Quantbot Technologies LP Increases Holdings in Equitable Holdings, Inc. (NYSE:EQH)

Quantbot Technologies LP lifted its holdings in Equitable Holdings, Inc. (NYSE:EQH) by 27.0% in the first quarter, Holdings Channel reports. The fund owned 179,311 shares of the company’s stock after purchasing an additional 38,136 shares during the quarter. Quantbot Technologies LP’s holdings in Equitable were worth $6,816,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. The Manufacturers Life Insurance Company lifted its stake in shares of Equitable by 4,172.5% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 593,017 shares of the company’s stock valued at $16,836,000 after purchasing an additional 579,137 shares during the last quarter. Mercer Global Advisors Inc. ADV bought a new stake in Equitable in the third quarter worth $2,768,000. American Century Companies Inc. lifted its position in Equitable by 37.0% in the third quarter. American Century Companies Inc. now owns 228,150 shares of the company’s stock worth $6,477,000 after buying an additional 61,598 shares during the last quarter. Vanguard Group Inc. increased its position in Equitable by 1.1% during the third quarter. Vanguard Group Inc. now owns 37,565,700 shares of the company’s stock valued at $1,066,490,000 after acquiring an additional 402,720 shares during the last quarter. Finally, Anchor Investment Management LLC purchased a new stake in shares of Equitable in the fourth quarter valued at $683,000. Hedge funds and other institutional investors own 92.70% of the company’s stock.

Insider Activity

In other Equitable news, COO Jeffrey J. Hurd sold 9,969 shares of the firm’s stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $36.24, for a total value of $361,276.56. Following the completion of the sale, the chief operating officer now directly owns 141,062 shares in the company, valued at $5,112,086.88. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, insider Seth P. Bernstein sold 152,473 shares of the stock in a transaction that occurred on Thursday, May 2nd. The shares were sold at an average price of $38.06, for a total value of $5,803,122.38. Following the completion of the transaction, the insider now directly owns 88,660 shares of the company’s stock, valued at approximately $3,374,399.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Jeffrey J. Hurd sold 9,969 shares of Equitable stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $36.24, for a total transaction of $361,276.56. Following the completion of the sale, the chief operating officer now owns 141,062 shares of the company’s stock, valued at $5,112,086.88. The disclosure for this sale can be found here. In the last three months, insiders have sold 202,411 shares of company stock worth $7,646,571. 1.10% of the stock is currently owned by company insiders.

Equitable Stock Up 0.8 %

Shares of EQH stock traded up $0.35 on Friday, hitting $42.39. The stock had a trading volume of 2,317,759 shares, compared to its average volume of 2,706,083. Equitable Holdings, Inc. has a one year low of $24.65 and a one year high of $42.55. The business has a 50 day moving average price of $40.55 and a 200 day moving average price of $36.80. The company has a market cap of $13.79 billion, a PE ratio of 13.12 and a beta of 1.43.

Equitable (NYSE:EQH) last posted its quarterly earnings results on Tuesday, April 30th. The company reported $1.43 EPS for the quarter, beating the consensus estimate of $1.31 by $0.12. The business had revenue of $2.23 billion during the quarter, compared to the consensus estimate of $3.59 billion. During the same quarter in the prior year, the firm posted $0.96 EPS. The company’s revenue for the quarter was down 5.4% compared to the same quarter last year. Equities research analysts expect that Equitable Holdings, Inc. will post 6.11 EPS for the current year.

Equitable Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 10th. Shareholders of record on Monday, June 3rd were given a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 2.26%. The ex-dividend date of this dividend was Monday, June 3rd. This is a boost from Equitable’s previous quarterly dividend of $0.22. Equitable’s dividend payout ratio (DPR) is 29.72%.

Analyst Ratings Changes

A number of equities analysts recently commented on the stock. Evercore ISI lifted their price target on shares of Equitable from $42.00 to $46.00 and gave the stock an “outperform” rating in a research note on Thursday, April 11th. Truist Financial upped their target price on Equitable from $40.00 to $44.00 and gave the company a “buy” rating in a research note on Thursday, May 2nd. Morgan Stanley raised their price target on Equitable from $44.00 to $46.00 and gave the stock an “overweight” rating in a research note on Wednesday. Jefferies Financial Group upped their price objective on Equitable from $46.00 to $51.00 and gave the company a “buy” rating in a research report on Friday, June 28th. Finally, UBS Group downgraded Equitable from a “buy” rating to a “neutral” rating and lifted their target price for the stock from $40.00 to $43.00 in a research report on Tuesday, June 18th. Four research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $42.50.

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.