Equitable Holdings, Inc. (NYSE:EQH) Position Increased by CIBC Asset Management Inc

CIBC Asset Management Inc raised its stake in Equitable Holdings, Inc. (NYSE:EQH) by 5.2% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 11,765 shares of the company’s stock after buying an additional 584 shares during the period. CIBC Asset Management Inc’s holdings in Equitable were worth $494,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently modified their holdings of EQH. Covestor Ltd lifted its holdings in shares of Equitable by 61.5% in the third quarter. Covestor Ltd now owns 646 shares of the company’s stock valued at $27,000 after purchasing an additional 246 shares in the last quarter. New Covenant Trust Company N.A. purchased a new position in Equitable during the 1st quarter valued at about $28,000. LRI Investments LLC acquired a new position in shares of Equitable in the 1st quarter valued at about $45,000. Carolina Wealth Advisors LLC purchased a new stake in shares of Equitable in the third quarter worth approximately $48,000. Finally, UMB Bank n.a. boosted its holdings in shares of Equitable by 86.3% during the third quarter. UMB Bank n.a. now owns 1,550 shares of the company’s stock worth $65,000 after purchasing an additional 718 shares during the period. Institutional investors and hedge funds own 92.70% of the company’s stock.

Equitable Stock Performance

Shares of NYSE:EQH opened at $46.80 on Friday. The stock has a market capitalization of $14.66 billion, a price-to-earnings ratio of -42.94 and a beta of 1.40. The business’s fifty day moving average price is $44.57 and its two-hundred day moving average price is $42.06. Equitable Holdings, Inc. has a fifty-two week low of $28.19 and a fifty-two week high of $50.51. The company has a debt-to-equity ratio of 1.63, a current ratio of 0.12 and a quick ratio of 0.12.

Equitable (NYSE:EQH) last announced its quarterly earnings results on Monday, November 4th. The company reported $1.53 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.53. The firm had revenue of $3.08 billion during the quarter, compared to the consensus estimate of $3.78 billion. Equitable had a negative net margin of 2.64% and a positive return on equity of 76.47%. The firm’s quarterly revenue was down 15.1% on a year-over-year basis. During the same period last year, the firm posted $1.15 EPS. As a group, analysts predict that Equitable Holdings, Inc. will post 6.03 EPS for the current fiscal year.

Equitable Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 3rd. Investors of record on Tuesday, November 26th will be given a dividend of $0.24 per share. The ex-dividend date is Tuesday, November 26th. This represents a $0.96 dividend on an annualized basis and a yield of 2.05%. Equitable’s dividend payout ratio (DPR) is presently -88.07%.

Insiders Place Their Bets

In related news, CEO Mark Pearson sold 30,000 shares of the firm’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $47.43, for a total value of $1,422,900.00. Following the transaction, the chief executive officer now owns 648,555 shares in the company, valued at $30,760,963.65. This trade represents a 4.42 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Jeffrey J. Hurd sold 6,666 shares of the business’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $47.53, for a total value of $316,834.98. Following the sale, the chief operating officer now directly owns 105,246 shares of the company’s stock, valued at $5,002,342.38. This represents a 5.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 130,166 shares of company stock valued at $5,709,605. 1.10% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. Morgan Stanley lowered their price target on shares of Equitable from $48.00 to $46.00 and set an “overweight” rating on the stock in a report on Monday, August 19th. Barclays increased their price objective on Equitable from $59.00 to $60.00 and gave the stock an “overweight” rating in a report on Tuesday, October 8th. Wells Fargo & Company raised their price target on shares of Equitable from $43.00 to $47.00 and gave the company an “overweight” rating in a report on Thursday, October 10th. Finally, Truist Financial raised their target price on Equitable from $44.00 to $52.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $48.70.

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.