iA Global Asset Management Inc. Reduces Stock Holdings in Equitable Holdings, Inc. (NYSE:EQH)

iA Global Asset Management Inc. decreased its holdings in Equitable Holdings, Inc. (NYSE:EQH) by 15.0% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,213 shares of the company’s stock after selling 919 shares during the quarter. iA Global Asset Management Inc.’s holdings in Equitable were worth $213,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. &PARTNERS boosted its position in Equitable by 0.7% in the second quarter. &PARTNERS now owns 34,328 shares of the company’s stock worth $1,403,000 after purchasing an additional 254 shares during the last quarter. Nomura Asset Management Co. Ltd. boosted its position in Equitable by 0.4% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 88,548 shares of the company’s stock worth $2,949,000 after purchasing an additional 329 shares during the last quarter. TCW Group Inc. boosted its position in Equitable by 0.5% in the fourth quarter. TCW Group Inc. now owns 71,986 shares of the company’s stock worth $2,397,000 after purchasing an additional 371 shares during the last quarter. GAMMA Investing LLC boosted its position in Equitable by 26.4% in the first quarter. GAMMA Investing LLC now owns 1,939 shares of the company’s stock worth $74,000 after purchasing an additional 405 shares during the last quarter. Finally, US Bancorp DE boosted its position in Equitable by 4.4% in the first quarter. US Bancorp DE now owns 10,068 shares of the company’s stock worth $383,000 after purchasing an additional 423 shares during the last quarter. Hedge funds and other institutional investors own 92.70% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on EQH shares. Citigroup raised their target price on Equitable from $41.00 to $53.00 and gave the stock a “buy” rating in a research report on Tuesday, July 23rd. Morgan Stanley dropped their target price on Equitable from $48.00 to $46.00 and set an “overweight” rating on the stock in a research report on Monday, August 19th. Truist Financial lifted their price objective on Equitable from $44.00 to $52.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Wells Fargo & Company reduced their target price on shares of Equitable from $45.00 to $43.00 and set an “overweight” rating for the company in a report on Monday, August 12th. Finally, Keefe, Bruyette & Woods lifted their price target on shares of Equitable from $43.00 to $44.00 and gave the company a “market perform” rating in a report on Monday, July 8th. Four investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $44.09.

Equitable Trading Up 1.1 %

NYSE EQH opened at $42.52 on Friday. Equitable Holdings, Inc. has a 12 month low of $24.65 and a 12 month high of $44.50. The stock has a market cap of $13.83 billion, a PE ratio of 13.16 and a beta of 1.43. The stock’s 50 day moving average is $41.02 and its 200 day moving average is $38.83.

Equitable (NYSE:EQH) last released its earnings results on Tuesday, July 30th. The company reported $1.43 EPS for the quarter, topping the consensus estimate of $1.40 by $0.03. The company had revenue of $3.51 billion during the quarter, compared to analysts’ expectations of $3.71 billion. Equitable’s quarterly revenue was up 47.7% compared to the same quarter last year. During the same period last year, the firm posted $1.17 EPS. On average, analysts forecast that Equitable Holdings, Inc. will post 6.05 EPS for the current fiscal year.

Equitable Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 13th. Shareholders of record on Tuesday, August 6th were issued a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 2.26%. The ex-dividend date of this dividend was Tuesday, August 6th. Equitable’s dividend payout ratio (DPR) is presently 29.72%.

Insider Activity

In related news, CEO Mark Pearson sold 30,000 shares of the stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $42.20, for a total transaction of $1,266,000.00. Following the completion of the transaction, the chief executive officer now directly owns 678,555 shares of the company’s stock, valued at $28,635,021. The sale was disclosed in a filing with the SEC, which is available through this link. In other Equitable news, CEO Mark Pearson sold 30,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $42.20, for a total transaction of $1,266,000.00. Following the completion of the transaction, the chief executive officer now owns 678,555 shares in the company, valued at approximately $28,635,021. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Jeffrey J. Hurd sold 9,969 shares of the firm’s stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $43.09, for a total value of $429,564.21. Following the transaction, the chief operating officer now owns 111,552 shares of the company’s stock, valued at approximately $4,806,775.68. The disclosure for this sale can be found here. Insiders sold a total of 49,938 shares of company stock worth $2,090,536 over the last 90 days. Corporate insiders own 1.10% of the company’s stock.

Equitable 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.