Public Sector Pension Investment Board bought a new position in Equitable Holdings Inc (NYSE:EQH) in the fourth quarter, Holdings Channel reports. The institutional investor bought 173,035 shares of the company’s stock, valued at approximately $4,288,000.
Other institutional investors also recently made changes to their positions in the company. State Street Corp increased its holdings in Equitable by 23.5% during the 4th quarter. State Street Corp now owns 11,017,230 shares of the company’s stock worth $273,007,000 after purchasing an additional 2,093,346 shares during the period. CI Investments Inc. increased its position in shares of Equitable by 204.6% in the 4th quarter. CI Investments Inc. now owns 1,839,737 shares of the company’s stock worth $45,589,000 after purchasing an additional 1,235,837 shares during the last quarter. Laurion Capital Management LP bought a new stake in shares of Equitable in the 4th quarter worth about $27,632,000. Robeco Institutional Asset Management B.V. increased its position in shares of Equitable by 116.0% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 1,809,786 shares of the company’s stock worth $44,846,000 after purchasing an additional 971,838 shares during the last quarter. Finally, Pzena Investment Management LLC increased its position in shares of Equitable by 5.2% in the 4th quarter. Pzena Investment Management LLC now owns 19,778,140 shares of the company’s stock worth $490,102,000 after purchasing an additional 969,722 shares during the last quarter. 87.72% of the stock is currently owned by institutional investors and hedge funds.
In other news, CEO Mark Pearson bought 14,000 shares of the firm’s stock in a transaction on Thursday, March 12th. The stock was purchased at an average price of $14.17 per share, for a total transaction of $198,380.00. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director George Stansfield bought 2,500 shares of the firm’s stock in a transaction on Monday, March 23rd. The stock was purchased at an average price of $10.41 per share, with a total value of $26,025.00. Following the transaction, the director now owns 5,000 shares in the company, valued at approximately $52,050. The disclosure for this purchase can be found here. In the last ninety days, insiders have purchased 59,475 shares of company stock valued at $868,606. Insiders own 0.16% of the company’s stock.
Shares of NYSE:EQH traded up $1.85 during trading on Wednesday, reaching $15.27. 6,372,688 shares of the company’s stock traded hands, compared to its average volume of 4,460,196. Equitable Holdings Inc has a 12 month low of $9.89 and a 12 month high of $27.30. The company has a 50 day moving average of $20.87 and a 200-day moving average of $22.82. The stock has a market capitalization of $4.84 billion, a P/E ratio of -4.35, a price-to-earnings-growth ratio of 0.38 and a beta of 1.40.
Equitable (NYSE:EQH) last announced its quarterly earnings data on Thursday, February 27th. The company reported $1.37 earnings per share for the quarter, beating analysts’ consensus estimates of $1.18 by $0.19. The business had revenue of $1.69 billion for the quarter, compared to the consensus estimate of $3.23 billion. On average, research analysts anticipate that Equitable Holdings Inc will post 4.68 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 16th. Investors of record on Monday, March 9th were given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 3.93%. The ex-dividend date was Friday, March 6th. Equitable’s dividend payout ratio is presently 12.37%.
A number of equities research analysts recently weighed in on EQH shares. Wells Fargo & Co raised shares of Equitable from an “equal weight” rating to an “overweight” rating and set a $30.00 price objective for the company in a research report on Monday, January 6th. Zacks Investment Research downgraded shares of Equitable from a “buy” rating to a “hold” rating in a research report on Thursday, March 19th. Royal Bank of Canada downgraded shares of Equitable from an “outperform” rating to a “sector perform” rating and lowered their price objective for the company from $27.00 to $20.00 in a research report on Friday, March 20th. ValuEngine downgraded shares of Equitable from a “hold” rating to a “sell” rating in a research report on Tuesday. Finally, Morgan Stanley lowered their price objective on shares of Equitable from $29.00 to $21.00 and set an “overweight” rating for the company in a research report on Tuesday, March 17th. One research analyst has rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $23.88.
Equitable Holdings, Inc operates as a diversified financial services company worldwide. It operates through four segments: Individual Retirement, Group Retirement, Investment Management and Research, and Protection Solutions. The Individual Retirement segment offers a suite of variable annuity products primarily to affluent and high net worth individuals.
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