Tower Research Capital LLC TRC Raises Stake in Equitable Holdings, Inc. (NYSE:EQH)

Tower Research Capital LLC TRC lifted its holdings in Equitable Holdings, Inc. (NYSE:EQHFree Report) by 47.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 46,796 shares of the company’s stock after acquiring an additional 15,137 shares during the period. Tower Research Capital LLC TRC’s holdings in Equitable were worth $1,558,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the business. Lindbrook Capital LLC increased its holdings in Equitable by 143.1% in the 4th quarter. Lindbrook Capital LLC now owns 1,004 shares of the company’s stock valued at $33,000 after purchasing an additional 591 shares in the last quarter. 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 valued at $42,000 after buying an additional 704 shares in the last quarter. GAMMA Investing LLC purchased a new stake in shares of Equitable during the 4th quarter valued at about $50,000. Harvest Fund Management Co. Ltd acquired a new position in Equitable during the 4th quarter worth approximately $64,000. Finally, Cary Street Partners Investment Advisory LLC purchased a new position in Equitable in the 3rd quarter worth approximately $67,000. Hedge funds and other institutional investors own 92.70% of the company’s stock.

Insider Buying and Selling

In other Equitable news, Director Bertram L. Scott sold 7,000 shares of the stock in a transaction 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 sale, the director now directly owns 20,902 shares of the company’s stock, valued at $737,631.58. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, COO Jeffrey J. Hurd sold 9,969 shares of the business’s stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $35.32, for a total transaction of $352,105.08. Following the completion of the transaction, the chief operating officer now directly owns 151,031 shares in the company, valued at $5,334,414.92. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Bertram L. Scott sold 7,000 shares of the firm’s stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $35.29, for a total value of $247,030.00. Following the completion of the sale, the director now owns 20,902 shares in the company, valued at $737,631.58. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 239,411 shares of company stock valued at $8,980,534. Insiders own 1.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on EQH. Morgan Stanley boosted their target price on shares of Equitable from $39.00 to $41.00 and gave the stock an “overweight” rating in a research report on Monday, April 15th. Keefe, Bruyette & Woods boosted their price objective on shares of Equitable from $41.00 to $43.00 and gave the stock a “market perform” rating in a report on Tuesday, May 7th. Jefferies Financial Group raised their target price on Equitable from $42.00 to $45.00 and gave the company a “buy” rating in a research note on Friday, March 22nd. Truist Financial boosted their price target on Equitable from $40.00 to $44.00 and gave the stock a “buy” rating in a research note on Thursday, May 2nd. Finally, Evercore ISI raised their price objective on Equitable from $42.00 to $46.00 and gave the company an “outperform” rating in a research note on Thursday, April 11th. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, Equitable presently has an average rating of “Moderate Buy” and an average price target of $40.10.

Check Out Our Latest Stock Analysis on Equitable

Equitable Price Performance

Equitable stock opened at $40.66 on Tuesday. The company has a market cap of $13.22 billion, a PE ratio of 12.59 and a beta of 1.41. Equitable Holdings, Inc. has a 12 month low of $24.65 and a 12 month high of $41.64. The company has a fifty day moving average price of $38.80 and a two-hundred day moving average price of $35.38.

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

Equitable Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 10th. Stockholders of record on Monday, June 3rd were given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.36%. This is a boost from Equitable’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend was Monday, June 3rd. Equitable’s dividend payout ratio 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

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Institutional Ownership by Quarter for Equitable (NYSE:EQH)

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