DnB Asset Management AS Has $2.51 Million Holdings in Equitable Holdings, Inc. (NYSE:EQH)

DnB Asset Management AS raised its position in Equitable Holdings, Inc. (NYSE:EQHGet Rating) by 56.3% during the second quarter, Holdings Channel.com reports. The institutional investor owned 96,386 shares of the company’s stock after purchasing an additional 34,731 shares during the quarter. DnB Asset Management AS’s holdings in Equitable were worth $2,513,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in EQH. Private Advisor Group LLC acquired a new position in Equitable in the fourth quarter valued at about $225,000. PEAK6 Investments LLC boosted its position in Equitable by 227.1% in the fourth quarter. PEAK6 Investments LLC now owns 14,030 shares of the company’s stock valued at $460,000 after buying an additional 9,741 shares in the last quarter. Eagle Asset Management Inc. boosted its position in Equitable by 1.1% in the fourth quarter. Eagle Asset Management Inc. now owns 131,191 shares of the company’s stock valued at $4,297,000 after buying an additional 1,474 shares in the last quarter. Geode Capital Management LLC boosted its position in Equitable by 0.7% in the fourth quarter. Geode Capital Management LLC now owns 4,625,196 shares of the company’s stock valued at $151,425,000 after buying an additional 32,864 shares in the last quarter. Finally, Schroder Investment Management Group boosted its position in Equitable by 26.3% in the fourth quarter. Schroder Investment Management Group now owns 241,969 shares of the company’s stock valued at $7,934,000 after buying an additional 50,451 shares in the last quarter. 91.87% of the stock is currently owned by institutional investors and hedge funds.

Equitable Price Performance

EQH opened at $29.26 on Wednesday. The company has a market cap of $10.99 billion, a price-to-earnings ratio of 3.63 and a beta of 1.43. The firm has a 50 day simple moving average of $28.98 and a 200 day simple moving average of $29.09. Equitable Holdings, Inc. has a fifty-two week low of $24.61 and a fifty-two week high of $37.13.

Equitable (NYSE:EQHGet Rating) last posted its quarterly earnings results on Wednesday, August 3rd. The company reported $1.31 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.31. The business had revenue of $3.51 billion for the quarter, compared to the consensus estimate of $3.32 billion. As a group, analysts expect that Equitable Holdings, Inc. will post 5.35 EPS for the current year.

Equitable Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, August 15th. Shareholders of record on Monday, August 8th were paid a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 2.73%. The ex-dividend date of this dividend was Friday, August 5th. Equitable’s payout ratio is presently 9.94%.

Insider Buying and Selling at Equitable

In other Equitable news, CEO Mark Pearson sold 60,000 shares of the company’s stock in a transaction that occurred on Thursday, August 11th. The shares were sold at an average price of $30.02, for a total value of $1,801,200.00. Following the completion of the sale, the chief executive officer now owns 463,780 shares of the company’s stock, valued at $13,922,675.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Equitable news, Director Bertram L. Scott sold 7,300 shares of the company’s stock in a transaction that occurred on Thursday, September 8th. The shares were sold at an average price of $29.87, for a total value of $218,051.00. Following the completion of the sale, the director now owns 21,429 shares of the company’s stock, valued at $640,084.23. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Mark Pearson sold 60,000 shares of the company’s stock in a transaction that occurred on Thursday, August 11th. The shares were sold at an average price of $30.02, for a total transaction of $1,801,200.00. Following the completion of the sale, the chief executive officer now directly owns 463,780 shares of the company’s stock, valued at approximately $13,922,675.60. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 190,472 shares of company stock valued at $5,738,065. Corporate insiders own 0.98% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on EQH shares. Morgan Stanley upped their target price on shares of Equitable from $43.00 to $44.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 17th. Evercore ISI reduced their target price on shares of Equitable from $45.00 to $41.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 6th. Barclays upped their target price on shares of Equitable from $32.00 to $36.00 and gave the stock an “overweight” rating in a research report on Thursday, August 18th. JPMorgan Chase & Co. reduced their target price on shares of Equitable from $36.00 to $34.00 in a research report on Monday, July 11th. Finally, Truist Financial reduced their target price on shares of Equitable from $42.00 to $38.00 and set a “buy” rating on the stock in a research report on Monday, July 11th. Ten equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $41.67.

Equitable Profile

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Equitable Holdings, Inc, together with its consolidated subsidiaries, operates as a diversified financial services company worldwide. The company operates through four segments: Individual Retirement, Group Retirement, Investment Management and Research, and Protection Solutions. The Individual Retirement segment offers a suite of variable annuity products primarily to affluent and high net worth individuals.

Further Reading

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Institutional Ownership by Quarter for Equitable (NYSE:EQH)

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