M&T Bank Corp Increases Stock Holdings in Equitable Holdings, Inc. (NYSE:EQH)

M&T Bank Corp boosted its position in shares of Equitable Holdings, Inc. (NYSE:EQH) by 29.1% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 38,718 shares of the company’s stock after purchasing an additional 8,735 shares during the period. M&T Bank Corp’s holdings in Equitable were worth $1,627,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the company. Covestor Ltd increased its holdings in shares of Equitable by 61.5% during the 3rd quarter. Covestor Ltd now owns 646 shares of the company’s stock worth $27,000 after buying an additional 246 shares during the last quarter. &PARTNERS increased its stake 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 acquiring an additional 254 shares during the last quarter. Allspring Global Investments Holdings LLC raised its position in Equitable by 5.1% in the third quarter. Allspring Global Investments Holdings LLC now owns 6,852 shares of the company’s stock valued at $288,000 after purchasing an additional 332 shares during the period. Capital Insight Partners LLC lifted its stake in shares of Equitable by 2.6% in the 2nd quarter. Capital Insight Partners LLC now owns 17,612 shares of the company’s stock valued at $720,000 after purchasing an additional 440 shares during the last quarter. Finally, Creative Planning grew its holdings in shares of Equitable by 3.6% during the 3rd quarter. Creative Planning now owns 13,541 shares of the company’s stock worth $569,000 after purchasing an additional 476 shares during the period. 92.70% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CAO William James Iv Eckert sold 3,500 shares of the business’s 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 completion of the sale, the chief accounting officer now owns 19,321 shares in the company, valued at $819,596.82. The trade was a 15.34 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Mark Pearson sold 30,000 shares of the stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $47.43, for a total transaction of $1,422,900.00. Following the completion of the transaction, the chief executive officer now owns 648,555 shares in the company, valued at $30,760,963.65. This represents a 4.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 100,166 shares of company stock worth $4,443,605 in the last 90 days. Corporate insiders own 1.10% of the company’s stock.

Equitable Stock Up 0.9 %

Equitable stock opened at $47.47 on Friday. The firm has a market capitalization of $14.87 billion, a P/E ratio of -43.55 and a beta of 1.38. The company has a current ratio of 0.12, a quick ratio of 0.12 and a debt-to-equity ratio of 1.63. Equitable Holdings, Inc. has a twelve month low of $31.76 and a twelve month high of $50.51. The stock’s fifty day simple moving average is $46.42 and its 200-day simple moving average is $42.89.

Equitable (NYSE:EQH) last issued its quarterly earnings results on Monday, November 4th. The company reported $1.53 earnings per share for the quarter, hitting the consensus estimate of $1.53. The company had revenue of $3.08 billion for the quarter, compared to the consensus estimate of $3.78 billion. Equitable had a positive return on equity of 76.47% and a negative net margin of 2.64%. Equitable’s revenue was down 15.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.15 EPS. As a group, equities analysts expect that Equitable Holdings, Inc. will post 6.05 earnings per share for the current fiscal year.

Equitable Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 3rd. Investors of record on Tuesday, November 26th were paid a $0.24 dividend. The ex-dividend date of this dividend was Tuesday, November 26th. This represents a $0.96 dividend on an annualized basis and a yield of 2.02%. Equitable’s dividend payout ratio is currently -88.07%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on EQH. Wells Fargo & Company boosted their price objective on shares of Equitable from $43.00 to $47.00 and gave the company an “overweight” rating in a report on Thursday, October 10th. Keefe, Bruyette & Woods upgraded shares of Equitable from a “market perform” rating to an “outperform” rating and upped their price objective for the stock from $54.00 to $58.00 in a report on Monday, December 9th. Barclays lifted their target price on shares of Equitable from $59.00 to $60.00 and gave the company an “overweight” rating in a report on Tuesday, October 8th. Finally, Morgan Stanley decreased their price target on Equitable from $48.00 to $46.00 and set an “overweight” rating on the stock in a research note on Monday, August 19th. Two equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, Equitable has an average rating of “Moderate Buy” and an average target price of $50.10.

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.