Allspring Global Investments Holdings LLC Sells 20,783 Shares of Equitable Holdings, Inc. (NYSE:EQH)

Allspring Global Investments Holdings LLC lessened its position in Equitable Holdings, Inc. (NYSE:EQH) by 29.0% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 50,987 shares of the company’s stock after selling 20,783 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Equitable were worth $1,698,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Blue Trust Inc. grew its stake in shares of Equitable by 126.2% in the fourth quarter. Blue Trust Inc. now owns 1,262 shares of the company’s stock worth $42,000 after purchasing an additional 704 shares during the last quarter. UMB Bank n.a. grew its position in shares of Equitable by 128.3% in the 3rd quarter. UMB Bank n.a. now owns 1,840 shares of the company’s stock worth $52,000 after buying an additional 1,034 shares during the last quarter. Cary Street Partners Investment Advisory LLC purchased a new position in shares of Equitable during the third quarter valued at approximately $67,000. CWM LLC raised its holdings in shares of Equitable by 23.6% during the third quarter. CWM LLC now owns 2,647 shares of the company’s stock valued at $75,000 after acquiring an additional 506 shares in the last quarter. Finally, Fifth Third Bancorp lifted its stake in Equitable by 35.7% in the fourth quarter. Fifth Third Bancorp now owns 4,219 shares of the company’s stock worth $140,000 after acquiring an additional 1,109 shares during the period. Hedge funds and other institutional investors own 92.70% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. Keefe, Bruyette & Woods upped their price objective on shares of Equitable from $39.00 to $41.00 and gave the stock a “market perform” rating in a report on Wednesday, April 10th. Evercore ISI raised their price objective on shares of Equitable from $42.00 to $46.00 and gave the stock an “outperform” rating in a report on Thursday, April 11th. UBS Group upped their target price on Equitable from $34.00 to $40.00 and gave the stock a “buy” rating in a report on Wednesday, January 10th. Wells Fargo & Company raised their target price on Equitable from $43.00 to $46.00 and gave the company an “overweight” rating in a research note on Thursday, April 11th. Finally, JPMorgan Chase & Co. cut Equitable from an “overweight” rating to a “neutral” rating and upped their price target for the stock from $35.00 to $36.00 in a research note on Wednesday, January 3rd. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $39.67.

Equitable Stock Up 1.3 %

EQH stock opened at $37.03 on Tuesday. The business has a 50 day moving average of $35.63 and a 200 day moving average of $32.41. Equitable Holdings, Inc. has a twelve month low of $21.89 and a twelve month high of $38.44. The firm has a market cap of $12.13 billion, a PE ratio of 10.96 and a beta of 1.42.

Equitable (NYSE:EQH) last posted its quarterly earnings results on Tuesday, February 6th. The company reported $1.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.17 by $0.16. The company had revenue of $3.55 billion during the quarter, compared to analysts’ expectations of $3.50 billion. On average, research analysts expect that Equitable Holdings, Inc. will post 6.01 earnings per share for the current fiscal year.

Equitable Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 4th. Stockholders of record on Monday, February 26th were issued a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.38%. The ex-dividend date of this dividend was Friday, February 23rd. Equitable’s payout ratio is 26.04%.

Insider Activity at Equitable

In related news, Director Bertram L. Scott sold 7,000 shares of the company’s stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $35.29, for a total value of $247,030.00. Following the transaction, the director now directly owns 20,902 shares of the company’s stock, valued at approximately $737,631.58. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Equitable news, Director Bertram L. Scott sold 7,000 shares of the business’s stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $35.29, for a total value of $247,030.00. Following the completion of the transaction, the director now owns 20,902 shares of the company’s stock, valued at approximately $737,631.58. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Charles G.T. Stonehill sold 5,000 shares of the firm’s stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $34.02, for a total transaction of $170,100.00. Following the sale, the director now directly owns 29,758 shares in the company, valued at approximately $1,012,367.16. The disclosure for this sale can be found here. Insiders sold 241,907 shares of company stock valued at $8,338,649 over the last 90 days. Corporate insiders own 1.02% of the company’s stock.

Equitable Company Profile

Equitable Holdings, Inc, together with its consolidated subsidiaries, operates as a diversified financial services company worldwide. The company operates through six segments: Individual Retirement, Group Retirement, Investment Management and Research, Protection Solutions, Wealth Management, and Legacy.