Oppenheimer Asset Management Inc. Has $8.77 Million Stock Position in Equitable Holdings, Inc. (NYSE:EQH)

Oppenheimer Asset Management Inc. reduced its stake in Equitable Holdings, Inc. (NYSE:EQH) by 11.3% during the second quarter, Holdings Channel.com reports. The fund owned 214,694 shares of the company’s stock after selling 27,331 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Equitable were worth $8,772,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. New Covenant Trust Company N.A. acquired a new position in shares of Equitable in the first quarter worth approximately $28,000. LRI Investments LLC acquired a new position in Equitable in the first quarter valued at approximately $45,000. Rise Advisors LLC lifted its stake in Equitable by 1,421.4% in the first quarter. Rise Advisors LLC now owns 1,704 shares of the company’s stock valued at $65,000 after buying an additional 1,592 shares during the period. GAMMA Investing LLC lifted its stake in Equitable by 26.4% in the first quarter. GAMMA Investing LLC now owns 1,939 shares of the company’s stock valued at $74,000 after buying an additional 405 shares during the period. Finally, Quadrant Capital Group LLC lifted its stake in Equitable by 261.3% in the fourth quarter. Quadrant Capital Group LLC now owns 2,269 shares of the company’s stock valued at $76,000 after buying an additional 1,641 shares during the period. 92.70% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the company. Truist Financial boosted their price target on Equitable from $44.00 to $52.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. JPMorgan Chase & Co. upped their target price on Equitable from $36.00 to $45.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 2nd. Keefe, Bruyette & Woods upped their target price on Equitable from $43.00 to $44.00 and gave the stock a “market perform” rating in a research report on Monday, July 8th. UBS Group lowered Equitable from a “buy” rating to a “neutral” rating and upped their target price for the stock from $40.00 to $43.00 in a research report on Tuesday, June 18th. Finally, Wells Fargo & Company lowered their target price on Equitable from $45.00 to $43.00 and set an “overweight” rating on the stock in a research report on Monday, August 12th. Four analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $46.64.

Equitable Trading Up 2.1 %

Shares of Equitable stock opened at $40.12 on Friday. The company has a market capitalization of $13.05 billion, a P/E ratio of 12.42 and a beta of 1.42. The company has a current ratio of 0.12, a quick ratio of 0.12 and a debt-to-equity ratio of 3.06. The stock has a fifty day simple moving average of $40.88 and a 200 day simple moving average of $39.24. Equitable Holdings, Inc. has a 12-month low of $24.65 and a 12-month high of $44.50.

Equitable (NYSE:EQH) last announced its quarterly earnings data on Tuesday, July 30th. The company reported $1.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.40 by $0.03. The firm had revenue of $3.51 billion during the quarter, compared to the consensus estimate of $3.71 billion. Equitable had a return on equity of 87.49% and a net margin of 7.87%. 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 company earned $1.17 EPS. On average, sell-side analysts anticipate that Equitable Holdings, Inc. will post 6.01 earnings per share for the current fiscal year.

Equitable Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, August 13th. Stockholders of record on Tuesday, August 6th were paid a dividend of $0.24 per share. The ex-dividend date of this dividend was Tuesday, August 6th. This represents a $0.96 annualized dividend and a dividend yield of 2.39%. Equitable’s payout ratio is 29.72%.

Insider Transactions at Equitable

In other news, CEO Mark Pearson sold 30,000 shares of the stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $42.20, for a total transaction of $1,266,000.00. Following the completion of the transaction, the chief executive officer now owns 678,555 shares in the company, valued at approximately $28,635,021. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, COO Jeffrey J. Hurd sold 9,969 shares of the stock in a transaction 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 completion of the transaction, the chief operating officer now owns 111,552 shares in the company, valued at approximately $4,806,775.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Mark Pearson sold 30,000 shares of the stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $42.20, for a total value of $1,266,000.00. Following the sale, the chief executive officer now directly owns 678,555 shares in the company, valued at approximately $28,635,021. The disclosure for this sale can be found here. 1.10% of the stock is owned by corporate insiders.

About Equitable

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.