MBB Public Markets I LLC Purchases Shares of 23,600 Equitable Holdings, Inc. (NYSE:EQH)

MBB Public Markets I LLC acquired a new position in shares of Equitable Holdings, Inc. (NYSE:EQH) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 23,600 shares of the company’s stock, valued at approximately $964,000.

A number of other hedge funds have also modified their holdings of EQH. Advisory Services Network LLC acquired a new position in Equitable during the 4th quarter worth approximately $349,000. TD Asset Management Inc grew its position in Equitable by 31.1% in the fourth quarter. TD Asset Management Inc now owns 36,446 shares of the company’s stock valued at $1,214,000 after purchasing an additional 8,642 shares in the last quarter. KBC Group NV increased its stake in Equitable by 449.4% in the 4th quarter. KBC Group NV now owns 65,170 shares of the company’s stock valued at $2,170,000 after buying an additional 53,309 shares during the last quarter. The Manufacturers Life Insurance Company lifted its position in Equitable by 47.4% during the 4th quarter. The Manufacturers Life Insurance Company now owns 873,992 shares of the company’s stock worth $29,104,000 after buying an additional 280,975 shares in the last quarter. Finally, First Trust Advisors LP boosted its stake in shares of Equitable by 0.3% during the 4th quarter. First Trust Advisors LP now owns 6,232,821 shares of the company’s stock worth $207,553,000 after buying an additional 18,475 shares during the last quarter. 92.70% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

EQH has been the topic of a number of recent research reports. Jefferies Financial Group lifted their target price on Equitable from $46.00 to $51.00 and gave the company a “buy” rating in a research report on Friday, June 28th. Truist Financial increased their price objective on Equitable from $44.00 to $52.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Citigroup boosted their target price on shares of Equitable from $41.00 to $53.00 and gave the stock a “buy” rating in a report on Tuesday, July 23rd. Wells Fargo & Company dropped their price target on shares of Equitable from $45.00 to $43.00 and set an “overweight” rating on the stock in a research report on Monday, August 12th. Finally, Morgan Stanley lowered their price objective on shares of Equitable from $48.00 to $46.00 and set an “overweight” rating on the stock in a research note on Monday, August 19th. Four analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, Equitable currently has a consensus rating of “Moderate Buy” and a consensus price target of $46.64.

Insiders Place Their Bets

In other news, COO Jeffrey J. Hurd sold 9,969 shares of the business’s stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $43.09, for a total value of $429,564.21. Following the completion of the sale, the chief operating officer now owns 111,552 shares of the company’s stock, valued at $4,806,775.68. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Equitable news, COO Jeffrey J. Hurd sold 9,969 shares of the business’s stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $43.09, for a total value of $429,564.21. Following the completion of the sale, the chief operating officer now owns 111,552 shares of the company’s stock, valued at approximately $4,806,775.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO William James Iv Eckert sold 3,500 shares of the stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $42.42, for a total transaction of $148,470.00. Following the transaction, the chief accounting officer now owns 19,321 shares in the company, valued at approximately $819,596.82. The disclosure for this sale can be found here. Insiders have sold 73,469 shares of company stock worth $3,067,434 in the last 90 days. Company insiders own 1.10% of the company’s stock.

Equitable Stock Performance

Shares of EQH stock opened at $42.03 on Tuesday. Equitable Holdings, Inc. has a 52 week low of $24.65 and a 52 week high of $44.50. The company has a market capitalization of $13.67 billion, a price-to-earnings ratio of 13.01 and a beta of 1.42. The company has a 50-day simple moving average of $40.86 and a 200 day simple moving average of $39.89. The company has a debt-to-equity ratio of 3.06, a quick ratio of 0.12 and a current ratio of 0.12.

Equitable (NYSE:EQH) last issued its quarterly earnings data on Tuesday, July 30th. The company reported $1.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 had a return on equity of 87.49% and a net margin of 7.87%. The business’s revenue was up 47.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.17 earnings per share. On average, sell-side analysts predict that Equitable Holdings, Inc. will post 6.01 earnings per share for the current year.

Equitable Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 13th. Shareholders of record on Tuesday, August 6th were issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 2.28%. The ex-dividend date of this dividend was Tuesday, August 6th. Equitable’s dividend payout ratio is 29.72%.

About Equitable

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.