Longboard Asset Management LP Makes New Investment in Equitable Holdings, Inc. (NYSE:EQH)

Longboard Asset Management LP bought a new position in shares of Equitable Holdings, Inc. (NYSE:EQH) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 4,608 shares of the company’s stock, valued at approximately $217,000.

Several other institutional investors also recently modified their holdings of EQH. Versant Capital Management Inc raised 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 worth $25,000 after purchasing an additional 352 shares during the period. Covestor Ltd increased its position in Equitable by 61.5% in the third quarter. Covestor Ltd now owns 646 shares of the company’s stock worth $27,000 after buying an additional 246 shares during the last quarter. Carolina Wealth Advisors LLC bought a new stake in shares of Equitable in the third quarter valued at $48,000. UMB Bank n.a. lifted its position in shares of Equitable by 86.3% during the 3rd quarter. UMB Bank n.a. now owns 1,550 shares of the company’s stock valued at $65,000 after buying an additional 718 shares during the last quarter. Finally, MassMutual Private Wealth & Trust FSB grew its stake in shares of Equitable by 298.3% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 1,689 shares of the company’s stock worth $80,000 after acquiring an additional 1,265 shares during the period. 92.70% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms have recently issued reports on EQH. JPMorgan Chase & Co. boosted their price target on shares of Equitable from $45.00 to $53.00 and gave the company a “neutral” rating in a research report on Tuesday, January 7th. Deutsche Bank Aktiengesellschaft raised shares of Equitable from a “hold” rating to a “buy” rating and boosted their target price for the company from $47.00 to $58.00 in a report on Friday, January 10th. BMO Capital Markets initiated coverage on Equitable in a research report on Thursday, January 23rd. They set an “outperform” rating and a $70.00 target price on the stock. Barclays lifted their price target on Equitable from $60.00 to $61.00 and gave the company an “overweight” rating in a research report on Monday, January 6th. Finally, Wells Fargo & Company dropped their price objective on Equitable from $54.00 to $53.00 and set an “overweight” rating on the stock in a report on Tuesday, January 14th. Two analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $53.67.

Insider Transactions at Equitable

In other news, CAO William James Iv Eckert sold 1,700 shares of the business’s 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 transaction, the chief accounting officer now owns 17,677 shares of the company’s stock, valued at approximately $825,162.36. The trade was a 8.77 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, COO Jeffrey J. Hurd sold 6,666 shares of the firm’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $47.53, for a total transaction of $316,834.98. Following the completion of the sale, the chief operating officer now owns 105,246 shares of the company’s stock, valued at $5,002,342.38. This trade represents a 5.96 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 161,698 shares of company stock valued at $7,904,806 in the last ninety days. Corporate insiders own 1.10% of the company’s stock.

Equitable Price Performance

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

Equitable (NYSE:EQH) last announced its quarterly earnings data on Monday, November 4th. The company reported $1.53 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.53. The firm had revenue of $3.08 billion during the quarter, compared to analysts’ expectations 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 for the quarter was down 15.1% compared to the same quarter last year. During the same period in the prior year, the company posted $1.15 earnings per share. On average, equities research analysts forecast that Equitable Holdings, Inc. will post 6 EPS for the current fiscal year.

Equitable Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 3rd. Shareholders 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 was Tuesday, November 26th. Equitable’s payout ratio is -88.07%.

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.