GAMMA Investing LLC Has $540,000 Holdings in Equitable Holdings, Inc. (NYSE:EQH)

GAMMA Investing LLC boosted its holdings in shares of Equitable Holdings, Inc. (NYSE:EQH) by 23.3% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 10,371 shares of the company’s stock after buying an additional 1,961 shares during the period. GAMMA Investing LLC’s holdings in Equitable were worth $540,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of EQH. Price T Rowe Associates Inc. MD lifted its position in shares of Equitable by 2.6% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 21,278,436 shares of the company’s stock worth $1,003,705,000 after buying an additional 535,671 shares during the last quarter. Canada Pension Plan Investment Board raised its stake in shares of Equitable by 0.4% in the 4th quarter. Canada Pension Plan Investment Board now owns 19,032,270 shares of the company’s stock valued at $897,752,000 after acquiring an additional 79,999 shares in the last quarter. Norges Bank acquired a new stake in Equitable in the 4th quarter worth approximately $668,250,000. Wellington Management Group LLP lifted its holdings in Equitable by 59.9% in the 4th quarter. Wellington Management Group LLP now owns 8,817,020 shares of the company’s stock worth $415,899,000 after purchasing an additional 3,303,449 shares during the last quarter. Finally, Invesco Ltd. grew its holdings in Equitable by 4.6% during the fourth quarter. Invesco Ltd. now owns 8,089,046 shares of the company’s stock valued at $381,560,000 after purchasing an additional 355,078 shares during the last quarter. 92.70% of the stock is owned by institutional investors and hedge funds.

Equitable Stock Up 0.3%

EQH stock opened at $56.11 on Tuesday. Equitable Holdings, Inc. has a twelve month low of $36.46 and a twelve month high of $56.61. The company has a quick ratio of 0.10, a current ratio of 0.10 and a debt-to-equity ratio of 2.39. The company has a market cap of $17.05 billion, a PE ratio of 15.25 and a beta of 1.15. The business’s 50-day simple moving average is $52.54 and its 200 day simple moving average is $51.33.

Equitable (NYSE:EQH) last announced its quarterly earnings data on Tuesday, April 29th. The company reported $1.35 EPS for the quarter, missing analysts’ consensus estimates of $1.49 by ($0.14). Equitable had a return on equity of 79.05% and a net margin of 8.50%. The firm had revenue of $4.58 billion during the quarter, compared to the consensus estimate of $4.05 billion. During the same quarter in the prior year, the business posted $1.43 EPS. Equitable’s revenue was up 105.2% compared to the same quarter last year. On average, research analysts anticipate that Equitable Holdings, Inc. will post 7.33 earnings per share for the current year.

Equitable Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 9th. Shareholders of record on Monday, June 2nd were paid a dividend of $0.27 per share. The ex-dividend date of this dividend was Monday, June 2nd. This represents a $1.08 dividend on an annualized basis and a yield of 1.92%. This is an increase from Equitable’s previous quarterly dividend of $0.24. Equitable’s payout ratio is currently 29.35%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on EQH. Keefe, Bruyette & Woods boosted their price objective on shares of Equitable from $61.00 to $63.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 7th. JPMorgan Chase & Co. lifted their target price on shares of Equitable from $53.00 to $55.00 and gave the stock a “neutral” rating in a report on Wednesday, April 2nd. Morgan Stanley upped their price target on shares of Equitable from $58.00 to $67.00 and gave the company an “overweight” rating in a report on Monday, May 19th. Evercore ISI lowered their price target on Equitable from $69.00 to $64.00 and set an “outperform” rating on the stock in a research report on Thursday, May 1st. Finally, Wells Fargo & Company boosted their price objective on Equitable from $59.00 to $61.00 and gave the stock an “overweight” rating in a research report on Thursday, May 1st. One equities research analyst has rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $62.64.

Insider Buying and Selling at Equitable

In other news, CEO Mark Pearson sold 30,000 shares of the stock in a transaction on Monday, June 16th. The shares were sold at an average price of $53.18, for a total value of $1,595,400.00. Following the completion of the transaction, the chief executive officer owned 724,367 shares in the company, valued at approximately $38,521,837.06. This represents a 3.98% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, COO Jeffrey J. Hurd sold 6,666 shares of Equitable stock in a transaction dated Thursday, May 15th. The shares were sold at an average price of $52.91, for a total transaction of $352,698.06. Following the sale, the chief operating officer owned 94,980 shares in the company, valued at approximately $5,025,391.80. This trade represents a 6.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 117,332 shares of company stock worth $5,993,760. Corporate insiders own 1.10% of the company’s stock.

Equitable 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.