AQR Capital Management LLC Increases Stock Position in Equitable Holdings, Inc. (NYSE:EQH)

AQR Capital Management LLC grew its stake in shares of Equitable Holdings, Inc. (NYSE:EQH) by 52.2% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 727,892 shares of the company’s stock after acquiring an additional 249,639 shares during the quarter. AQR Capital Management LLC owned about 0.22% of Equitable worth $29,742,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. New Covenant Trust Company N.A. purchased a new stake in shares of Equitable during the 1st quarter valued at about $28,000. LRI Investments LLC purchased a new position in shares of Equitable in the first quarter worth approximately $45,000. Rise Advisors LLC boosted its holdings in shares of Equitable by 1,421.4% in the first quarter. Rise Advisors LLC now owns 1,704 shares of the company’s stock worth $65,000 after buying an additional 1,592 shares during the last quarter. GAMMA Investing LLC boosted its holdings in shares of 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 buying an additional 405 shares during the last quarter. Finally, Quarry LP purchased a new position in shares of Equitable in the fourth quarter worth approximately $76,000. Hedge funds and other institutional investors own 92.70% of the company’s stock.

Equitable Stock Performance

Equitable stock opened at $41.98 on Monday. The stock has a market cap of $13.65 billion, a P/E ratio of 13.00 and a beta of 1.42. The company has a debt-to-equity ratio of 3.06, a current ratio of 0.12 and a quick ratio of 0.12. Equitable Holdings, Inc. has a 1 year low of $24.65 and a 1 year high of $44.50. The firm’s 50 day moving average price is $40.86 and its 200-day moving average price is $39.84.

Equitable (NYSE:EQH) last released its quarterly earnings data on Tuesday, July 30th. The company reported $1.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.40 by $0.03. The firm had revenue of $3.51 billion for the quarter, compared to analysts’ expectations of $3.71 billion. Equitable had a net margin of 7.87% and a return on equity of 87.49%. The company’s revenue for the quarter was up 47.7% compared to the same quarter last year. During the same quarter last year, the business posted $1.17 earnings per share. On average, equities analysts predict that Equitable Holdings, Inc. will post 6.01 earnings per share for the current fiscal year.

Equitable Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 13th. Stockholders of record on Tuesday, August 6th were given a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 2.29%. The ex-dividend date of this dividend was Tuesday, August 6th. Equitable’s payout ratio is currently 29.72%.

Analyst Ratings Changes

A number of research firms recently issued reports on EQH. Barclays began coverage on shares of Equitable in a report on Wednesday, September 4th. They issued an “overweight” rating and a $59.00 price objective on the stock. Truist Financial raised their price objective on shares of Equitable from $44.00 to $52.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Citigroup raised their price objective on shares of Equitable from $41.00 to $53.00 and gave the stock a “buy” rating in a report on Tuesday, July 23rd. JPMorgan Chase & Co. raised their target price on shares of Equitable from $36.00 to $45.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 2nd. Finally, Wells Fargo & Company decreased their target price on shares of Equitable from $45.00 to $43.00 and set an “overweight” rating on the stock in a research note on Monday, August 12th. Four analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $46.64.

Insider Activity

In related news, CEO Mark Pearson sold 30,000 shares of the business’s stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $42.20, for a total value of $1,266,000.00. Following the sale, the chief executive officer now owns 678,555 shares in the company, valued at $28,635,021. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, COO Jeffrey J. Hurd sold 9,969 shares of the business’s stock in a transaction 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 sale, the chief operating officer now owns 111,552 shares in the company, valued at $4,806,775.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Mark Pearson sold 30,000 shares of the business’s stock in a transaction 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 sale, the chief executive officer now owns 678,555 shares in the company, valued at approximately $28,635,021. The disclosure for this sale can be found here. Insiders have sold a total of 73,469 shares of company stock worth $3,067,434 over the last quarter. 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.