Sit Investment Associates Inc. Sells 500 Shares of Equitable Holdings, Inc. (NYSE:EQH)

Sit Investment Associates Inc. cut its stake in shares of Equitable Holdings, Inc. (NYSE:EQH) by 6.8% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 6,875 shares of the company’s stock after selling 500 shares during the quarter. Sit Investment Associates Inc.’s holdings in Equitable were worth $187,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. AdvisorNet Financial Inc boosted its position in Equitable by 333.5% in the second quarter. AdvisorNet Financial Inc now owns 1,916 shares of the company’s stock valued at $52,000 after buying an additional 1,474 shares in the last quarter. V Square Quantitative Management LLC bought a new position in Equitable in the 2nd quarter valued at $62,000. National Bank of Canada FI boosted its stake in Equitable by 52.0% in the second quarter. National Bank of Canada FI now owns 3,486 shares of the company’s stock worth $95,000 after purchasing an additional 1,192 shares in the last quarter. American International Group Inc. grew its holdings in shares of Equitable by 9.3% during the second quarter. American International Group Inc. now owns 4,007 shares of the company’s stock worth $104,000 after purchasing an additional 342 shares during the last quarter. Finally, Advisory Services Network LLC increased its stake in shares of Equitable by 236.6% in the first quarter. Advisory Services Network LLC now owns 4,517 shares of the company’s stock valued at $115,000 after buying an additional 3,175 shares in the last quarter. Institutional investors and hedge funds own 92.70% of the company’s stock.

Wall Street Analysts Forecast Growth

EQH has been the topic of several research reports. Jefferies Financial Group upped their price objective on Equitable from $29.00 to $32.00 and gave the stock a “hold” rating in a report on Thursday, September 14th. Barclays decreased their price target on Equitable from $32.00 to $31.00 and set an “overweight” rating on the stock in a report on Thursday, November 2nd. Wells Fargo & Company reduced their price objective on shares of Equitable from $41.00 to $40.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 17th. JPMorgan Chase & Co. reduced their price target on shares of Equitable from $36.00 to $35.00 and set an “overweight” rating on the stock in a research report on Friday, October 6th. Finally, Deutsche Bank Aktiengesellschaft began coverage on shares of Equitable in a research report on Wednesday, October 4th. They issued a “hold” rating and a $31.00 price objective for the company. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $33.57.

Equitable Trading Down 1.0 %

Equitable stock opened at $27.85 on Friday. The company has a market cap of $9.43 billion, a P/E ratio of 8.39 and a beta of 1.41. The company has a fifty day simple moving average of $27.54 and a 200 day simple moving average of $27.05. Equitable Holdings, Inc. has a 1-year low of $21.89 and a 1-year high of $33.24.

Equitable (NYSE:EQH) last issued its quarterly earnings results on Tuesday, October 31st. The company reported $1.15 EPS for the quarter, missing the consensus estimate of $1.32 by ($0.17). The company had revenue of $3.63 billion during the quarter, compared to analysts’ expectations of $3.50 billion. During the same period in the previous year, the business earned $1.28 earnings per share. The business’s revenue was up 21.2% on a year-over-year basis. On average, equities research analysts forecast that Equitable Holdings, Inc. will post 4.64 EPS for the current year.

Equitable Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 4th. Shareholders of record on Monday, November 27th will be given a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 3.16%. The ex-dividend date of this dividend is Friday, November 24th. Equitable’s dividend payout ratio (DPR) is currently 26.51%.

Equitable Company Profile

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.