Hsbc Holdings PLC increased its holdings in Equitable Holdings, Inc. (NYSE:EQH – Free Report) by 5.8% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 873,962 shares of the company’s stock after acquiring an additional 47,920 shares during the quarter. Hsbc Holdings PLC owned approximately 0.31% of Equitable worth $32,433,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Norges Bank purchased a new stake in Equitable during the 4th quarter worth approximately $550,995,000. Capital International Investors boosted its stake in shares of Equitable by 23.0% during the 4th quarter. Capital International Investors now owns 13,545,628 shares of the company’s stock valued at $645,449,000 after buying an additional 2,532,791 shares during the last quarter. Bank of Montreal Can grew its position in shares of Equitable by 7,955.4% during the fourth quarter. Bank of Montreal Can now owns 2,424,823 shares of the company’s stock worth $116,585,000 after buying an additional 2,394,721 shares in the last quarter. Diamond Hill Capital Management Inc. increased its stake in shares of Equitable by 114.8% in the fourth quarter. Diamond Hill Capital Management Inc. now owns 4,294,644 shares of the company’s stock worth $204,640,000 after buying an additional 2,294,902 shares during the last quarter. Finally, Millennium Management LLC increased its stake in shares of Equitable by 337.4% in the third quarter. Millennium Management LLC now owns 1,502,360 shares of the company’s stock worth $76,290,000 after buying an additional 1,158,890 shares during the last quarter. Hedge funds and other institutional investors own 92.70% of the company’s stock.
Equitable Trading Down 1.7%
Equitable stock opened at $48.15 on Tuesday. Equitable Holdings, Inc. has a 1 year low of $35.19 and a 1 year high of $55.24. The firm’s 50-day moving average is $43.98 and its 200-day moving average is $42.91. The company has a debt-to-equity ratio of 8.75, a quick ratio of 0.11 and a current ratio of 0.11. The company has a market cap of $13.14 billion, a P/E ratio of -16.95, a PEG ratio of 0.48 and a beta of 1.10.
Equitable Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Monday, June 8th. Stockholders of record on Monday, June 1st were given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date was Monday, June 1st. This is a positive change from Equitable’s previous quarterly dividend of $0.27. Equitable’s payout ratio is currently -42.25%.
Insiders Place Their Bets
In related news, Director Bertram L. Scott sold 2,470 shares of the business’s stock in a transaction that occurred on Thursday, June 4th. The stock was sold at an average price of $41.08, for a total transaction of $101,467.60. Following the completion of the transaction, the director owned 27,931 shares in the company, valued at $1,147,405.48. The trade was a 8.12% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Mark Pearson sold 39,700 shares of the company’s stock in a transaction 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 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. In the last quarter, insiders have sold 88,803 shares of company stock worth $3,913,078. 1.10% of the stock is currently owned by insiders.
Analyst Ratings Changes
Several research analysts have weighed in on EQH shares. Zacks Research raised shares of Equitable from a “strong sell” rating to a “hold” rating in a report on Monday, June 29th. Weiss Ratings upgraded shares of Equitable from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Tuesday, July 14th. Mizuho increased their price target on shares of Equitable from $61.00 to $62.00 and gave the stock an “outperform” rating in a research report on Thursday, July 9th. UBS Group lifted their price target on Equitable from $63.00 to $68.00 and gave the stock a “buy” rating in a research note on Wednesday, July 8th. Finally, Barclays cut their price objective on Equitable from $51.00 to $50.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 7th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $60.08.
Get Our Latest Analysis on EQH
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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