Wealthfront Advisers LLC Takes $566,000 Position in Equitable Holdings, Inc. (NYSE:EQH)

Wealthfront Advisers LLC purchased a new stake in shares of Equitable Holdings, Inc. (NYSE:EQH) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 11,989 shares of the company’s stock, valued at approximately $566,000.

Several other large investors have also made changes to their positions in EQH. GSA Capital Partners LLP bought a new stake in Equitable in the third quarter valued at about $243,000. Sumitomo Mitsui Trust Group Inc. increased its holdings in Equitable by 1.1% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 711,855 shares of the company’s stock valued at $29,919,000 after purchasing an additional 7,720 shares during the last quarter. Victory Capital Management Inc. increased its holdings in Equitable by 24.2% in the third quarter. Victory Capital Management Inc. now owns 266,677 shares of the company’s stock valued at $11,208,000 after purchasing an additional 51,990 shares during the last quarter. CIBC Asset Management Inc increased its holdings in Equitable by 5.2% in the third quarter. CIBC Asset Management Inc now owns 11,765 shares of the company’s stock valued at $494,000 after purchasing an additional 584 shares during the last quarter. Finally, Natixis Advisors LLC increased its holdings in Equitable by 76.4% in the third quarter. Natixis Advisors LLC now owns 33,321 shares of the company’s stock valued at $1,400,000 after purchasing an additional 14,434 shares during the last quarter. Institutional investors and hedge funds own 92.70% of the company’s stock.

Insider Activity at Equitable

In related news, CAO William James Iv Eckert sold 1,700 shares of the stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $46.68, for a total transaction of $79,356.00. Following the completion of the transaction, the chief accounting officer now directly owns 17,677 shares of the company’s stock, valued at approximately $825,162.36. This represents a 8.77 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Nick Lane sold 25,000 shares of the firm’s stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $45.84, for a total value of $1,146,000.00. Following the completion of the sale, the insider now directly owns 141,629 shares of the company’s stock, valued at approximately $6,492,273.36. The trade was a 15.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 95,032 shares of company stock valued at $4,799,566. Insiders own 1.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. Deutsche Bank Aktiengesellschaft upgraded Equitable from a “hold” rating to a “buy” rating and upped their price objective for the company from $47.00 to $58.00 in a report on Friday, January 10th. BMO Capital Markets upped their price objective on Equitable from $69.00 to $72.00 and gave the company an “outperform” rating in a report on Tuesday, February 25th. Truist Financial increased their price target on Equitable from $52.00 to $60.00 and gave the stock a “buy” rating in a report on Monday, February 10th. Keefe, Bruyette & Woods increased their price target on Equitable from $62.00 to $66.00 and gave the stock an “outperform” rating in a report on Friday, February 28th. Finally, Wells Fargo & Company increased their price target on Equitable from $61.00 to $62.00 and gave the stock an “overweight” rating in a report on Tuesday, February 25th. Two investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $57.75.

Equitable Stock Up 3.5 %

NYSE:EQH opened at $51.28 on Monday. The company has a debt-to-equity ratio of 3.07, a quick ratio of 0.12 and a current ratio of 0.07. The company has a market cap of $15.79 billion, a PE ratio of 13.42 and a beta of 1.39. Equitable Holdings, Inc. has a 52-week low of $35.18 and a 52-week high of $56.00. The stock has a 50-day simple moving average of $52.42 and a 200 day simple moving average of $47.62.

Equitable (NYSE:EQH) last posted its quarterly earnings data 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 return on equity of 85.70% and a net margin of 10.51%. On average, sell-side analysts expect that Equitable Holdings, Inc. will post 7.33 EPS for the current fiscal year.

Equitable Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 12th. Investors of record on Wednesday, March 5th were given a dividend of $0.24 per share. The ex-dividend date was Wednesday, March 5th. This represents a $0.96 annualized dividend and a yield of 1.87%. Equitable’s dividend payout ratio (DPR) is presently 25.13%.

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.