DNB Asset Management AS Has $2.38 Million Stock Position in Equitable Holdings, Inc. (NYSE:EQH)

DNB Asset Management AS boosted its holdings in shares of Equitable Holdings, Inc. (NYSE:EQH) by 15.2% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 58,140 shares of the company’s stock after acquiring an additional 7,674 shares during the quarter. DNB Asset Management AS’s holdings in Equitable were worth $2,376,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of EQH. GAMMA Investing LLC boosted its holdings in shares of Equitable by 243.3% during the second quarter. GAMMA Investing LLC now owns 6,657 shares of the company’s stock worth $272,000 after purchasing an additional 4,718 shares during the period. Kathmere Capital Management LLC boosted its stake in shares of Equitable by 15.2% during the 2nd quarter. Kathmere Capital Management LLC now owns 7,699 shares of the company’s stock valued at $315,000 after buying an additional 1,014 shares during the period. EverSource Wealth Advisors LLC grew its holdings in shares of Equitable by 141.4% during the 1st quarter. EverSource Wealth Advisors LLC now owns 2,605 shares of the company’s stock valued at $96,000 after acquiring an additional 1,526 shares in the last quarter. Teachers Retirement System of The State of Kentucky increased its stake in shares of Equitable by 23.1% in the first quarter. Teachers Retirement System of The State of Kentucky now owns 106,900 shares of the company’s stock worth $4,064,000 after acquiring an additional 20,067 shares during the last quarter. Finally, Cetera Advisors LLC raised its holdings in shares of Equitable by 37.5% during the first quarter. Cetera Advisors LLC now owns 13,227 shares of the company’s stock worth $503,000 after acquiring an additional 3,608 shares in the last quarter. Hedge funds and other institutional investors own 92.70% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. Morgan Stanley boosted their target price on Equitable from $44.00 to $46.00 and gave the company an “overweight” rating in a research note on Wednesday, July 10th. Truist Financial increased their price objective on Equitable from $44.00 to $52.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Wells Fargo & Company reduced their target price on shares of Equitable from $46.00 to $44.00 and set an “overweight” rating for the company in a research note on Friday, May 10th. Jefferies Financial Group raised their price target on shares of Equitable from $46.00 to $51.00 and gave the company a “buy” rating in a report on Friday, June 28th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Equitable from $36.00 to $45.00 and gave the stock a “neutral” rating in a report on Tuesday, July 2nd. Four research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $44.18.

Equitable Price Performance

Shares of Equitable stock traded up $0.91 during midday trading on Tuesday, hitting $37.96. The company had a trading volume of 2,789,082 shares, compared to its average volume of 2,657,009. Equitable Holdings, Inc. has a 1-year low of $24.65 and a 1-year high of $44.50. The business’s 50 day simple moving average is $41.18 and its two-hundred day simple moving average is $37.94. The stock has a market cap of $12.35 billion, a PE ratio of 11.75 and a beta of 1.43.

Equitable (NYSE:EQH) last posted its quarterly earnings results on Tuesday, July 30th. The company reported $1.43 earnings per share (EPS) for the quarter, topping the consensus estimate 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. The business’s revenue for the quarter was up 47.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.17 earnings per share. On average, sell-side analysts expect that Equitable Holdings, Inc. will post 6.05 EPS for the current fiscal year.

Equitable Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, August 13th. Shareholders of record on Tuesday, August 6th will be issued a $0.24 dividend. The ex-dividend date of this dividend is Tuesday, August 6th. This represents a $0.96 annualized dividend and a yield of 2.53%. Equitable’s dividend payout ratio (DPR) is 29.72%.

Insiders Place Their Bets

In other news, COO Jeffrey J. Hurd sold 9,969 shares of the business’s stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $43.09, for a total transaction of $429,564.21. Following the sale, 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 document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 1.10% of the company’s stock.

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.