shares of Equitable by 64.0% in the 2nd quarter. MAI Capital Management now owns 938 shares of the company’s stock worth $53,000 after purchasing an additional 366 shares in the last quarter. Hedge funds and other institutional investors own 92.70% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on EQH. Wall Street Zen cut shares of Equitable from a “hold” rating to a “sell” rating in a report on Sunday, November 16th. Zacks Research lowered shares of Equitable from a “hold” rating to a “strong sell” rating in a research report on Thursday, January 22nd. The Goldman Sachs Group set a $60.00 price objective on shares of Equitable in a report on Monday, January 5th. Raymond James Financial set a $60.00 target price on shares of Equitable in a research note on Monday, January 5th. Finally, Barclays decreased their target price on shares of Equitable from $58.00 to $57.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 4th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $62.42.

Insider Transactions at Equitable

In other Equitable news, CEO Mark Pearson sold 39,700 shares of Equitable stock in a transaction on Tuesday, November 18th. The shares were sold at an average price of $43.14, for a total transaction of $1,712,658.00. Following the completion of the sale, the chief executive officer owned 676,540 shares of the company’s stock, valued at $29,185,935.60. This trade represents a 5.54% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, COO Jeffrey J. Hurd sold 6,790 shares of the stock in a transaction that occurred on Thursday, January 15th. The stock was sold at an average price of $47.65, for a total value of $323,543.50. Following the completion of the transaction, the chief operating officer owned 55,023 shares in the company, valued at $2,621,845.95. This represents a 10.98% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 203,770 shares of company stock worth $9,462,206. Corporate insiders own 1.10% of the company’s stock.

Equitable Price Performance

EQH stock opened at $44.35 on Friday. Equitable Holdings, Inc. has a 1 year low of $41.39 and a 1 year high of $56.61. The firm has a market cap of $12.71 billion, a P/E ratio of -9.20, a price-to-earnings-growth ratio of 0.34 and a beta of 1.12. The company has a debt-to-equity ratio of 16.42, a quick ratio of 0.13 and a current ratio of 0.10. The stock has a 50-day simple moving average of $47.00 and a 200-day simple moving average of $48.89.

Equitable Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 11th. Investors of record on Wednesday, March 4th will be paid a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date is Wednesday, March 4th. Equitable’s payout ratio is currently -22.41%.

Equitable declared that its board has initiated a stock repurchase program on Wednesday, February 11th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the company to reacquire up to 7.7% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board believes its stock is undervalued.

About Equitable

Equitable Holdings, Inc (NYSE: EQH) is a leading provider of life insurance, annuities and retirement plan services in the United States. Through its insurance subsidiary, AXA Equitable Life Insurance Company, the firm offers a broad range of permanent and term life insurance products designed to help individuals and families manage risk and build wealth. In addition, Equitable provides fixed, variable and indexed annuity solutions to support income planning in retirement, as well as a suite of group retirement and pension plan services for employers and plan sponsors.

The company also maintains an asset management arm that delivers investment strategies across equities, fixed income and alternative asset classes for both retail and institutional clients.