Equitable Holdings, Inc. (NYSE:EQH) Shares Acquired by PGGM Investments

PGGM Investments lifted its holdings in shares of Equitable Holdings, Inc. (NYSE:EQH) by 234.8% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 139,713 shares of the company’s stock after acquiring an additional 97,983 shares during the period. PGGM Investments’ holdings in Equitable were worth $5,709,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in EQH. New Covenant Trust Company N.A. acquired a new stake in shares of Equitable during the 1st quarter worth about $28,000. Lindbrook Capital LLC grew its stake in shares of Equitable by 143.1% in the 4th quarter. Lindbrook Capital LLC now owns 1,004 shares of the company’s stock valued at $33,000 after purchasing an additional 591 shares during the last quarter. LRI Investments LLC purchased a new position in shares of Equitable in the 1st quarter valued at approximately $45,000. GAMMA Investing LLC purchased a new position in shares of Equitable in the 4th quarter valued at approximately $50,000. Finally, Harvest Fund Management Co. Ltd purchased a new position in shares of Equitable in the 4th quarter valued at approximately $64,000. Institutional investors and hedge funds own 92.70% of the company’s stock.

Insider Activity at Equitable

In related news, COO Jeffrey J. Hurd sold 9,969 shares of the company’s stock in a transaction on Monday, July 15th. The stock was sold at an average price of $43.09, for a total value of $429,564.21. Following the completion of the transaction, the chief operating officer now directly owns 111,552 shares in the company, valued at $4,806,775.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.10% of the company’s stock.

Equitable Trading Up 2.2 %

Shares of NYSE EQH traded up $0.86 during trading on Thursday, reaching $40.10. The company had a trading volume of 335,504 shares, compared to its average volume of 2,618,074. Equitable Holdings, Inc. has a twelve month low of $24.65 and a twelve month high of $44.50. The stock has a market capitalization of $13.04 billion, a PE ratio of 12.15 and a beta of 1.43. The stock has a 50-day moving average price of $40.82 and a two-hundred day moving average price of $38.15.

Equitable (NYSE:EQH) last released its quarterly earnings results on Tuesday, July 30th. The company reported $1.43 earnings per share 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 analyst estimates of $3.71 billion. During the same period last year, the firm earned $1.17 earnings per share. The business’s revenue was up 47.7% compared to the same quarter last year. On average, sell-side analysts predict that Equitable Holdings, Inc. will post 6.05 EPS for the current year.

Equitable Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, August 13th. Stockholders of record on Tuesday, August 6th were issued a $0.24 dividend. The ex-dividend date of this dividend was Tuesday, August 6th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.39%. Equitable’s dividend payout ratio (DPR) is 29.72%.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on EQH shares. Morgan Stanley lifted their price target on Equitable from $44.00 to $46.00 and gave the company an “overweight” rating in a research note on Wednesday, July 10th. Wells Fargo & Company decreased their price target on Equitable from $45.00 to $43.00 and set an “overweight” rating on the stock in a research note on Monday. UBS Group downgraded Equitable from a “buy” rating to a “neutral” rating and lifted their price target for the company from $40.00 to $43.00 in a research note on Tuesday, June 18th. JPMorgan Chase & Co. lifted their price target on Equitable from $36.00 to $45.00 and gave the company a “neutral” rating in a research note on Tuesday, July 2nd. Finally, Truist Financial lifted their price target on Equitable from $44.00 to $52.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Four equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $44.09.

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.