Bank of New York Mellon Corp Buys 7,559 Shares of Equitable Holdings, Inc. (NYSE:EQH)

Bank of New York Mellon Corp increased its stake in shares of Equitable Holdings, Inc. (NYSE:EQH) by 0.2% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,724,092 shares of the company’s stock after acquiring an additional 7,559 shares during the quarter. Bank of New York Mellon Corp owned approximately 1.15% of Equitable worth $152,166,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Capital Insight Partners LLC boosted its stake in Equitable by 2.6% during the second quarter. Capital Insight Partners LLC now owns 17,612 shares of the company’s stock worth $720,000 after acquiring an additional 440 shares in the last quarter. LRI Investments LLC boosted its stake in Equitable by 892.9% during the second quarter. LRI Investments LLC now owns 1,112 shares of the company’s stock worth $45,000 after acquiring an additional 1,000 shares in the last quarter. &PARTNERS raised its holdings in Equitable by 0.7% during the second quarter. &PARTNERS now owns 34,328 shares of the company’s stock worth $1,403,000 after buying an additional 254 shares during the last quarter. Hennessy Advisors Inc. acquired a new position in Equitable during the second quarter worth $613,000. Finally, Fifth Third Wealth Advisors LLC acquired a new position in Equitable during the second quarter worth $391,000. 92.70% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. Wells Fargo & Company lowered their price objective on shares of Equitable from $45.00 to $43.00 and set an “overweight” rating on the stock in a report on Monday, August 12th. Jefferies Financial Group upped their price objective on shares of Equitable from $46.00 to $51.00 and gave the stock a “buy” rating in a report on Friday, June 28th. JPMorgan Chase & Co. upped their price objective on shares of Equitable from $36.00 to $45.00 and gave the stock a “neutral” rating in a report on Tuesday, July 2nd. Citigroup upped 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. Finally, Keefe, Bruyette & Woods increased their target price 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 research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $44.09.

Insider Buying and Selling at Equitable

In other Equitable news, COO Jeffrey J. Hurd sold 9,969 shares of Equitable stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $39.62, for a total transaction of $394,971.78. Following the completion of the sale, the chief operating officer now directly owns 121,521 shares in the company, valued at $4,814,662.02. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 1.10% of the stock is currently owned by company insiders.

Equitable Stock Up 0.6 %

Shares of NYSE:EQH opened at $41.89 on Tuesday. The company has a 50-day moving average price of $40.89 and a two-hundred day moving average price of $38.63. Equitable Holdings, Inc. has a twelve month low of $24.65 and a twelve month high of $44.50. The firm has a market capitalization of $13.62 billion, a PE ratio of 12.97 and a beta of 1.43.

Equitable (NYSE:EQH) last announced its earnings results 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 company had revenue of $3.51 billion for the quarter, compared to the consensus estimate of $3.71 billion. During the same quarter in the previous year, the firm earned $1.17 earnings per share. The company’s revenue for the quarter was up 47.7% compared to the same quarter last year. Analysts anticipate that Equitable Holdings, Inc. will post 6.05 earnings per share for the current fiscal year.

Equitable Announces Dividend

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

Equitable Company 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.