Longboard Asset Management LP Invests $217,000 in Equitable Holdings, Inc. (NYSE:EQH)

Longboard Asset Management LP acquired a new stake in shares of Equitable Holdings, Inc. (NYSE:EQH) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 4,608 shares of the company’s stock, valued at approximately $217,000.

Several other institutional investors also recently bought and sold shares of EQH. Versant Capital Management Inc increased its holdings in shares of Equitable by 195.6% in the 4th quarter. Versant Capital Management Inc now owns 532 shares of the company’s stock valued at $25,000 after acquiring an additional 352 shares during the period. Covestor Ltd boosted its position in Equitable by 61.5% during the third quarter. Covestor Ltd now owns 646 shares of the company’s stock valued at $27,000 after purchasing an additional 246 shares in the last quarter. Carolina Wealth Advisors LLC purchased a new position in Equitable in the third quarter valued at about $48,000. UMB Bank n.a. raised its holdings in Equitable by 86.3% in the third quarter. UMB Bank n.a. now owns 1,550 shares of the company’s stock worth $65,000 after purchasing an additional 718 shares in the last quarter. Finally, MassMutual Private Wealth & Trust FSB lifted its position in shares of Equitable by 298.3% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 1,689 shares of the company’s stock valued at $80,000 after buying an additional 1,265 shares during the last quarter. 92.70% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently commented on EQH. Deutsche Bank Aktiengesellschaft upgraded shares of Equitable from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $47.00 to $58.00 in a research note on Friday, January 10th. Barclays increased their price objective on Equitable from $60.00 to $61.00 and gave the company an “overweight” rating in a report on Monday, January 6th. JPMorgan Chase & Co. boosted their target price on Equitable from $45.00 to $53.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 7th. Keefe, Bruyette & Woods raised Equitable from a “market perform” rating to an “outperform” rating and upped their target price for the company from $54.00 to $58.00 in a research report on Monday, December 9th. Finally, Wells Fargo & Company lowered their price target on Equitable from $54.00 to $53.00 and set an “overweight” rating for the company in a report on Tuesday, January 14th. Two investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $53.67.

Equitable Stock Down 1.3 %

EQH stock opened at $53.72 on Tuesday. Equitable Holdings, Inc. has a 52-week low of $32.21 and a 52-week high of $54.82. The company has a debt-to-equity ratio of 1.63, a current ratio of 0.12 and a quick ratio of 0.12. The company’s 50-day simple moving average is $49.11 and its 200-day simple moving average is $45.12.

Equitable (NYSE:EQH) last posted its quarterly earnings data on Monday, November 4th. The company reported $1.53 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.53. The business had revenue of $3.08 billion for the quarter, compared to the consensus estimate of $3.78 billion. Equitable had a negative net margin of 2.64% and a positive return on equity of 76.47%. The company’s revenue was down 15.1% compared to the same quarter last year. During the same period last year, the firm posted $1.15 earnings per share. As a group, equities analysts predict that Equitable Holdings, Inc. will post 6 earnings per share for the current year.

Equitable Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 3rd. Investors of record on Tuesday, November 26th were paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 1.79%. The ex-dividend date of this dividend was Tuesday, November 26th. Equitable’s dividend payout ratio is presently -88.07%.

Insider Buying and Selling

In other Equitable news, CEO Mark Pearson sold 30,000 shares of the firm’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $47.43, for a total value of $1,422,900.00. Following the transaction, the chief executive officer now directly owns 648,555 shares of the company’s stock, valued at $30,760,963.65. This trade represents a 4.42 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Jeffrey J. Hurd sold 6,666 shares of the stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $47.53, for a total value of $316,834.98. Following the completion of the sale, the chief operating officer now directly owns 105,246 shares of the company’s stock, valued at approximately $5,002,342.38. This represents a 5.96 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 161,698 shares of company stock worth $7,904,806. 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.