BTC Capital Management Inc. lifted its holdings in Equitable Holdings, Inc. (NYSE:EQH – Free Report) by 47.2% during the first quarter, Holdings Channel reports. The fund owned 106,789 shares of the company’s stock after buying an additional 34,237 shares during the quarter. BTC Capital Management Inc.’s holdings in Equitable were worth $3,962,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors have also recently made changes to their positions in the business. Price T Rowe Associates Inc. MD lifted its position in Equitable by 7.0% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 17,258,124 shares of the company’s stock valued at $822,351,000 after purchasing an additional 1,132,861 shares during the period. Capital International Investors boosted its holdings in Equitable by 23.0% in the fourth quarter. Capital International Investors now owns 13,545,628 shares of the company’s stock valued at $645,449,000 after purchasing an additional 2,532,791 shares during the last quarter. Norges Bank acquired a new stake in Equitable during the 4th quarter worth about $550,995,000. Thornburg Investment Management Inc. grew its position in Equitable by 0.5% during the 4th quarter. Thornburg Investment Management Inc. now owns 4,889,730 shares of the company’s stock worth $232,996,000 after purchasing an additional 22,087 shares during the period. Finally, Massachusetts Financial Services Co. MA raised its stake in shares of Equitable by 4.2% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 4,822,908 shares of the company’s stock valued at $229,812,000 after buying an additional 193,640 shares during the last quarter. Hedge funds and other institutional investors own 92.70% of the company’s stock.
Equitable Trading Down 3.5%
EQH stock opened at $43.36 on Thursday. Equitable Holdings, Inc. has a 52-week low of $35.19 and a 52-week high of $56.61. The company has a quick ratio of 0.11, a current ratio of 0.11 and a debt-to-equity ratio of 8.75. The firm has a market cap of $12.21 billion, a P/E ratio of -15.27, a PEG ratio of 0.49 and a beta of 1.10. The company’s 50-day simple moving average is $42.33 and its 200-day simple moving average is $43.12.
Equitable Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 8th. Shareholders of record on Monday, June 1st were issued a $0.30 dividend. The ex-dividend date of this dividend was Monday, June 1st. This is an increase from Equitable’s previous quarterly dividend of $0.27. This represents a $1.20 annualized dividend and a yield of 2.8%. Equitable’s dividend payout ratio is -42.25%.
Wall Street Analyst Weigh In
Several equities analysts have recently issued reports on the company. Wells Fargo & Company boosted their price objective on Equitable from $56.00 to $57.00 and gave the company an “overweight” rating in a report on Tuesday, May 12th. Wall Street Zen upgraded Equitable from a “sell” rating to a “hold” rating in a research report on Saturday, February 28th. UBS Group lifted their price target on Equitable from $58.00 to $63.00 and gave the company a “buy” rating in a research report on Thursday, June 11th. Evercore set a $63.00 price target on Equitable and gave the company an “outperform” rating in a report on Thursday, April 9th. Finally, JPMorgan Chase & Co. lowered their price objective on Equitable from $58.00 to $57.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 29th. Two analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $58.64.
View Our Latest Stock Analysis on EQH
Insider Buying and Selling
In other news, COO Jeffrey J. Hurd sold 14,358 shares of the business’s stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $45.11, for a total value of $647,689.38. Following the completion of the sale, the chief operating officer directly owned 74,748 shares in the company, valued at $3,371,882.28. The trade was a 16.11% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Mark Pearson sold 39,700 shares of the company’s stock in a transaction that occurred on Thursday, June 18th. The stock was sold at an average price of $45.28, for a total value of $1,797,616.00. Following the transaction, the chief executive officer directly owned 765,903 shares of the company’s stock, valued at approximately $34,680,087.84. The trade was a 4.93% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 216,919 shares of company stock valued at $9,118,088 in the last 90 days. Corporate insiders own 1.10% of the company’s stock.
Equitable Profile
Equitable Holdings, Inc (NYSE: EQH) is a leading provider of life insurance, annuities and retirement plan services in the United States. Through its insurance subsidiary, AXA Equitable Life Insurance Company, the firm offers a broad range of permanent and term life insurance products designed to help individuals and families manage risk and build wealth. In addition, Equitable provides fixed, variable and indexed annuity solutions to support income planning in retirement, as well as a suite of group retirement and pension plan services for employers and plan sponsors.
The company also maintains an asset management arm that delivers investment strategies across equities, fixed income and alternative asset classes for both retail and institutional clients.
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