Wedge Capital Management LLP NC trimmed its position in shares of Equitable Holdings, Inc. (NYSE: EQH – Get Rating) by 1.8% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,005,748 shares of the company stock after selling 18,875 shares during the period. Wedge Capital Management LLP NC’s holdings in Equitable were worth $ 31,088,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Norges Bank purchased a new position in shares of Equitable during the 4th quarter valued at $ 773,363,000. Canada Pension Plan Investment Board grew its holdings in shares of Equitable by 1.3% during the 4th quarter. Canada Pension Plan Investment Board now owns 18,240,809 shares of the company stock valued at $ 598,116,000 after acquiring an additional 240,905 shares in the last quarter. Massachusetts Financial Services Co. MA grew its holdings in shares of Equitable by 1.6% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 6,891,102 shares of the company stock valued at $ 225,958,000 after acquiring an additional 107,024 shares in the last quarter. Nuveen Asset Management LLC grew its holdings in shares of Equitable by 7.8% during the 4th quarter. Nuveen Asset Management LLC now owns 6,451,089 shares of the company stock valued at $ 211,531,000 after acquiring an additional 464,261 shares in the last quarter. Finally, Geode Capital Management LLC grew its holdings in shares of Equitable by 0.7% during the 4th quarter. Geode Capital Management LLC now owns 4,625,196 shares of the company stock valued at $ 151,425,000 after acquiring an additional 32,864 shares in the last quarter.
In related news, COO Jeffrey J. Hurd sold 8,000 shares of the stock in a transaction dated Thursday, May 26th. The shares were sold at an average price of $ 30.00, for a total value of $ 240,000.00. Following the completion of the transaction, the chief operating officer now owns 95,904 shares of the company stock, valued at $ 2,877,120. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Mark Pearson sold 30,000 shares of the stock in a transaction dated Monday, April 18th. The stock was sold at an average price of $ 30.54, for a total transaction of $ 916,200.00. Following the completion of the transaction, the chief executive officer now directly owns 492,212 shares of the company stock, valued at approximately $ 15,032,154.48. The disclosure for this sale can be found here. Insiders have sold 101,724 shares of company stock valued at $ 3,086,416 in the last ninety days. 0.98% of the stock is owned by company insiders.
Equitable stock opened at $ 26.56 on Thursday. The firm has a fifty day moving average price of $ 28.90 and a two-hundred day moving average price of $ 31.37. The firm has a market cap of $ 10.12 billion, a price-to-earnings ratio of 6.97 and a beta of 1.49. Equitable Holdings, Inc. has a fifty-two week low of $ 25.22 and a fifty-two week high of $ 37.13.
Equitable (NYSE: EQH – Get Rating) last announced its quarterly earnings data on Monday, May 9th. The company reported $ 1.53 EPS for the quarter, meeting analysts’ consensus estimates of $ 1.53. The company had revenue of $ 3.72 billion for the quarter, compared to analyst estimates of $ 3.61 billion. During the same period in the prior year, the company posted $ 1.13 EPS. Analysts forecast that Equitable Holdings, Inc. will post 6.2 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, June 6th. Stockholders of record on Monday, May 30th were given a dividend of $ 0.20 per share. The ex-dividend date was Thursday, May 26th. This represents a $ 0.80 dividend on an annualized basis and a dividend yield of 3.01%. This is a positive change from Equitable’s previous quarterly dividend of $ 0.18. Equitable’s dividend payout ratio is currently 21.00%.
EQH has been the subject of a number of recent research reports. Citigroup initiated coverage on shares of Equitable in a report on Monday, May 23rd. They issued a “buy” rating and a $ 41.00 price objective for the company. Morgan Stanley decreased their price objective on shares of Equitable from $ 48.00 to $ 47.00 and set an “overweight” rating for the company in a report on Friday, April 8th. UBS Group upgraded shares of Equitable to a “positive” rating in a report on Wednesday, May 11th. Barclays decreased their price objective on shares of Equitable from $ 43.00 to $ 37.00 in a report on Thursday, May 12th. Finally, JPMorgan Chase & Co. upgraded shares of Equitable from a “neutral” rating to an “overweight” rating and set a $ 36.00 price objective for the company in a report on Wednesday, May 25th. Eight investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Equitable has a consensus rating of “Buy” and an average price target of $ 43.14.
About Equitable: (Get Rating)
Equitable Holdings, Inc, together with its consolidated subsidiaries, operates as a diversified financial services company worldwide. The company operates through four segments: Individual Retirement, Group Retirement, Investment Management and Research, and Protection Solutions. The Individual Retirement segment offers a suite of variable annuity products primarily to affluent and high net worth individuals.
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