Equitable Holdings, Inc. (NYSE:EQH) Position Boosted by Allianz Asset Management GmbH

Allianz Asset Management GmbH lifted its stake in Equitable Holdings, Inc. (NYSE:EQH) by 3.7% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 643,633 shares of the company’s stock after purchasing an additional 23,134 shares during the quarter. Allianz Asset Management GmbH owned 0.21% of Equitable worth $30,360,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also made changes to their positions in the stock. Creative Planning lifted its position in Equitable by 3.6% in the 3rd quarter. Creative Planning now owns 13,541 shares of the company’s stock worth $569,000 after buying an additional 476 shares in the last quarter. Raymond James & Associates boosted its position in Equitable by 46.2% during the third quarter. Raymond James & Associates now owns 359,998 shares of the company’s stock valued at $15,131,000 after purchasing an additional 113,783 shares during the last quarter. Allspring Global Investments Holdings LLC grew its stake in Equitable by 5.1% in the third quarter. Allspring Global Investments Holdings LLC now owns 6,852 shares of the company’s stock valued at $288,000 after purchasing an additional 332 shares in the last quarter. Louisiana State Employees Retirement System increased its position in Equitable by 2.4% in the 3rd quarter. Louisiana State Employees Retirement System now owns 88,600 shares of the company’s stock worth $3,724,000 after purchasing an additional 2,100 shares during the last quarter. Finally, Forsta AP Fonden raised its stake in shares of Equitable by 28.5% during the 3rd quarter. Forsta AP Fonden now owns 63,500 shares of the company’s stock worth $2,669,000 after purchasing an additional 14,100 shares in the last quarter. 92.70% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

EQH has been the topic of a number of research reports. Barclays increased their price objective on Equitable from $60.00 to $61.00 and gave the stock an “overweight” rating in a report on Monday, January 6th. Wells Fargo & Company increased their price target on shares of Equitable from $53.00 to $61.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 19th. Deutsche Bank Aktiengesellschaft raised shares of Equitable from a “hold” rating to a “buy” rating and lifted their price objective for the company from $47.00 to $58.00 in a research note on Friday, January 10th. Morgan Stanley increased their target price on shares of Equitable from $60.00 to $61.00 and gave the stock an “overweight” rating in a research report on Friday, February 14th. Finally, Truist Financial raised their target price on Equitable from $52.00 to $60.00 and gave the company a “buy” rating in a report on Monday, February 10th. Two research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $56.58.

Insider Activity at Equitable

In related news, CAO William James Iv Eckert sold 1,700 shares of the company’s stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $46.68, for a total value of $79,356.00. Following the completion of the transaction, the chief accounting officer now directly owns 17,677 shares in the company, 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 available through this hyperlink. Also, COO Jeffrey J. Hurd sold 6,666 shares of Equitable stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $55.38, for a total transaction of $369,163.08. Following the sale, the chief operating officer now owns 104,298 shares in the company, valued at $5,776,023.24. This represents a 6.01 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 131,698 shares of company stock worth $6,534,234. Company insiders own 1.10% of the company’s stock.

Equitable Stock Performance

EQH opened at $51.44 on Monday. The company has a quick ratio of 0.12, a current ratio of 0.07 and a debt-to-equity ratio of 3.07. The stock’s 50 day moving average price is $50.91 and its two-hundred day moving average price is $46.38. The firm has a market capitalization of $16.12 billion, a P/E ratio of 13.46 and a beta of 1.39. Equitable Holdings, Inc. has a 12-month low of $32.96 and a 12-month high of $56.00.

Equitable (NYSE:EQH) last announced its quarterly earnings data on Wednesday, February 5th. The company reported $1.57 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.65 by ($0.08). Equitable had a return on equity of 85.70% and a net margin of 10.51%. On average, equities analysts forecast that Equitable Holdings, Inc. will post 7.33 earnings per share for the current year.

Equitable Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 12th. Stockholders of record on Wednesday, March 5th will be given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.87%. The ex-dividend date of this dividend is Wednesday, March 5th. Equitable’s dividend payout ratio is currently 25.13%.

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.