Belpointe Asset Management LLC Purchases New Holdings in Equitable Holdings, Inc. (NYSE:EQH)

Belpointe Asset Management LLC purchased a new stake in Equitable Holdings, Inc. (NYSE:EQH – Get Rating) in the fourth quarter, HoldingsChannel reports. The firm purchased 2,345 shares of the company’s stock, valued at approximately $67,000.

A number of other hedge funds and other institutional investors have also modified their holdings of EQH. Goldman Sachs Group Inc. increased its holdings in shares of Equitable by 94.8% in the first quarter. Goldman Sachs Group Inc. now owns 3,723,505 shares of the company’s stock valued at $115,094,000 after purchasing an additional 1,811,795 shares in the last quarter. Royal Bank of Canada lifted its position in Equitable by 192.0% during the 3rd quarter. Royal Bank of Canada now owns 1,734,267 shares of the company’s stock valued at $45,699,000 after purchasing an additional 1,140,288 shares during the period. Vanguard Group Inc. lifted its position in Equitable by 2.2% during the 1st quarter. Vanguard Group Inc. now owns 40,143,567 shares of the company’s stock valued at $1,240,838,000 after purchasing an additional 854,689 shares during the period. Neuberger Berman Group LLC lifted its position in Equitable by 24.3% during the 3rd quarter. Neuberger Berman Group LLC now owns 3,917,357 shares of the company’s stock valued at $103,222,000 after purchasing an additional 766,449 shares during the period. Finally, Pzena Investment Management LLC lifted its position in Equitable by 3.3% during the 3rd quarter. Pzena Investment Management LLC now owns 22,868,511 shares of the company’s stock valued at $602,585,000 after purchasing an additional 720,979 shares during the period. Institutional investors and hedge funds own 93.17% of the company’s stock.

Analyst Ratings Changes

EQH has been the topic of a number of research reports. 92 Resources restated a “maintains” rating on shares of Equitable in a research report on Friday, May 5th. TheStreet cut Equitable from a “b” rating to a “c+” rating in a research note on Wednesday, February 8th. Raymond James initiated coverage on Equitable in a research note on Wednesday, February 8th. They set a “market perform” rating for the company. Barclays lifted their price objective on Equitable from $30.00 to $31.00 in a research note on Friday, May 12th. Finally, Wells Fargo & Company cut their target price on shares of Equitable from $37.00 to $33.00 and set an “overweight” rating on the stock in a report on Wednesday, April 5th. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $35.33.

Equitable Price Performance

EQH opened at $24.50 on Monday. The company has a market capitalization of $8.72 billion, a price-to-earnings ratio of 7.21 and a beta of 1.40. The business’s 50-day moving average price is $24.67 and its two-hundred day moving average price is $28.52. Equitable Holdings, Inc. has a 1 year low of $21.89 and a 1 year high of $33.24.

Equitable (NYSE:EQH – Get Rating) last released its quarterly earnings results on Wednesday, May 3rd. The company reported $0.96 earnings per share for the quarter, missing analysts’ consensus estimates of $1.24 by ($0.28). The business had revenue of $3.27 billion during the quarter, compared to analysts’ expectations of $3.28 billion. Sell-side analysts anticipate that Equitable Holdings, Inc. will post 5.17 earnings per share for the current fiscal year.

Insider Activity at Equitable

In other news, CAO William James Iv Eckert sold 8,100 shares of the stock in a transaction dated Wednesday, March 22nd. The shares were sold at an average price of $25.38, for a total transaction of $205,578.00. Following the completion of the transaction, the chief accounting officer now directly owns 27,062 shares in the company, valued at approximately $686,833.56. The transaction was disclosed in a document filed with the SEC, which is available at this link. In related news, Director Kristi Ann Matus sold 19,297 shares of the business’s stock in a transaction on Friday, March 24th. The shares were sold at an average price of $23.34, for a total transaction of $450,391.98. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CAO William James Iv Eckert sold 8,100 shares of the stock in a transaction on Wednesday, March 22nd. The shares were sold at an average price of $25.38, for a total transaction of $205,578.00. Following the completion of the sale, the chief accounting officer now owns 27,062 shares of the company’s stock, valued at approximately $686,833.56. The disclosure for this sale can be found here. 1.02% of the stock is owned by insiders.

Equitable Profile

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Equitable Holdings, Inc engages in the provision of financial services. It operates through the following segment: Individual Retirement, Group Retirement, Investment Management and Research, and Protection Solutions. The Individual Retirement segment includes annuity products, which primarily meet the needs of individuals saving for retirement or seeking retirement income.