First Trust Advisors LP Purchases 18,475 Shares of Equitable Holdings, Inc. (NYSE:EQH)

First Trust Advisors LP increased its holdings in shares of Equitable Holdings, Inc. (NYSE:EQHFree Report) by 0.3% during the 4th quarter, Holdings Channel reports. The institutional investor owned 6,232,821 shares of the company’s stock after acquiring an additional 18,475 shares during the quarter. First Trust Advisors LP’s holdings in Equitable were worth $207,553,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Lindbrook Capital LLC grew its stake in shares of Equitable by 143.1% in the fourth quarter. Lindbrook Capital LLC now owns 1,004 shares of the company’s stock worth $33,000 after purchasing an additional 591 shares during the last quarter. Blue Trust Inc. grew its position in shares of Equitable by 126.2% in the 4th quarter. Blue Trust Inc. now owns 1,262 shares of the company’s stock valued at $42,000 after buying an additional 704 shares during the last quarter. GAMMA Investing LLC bought a new stake in shares of Equitable in the 4th quarter valued at about $50,000. Harvest Fund Management Co. Ltd acquired a new stake in shares of Equitable in the fourth quarter valued at about $64,000. Finally, Cary Street Partners Investment Advisory LLC bought a new position in shares of Equitable during the third quarter worth about $67,000. 92.70% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Equitable

In other news, insider Seth P. Bernstein sold 152,473 shares of Equitable stock in a transaction dated Thursday, May 2nd. The stock was sold at an average price of $38.06, for a total transaction of $5,803,122.38. Following the completion of the sale, the insider now owns 88,660 shares in the company, valued at approximately $3,374,399.60. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Equitable news, insider Seth P. Bernstein sold 152,473 shares of the business’s stock in a transaction that occurred on Thursday, May 2nd. The shares were sold at an average price of $38.06, for a total value of $5,803,122.38. Following the completion of the transaction, the insider now owns 88,660 shares of the company’s stock, valued at approximately $3,374,399.60. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Bertram L. Scott sold 7,000 shares of Equitable stock in a transaction on Monday, March 18th. The stock was sold at an average price of $35.29, for a total transaction of $247,030.00. Following the sale, the director now directly owns 20,902 shares of the company’s stock, valued at $737,631.58. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 239,411 shares of company stock valued at $8,980,534. 1.10% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages have commented on EQH. Truist Financial upped their price target on shares of Equitable from $40.00 to $44.00 and gave the company a “buy” rating in a research report on Thursday, May 2nd. Jefferies Financial Group lifted their price target on shares of Equitable from $42.00 to $45.00 and gave the company a “buy” rating in a research report on Friday, March 22nd. Morgan Stanley upped their price objective on shares of Equitable from $39.00 to $41.00 and gave the stock an “overweight” rating in a report on Monday, April 15th. Evercore ISI lifted their price target on Equitable from $42.00 to $46.00 and gave the company an “outperform” rating in a research note on Thursday, April 11th. Finally, Wells Fargo & Company cut their price objective on shares of Equitable from $46.00 to $44.00 and set an “overweight” rating on the stock in a report on Friday, May 10th. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $40.10.

View Our Latest Stock Report on EQH

Equitable Price Performance

NYSE:EQH opened at $40.19 on Thursday. Equitable Holdings, Inc. has a 1 year low of $24.65 and a 1 year high of $41.64. The company has a market cap of $13.07 billion, a P/E ratio of 12.44 and a beta of 1.41. The stock’s fifty day moving average price is $38.67 and its two-hundred day moving average price is $35.14.

Equitable (NYSE:EQHGet Free Report) last announced its quarterly earnings results on Tuesday, April 30th. The company reported $1.43 earnings per share for the quarter, beating the consensus estimate of $1.31 by $0.12. The company had revenue of $2.23 billion for the quarter, compared to the consensus estimate of $3.59 billion. During the same quarter in the prior year, the company earned $0.96 earnings per share. The company’s quarterly revenue was down 5.4% on a year-over-year basis. On average, analysts expect that Equitable Holdings, Inc. will post 6.12 earnings per share for the current fiscal year.

Equitable Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 10th. Shareholders of record on Monday, June 3rd will be issued a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 2.39%. This is an increase from Equitable’s previous quarterly dividend of $0.22. The ex-dividend date is Monday, June 3rd. Equitable’s dividend payout ratio (DPR) is presently 29.72%.

Equitable Profile

(Free Report)

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.

See Also

Want to see what other hedge funds are holding EQH? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Equitable Holdings, Inc. (NYSE:EQHFree Report).

Institutional Ownership by Quarter for Equitable (NYSE:EQH)

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