Citizens Financial Group Inc. RI Takes Position in Equinix, Inc. (NASDAQ:EQIX)

Citizens Financial Group Inc. RI purchased a new position in shares of Equinix, Inc. (NASDAQ:EQIX) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 269 shares of the financial services provider’s stock, valued at approximately $239,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of EQIX. Principal Financial Group Inc. boosted its stake in shares of Equinix by 0.3% during the third quarter. Principal Financial Group Inc. now owns 1,894,101 shares of the financial services provider’s stock worth $1,681,256,000 after buying an additional 5,910 shares during the period. Dimensional Fund Advisors LP raised its stake in Equinix by 1.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,333,992 shares of the financial services provider’s stock valued at $1,009,293,000 after acquiring an additional 19,844 shares during the last quarter. Clearbridge Investments LLC lifted its position in Equinix by 21.5% during the 2nd quarter. Clearbridge Investments LLC now owns 902,493 shares of the financial services provider’s stock worth $682,826,000 after acquiring an additional 159,576 shares during the period. Canada Pension Plan Investment Board lifted its position in Equinix by 7.2% during the 2nd quarter. Canada Pension Plan Investment Board now owns 879,999 shares of the financial services provider’s stock worth $665,807,000 after acquiring an additional 59,343 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. grew its stake in shares of Equinix by 4.9% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 506,082 shares of the financial services provider’s stock valued at $449,214,000 after purchasing an additional 23,479 shares during the last quarter. 94.94% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, EVP Scott Crenshaw sold 1,107 shares of the firm’s stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $815.60, for a total transaction of $902,869.20. Following the completion of the transaction, the executive vice president now directly owns 4 shares of the company’s stock, valued at $3,262.40. This trade represents a 99.64 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Christopher B. Paisley sold 100 shares of the company’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $891.00, for a total value of $89,100.00. Following the completion of the sale, the director now directly owns 17,794 shares in the company, valued at approximately $15,854,454. The trade was a 0.56 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 13,754 shares of company stock worth $11,666,756. Insiders own 0.27% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. BMO Capital Markets upped their price target on Equinix from $975.00 to $1,020.00 and gave the stock an “outperform” rating in a research note on Thursday, October 31st. Stifel Nicolaus upped their price objective on shares of Equinix from $995.00 to $1,080.00 and gave the stock a “buy” rating in a research report on Wednesday. Barclays lifted their target price on shares of Equinix from $810.00 to $822.00 and gave the company an “equal weight” rating in a report on Monday, November 18th. TD Cowen increased their price target on shares of Equinix from $865.00 to $984.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Finally, Scotiabank lifted their price objective on Equinix from $954.00 to $985.00 and gave the company a “sector outperform” rating in a report on Thursday, October 31st. Five investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $952.88.

Equinix Trading Up 1.4 %

Shares of EQIX stock opened at $936.37 on Friday. The stock has a market cap of $90.35 billion, a P/E ratio of 84.43, a P/E/G ratio of 2.38 and a beta of 0.71. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 1.12. Equinix, Inc. has a fifty-two week low of $684.14 and a fifty-two week high of $943.02. The business has a fifty day simple moving average of $891.74 and a 200-day simple moving average of $825.46.

Equinix Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 11th. Shareholders of record on Wednesday, November 13th will be issued a dividend of $4.26 per share. The ex-dividend date of this dividend is Wednesday, November 13th. This represents a $17.04 annualized dividend and a yield of 1.82%. Equinix’s dividend payout ratio (DPR) is currently 153.65%.

Equinix Company Profile

Equinix (Nasdaq: EQIX) is the world's digital infrastructure company . Digital leaders harness Equinix's trusted platform to bring together and interconnect foundational infrastructure at software speed. Equinix enables organizations to access all the right places, partners and possibilities to scale with agility, speed the launch of digital services, deliver world-class experiences and multiply their value, while supporting their sustainability goals.