Park Avenue Securities LLC Invests $231,000 in Equitable Holdings, Inc. (NYSE:EQH)

Park Avenue Securities LLC bought a new position in Equitable Holdings, Inc. (NYSE:EQH – Get Rating) during the 3rd quarter, HoldingsChannel reports. The fund bought 8,753 shares of the company’s stock, valued at approximately $231,000.

Other large investors have also made changes to their positions in the company. CWM LLC grew its holdings in Equitable by 29.6% during the 3rd quarter. CWM LLC now owns 1,501 shares of the company’s stock worth $40,000 after acquiring an additional 343 shares during the last quarter. Fifth Third Bancorp grew its holdings in Equitable by 1,608.8% during the 2nd quarter. Fifth Third Bancorp now owns 1,743 shares of the company’s stock worth $45,000 after acquiring an additional 1,641 shares during the last quarter. American International Group Inc. grew its holdings in Equitable by 9.3% during the 2nd quarter. American International Group Inc. now owns 4,007 shares of the company’s stock worth $104,000 after acquiring an additional 342 shares during the last quarter. Van ECK Associates Corp grew its holdings in Equitable by 21.1% during the 2nd quarter. Van ECK Associates Corp now owns 5,819 shares of the company’s stock worth $152,000 after acquiring an additional 1,015 shares during the last quarter. Finally, Captrust Financial Advisors grew its holdings in Equitable by 30.1% during the 1st quarter. Captrust Financial Advisors now owns 5,856 shares of the company’s stock worth $181,000 after acquiring an additional 1,355 shares during the last quarter. Institutional investors own 93.17% of the company’s stock.

Equitable Price Performance

Shares of NYSE:EQH opened at $30.51 on Tuesday. The company has a market capitalization of $11.29 billion, a price-to-earnings ratio of 4.27 and a beta of 1.43. The firm’s 50 day simple moving average is $30.05 and its 200 day simple moving average is $29.22. Equitable Holdings, Inc. has a fifty-two week low of $24.61 and a fifty-two week high of $37.13.

Equitable (NYSE:EQH – Get Rating) last announced its earnings results on Wednesday, November 2nd. The company reported $1.28 EPS for the quarter, topping the consensus estimate of $1.13 by $0.15. The company had revenue of $3.46 billion for the quarter, compared to analyst estimates of $3.21 billion. Equities research analysts expect that Equitable Holdings, Inc. will post 5.25 earnings per share for the current year.

Equitable Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 5th. Shareholders of record on Monday, November 28th were issued a dividend of $0.20 per share. The ex-dividend date of this dividend was Friday, November 25th. This represents a $0.80 annualized dividend and a yield of 2.62%. Equitable’s dividend payout ratio (DPR) is currently 11.19%.

Insiders Place Their Bets

In other Equitable news, CEO Mark Pearson sold 30,000 shares of the firm’s stock in a transaction that occurred on Thursday, October 27th. The shares were sold at an average price of $30.05, for a total transaction of $901,500.00. Following the sale, the chief executive officer now directly owns 435,307 shares in the company, valued at approximately $13,080,975.35. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.98% of the company’s stock.

Wall Street Analysts Forecast Growth

EQH has been the topic of a number of research analyst reports. Jefferies Financial Group lowered shares of Equitable from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $36.00 to $34.00 in a report on Friday, December 9th. 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 note on Wednesday, October 19th. Royal Bank of Canada lowered shares of Equitable from an “outperform” rating to a “sector perform” rating and reduced their target price for the company from $34.00 to $33.00 in a research note on Tuesday, December 6th. Wells Fargo & Company reduced their target price on shares of Equitable from $39.00 to $36.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 18th. Finally, Citigroup raised their target price on shares of Equitable from $37.00 to $38.00 in a research note on Wednesday, November 16th. Two research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $37.56.

Equitable Company 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.