Pzena Investment Management LLC acquired a new stake in Equitable Holdings, Inc. (NYSE:EQH – Free Report) in the second quarter, Holdings Channel reports. The institutional investor acquired 5,561,804 shares of the company’s stock, valued at approximately $244,052,000.
Several other hedge funds have also recently added to or reduced their stakes in the stock. Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in Equitable by 13.1% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 311,976 shares of the company’s stock worth $14,965,000 after acquiring an additional 36,135 shares during the last quarter. The Manufacturers Life Insurance Company increased its stake in Equitable by 20.0% in the first quarter. The Manufacturers Life Insurance Company now owns 627,169 shares of the company’s stock valued at $23,274,000 after purchasing an additional 104,439 shares in the last quarter. Norges Bank acquired a new stake in Equitable in the fourth quarter worth $550,995,000. PFA Pension Forsikringsaktieselskab acquired a new stake in Equitable in the fourth quarter worth $49,209,000. Finally, Diamond Hill Capital Management Inc. boosted its position in shares of Equitable by 114.8% during the fourth quarter. Diamond Hill Capital Management Inc. now owns 4,294,644 shares of the company’s stock worth $204,640,000 after purchasing an additional 2,294,902 shares in the last quarter. Institutional investors and hedge funds own 92.70% of the company’s stock.
Equitable Stock Performance
Shares of EQH opened at $51.02 on Tuesday. The company has a debt-to-equity ratio of 8.75, a quick ratio of 0.15 and a current ratio of 0.15. Equitable Holdings, Inc. has a twelve month low of $35.19 and a twelve month high of $55.15. The firm’s 50 day moving average price is $47.33 and its two-hundred day moving average price is $43.31. The firm has a market cap of $13.93 billion, a P/E ratio of -15.41, a PEG ratio of 0.52 and a beta of 1.09.
Equitable Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Monday, August 10th. Investors of record on Monday, August 3rd were given a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 2.4%. The ex-dividend date of this dividend was Monday, August 3rd. Equitable’s payout ratio is currently -36.25%.
Analysts Set New Price Targets
Several equities analysts have recently issued reports on the stock. JPMorgan Chase & Co. decreased their price target on shares of Equitable from $58.00 to $57.00 and set an “overweight” rating for the company in a report on Wednesday, April 29th. Jefferies Financial Group raised their price objective on Equitable from $64.00 to $66.00 and gave the stock a “buy” rating in a research note on Friday, July 10th. Keefe, Bruyette & Woods lifted their target price on Equitable from $62.00 to $67.00 and gave the stock an “outperform” rating in a report on Tuesday, August 11th. Mizuho set a $68.00 target price on Equitable in a research note on Thursday, August 6th. Finally, Wolfe Research downgraded Equitable from an “outperform” rating to a “peer perform” rating in a report on Thursday, July 9th. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $61.17.
Get Our Latest Stock Report on Equitable
Insider Transactions at Equitable
In other Equitable news, COO Jeffrey J. Hurd sold 14,358 shares of Equitable stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $45.11, for a total value of $647,689.38. Following the sale, the chief operating officer owned 74,748 shares of the company’s stock, valued at $3,371,882.28. This trade represents a 16.11% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Bertram L. Scott sold 2,470 shares of the business’s stock in a transaction dated Thursday, June 4th. The shares were sold at an average price of $41.08, for a total value of $101,467.60. Following the completion of the sale, the director owned 27,931 shares in the company, valued at approximately $1,147,405.48. This trade represents a 8.12% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 114,541 shares of company stock worth $5,357,784. Company 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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