Rhumbline Advisers Lowers Holdings in Equitable Holdings, Inc. (NYSE:EQH)

Rhumbline Advisers decreased its stake in Equitable Holdings, Inc. (NYSE:EQH) by 4.5% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 961,471 shares of the company’s stock after selling 45,306 shares during the quarter. Rhumbline Advisers owned approximately 0.31% of Equitable worth $45,353,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. AustralianSuper Pty Ltd raised its holdings in Equitable by 126.1% in the 4th quarter. AustralianSuper Pty Ltd now owns 378,953 shares of the company’s stock worth $17,875,000 after purchasing an additional 211,332 shares during the period. New York State Teachers Retirement System raised its holdings in Equitable by 1.5% in the 4th quarter. New York State Teachers Retirement System now owns 144,986 shares of the company’s stock worth $6,839,000 after purchasing an additional 2,205 shares during the period. Vontobel Holding Ltd. acquired a new position in Equitable in the 4th quarter worth about $499,000. Allspring Global Investments Holdings LLC raised its holdings in Equitable by 446.1% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 37,422 shares of the company’s stock worth $1,783,000 after purchasing an additional 30,570 shares during the period. Finally, Avidian Wealth Enterprises LLC raised its holdings in Equitable by 8.9% in the 4th quarter. Avidian Wealth Enterprises LLC now owns 6,597 shares of the company’s stock worth $311,000 after purchasing an additional 538 shares during the period. Hedge funds and other institutional investors own 92.70% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the company. BMO Capital Markets assumed coverage on Equitable in a report on Thursday, January 23rd. They issued an “outperform” rating and a $70.00 price target for the company. Barclays upped their price target on Equitable from $60.00 to $61.00 and gave the stock an “overweight” rating in a report on Monday, January 6th. Deutsche Bank Aktiengesellschaft upgraded Equitable from a “hold” rating to a “buy” rating and raised their target price for the company from $47.00 to $58.00 in a research report on Friday, January 10th. Truist Financial raised their target price on Equitable from $52.00 to $60.00 and gave the company a “buy” rating in a research report on Monday, February 10th. Finally, Morgan Stanley raised their target price on Equitable from $60.00 to $61.00 and gave the company an “overweight” rating in a research report on Friday. Two research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $55.92.

Insider Activity

In other news, CAO William James Iv Eckert sold 1,700 shares of the business’s stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $46.68, for a total value of $79,356.00. Following the completion of the sale, the chief accounting officer now directly owns 17,677 shares of the company’s stock, valued at approximately $825,162.36. The trade was a 8.77 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Mark Pearson sold 30,000 shares of the business’s stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $51.65, for a total value of $1,549,500.00. Following the completion of the sale, the chief executive officer now directly owns 629,939 shares of the company’s stock, valued at $32,536,349.35. The trade was a 4.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 125,032 shares of company stock valued at $6,165,071. Insiders own 1.10% of the company’s stock.

Equitable Trading Up 3.0 %

NYSE:EQH opened at $55.36 on Tuesday. The firm has a market cap of $17.35 billion, a PE ratio of 14.49 and a beta of 1.39. The stock has a fifty day moving average price of $50.34 and a 200 day moving average price of $45.92. Equitable Holdings, Inc. has a 12-month low of $32.96 and a 12-month high of $55.78. The company has a current ratio of 0.07, a quick ratio of 0.12 and a debt-to-equity ratio of 3.07.

Equitable (NYSE:EQH) last released its earnings results on Wednesday, February 5th. The company reported $1.57 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.65 by ($0.08). Equitable had a net margin of 10.51% and a return on equity of 85.70%. Sell-side analysts anticipate that Equitable Holdings, Inc. will post 7.24 earnings per share for the current fiscal year.

Equitable Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 12th. Stockholders of record on Wednesday, March 5th will be issued a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 1.73%. The ex-dividend date of this dividend is Wednesday, March 5th. Equitable’s payout ratio is currently 25.13%.

Equitable 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.