Equitable Holdings, Inc. (NYSE:EQH - Get Free Report) insider Seth P. Bernstein sold 152,473 shares of the firm's stock in a transaction dated Thursday, May 2nd. The stock was sold at an average price of $38.06, for a total value of $5,803,122.38. Following the transaction, the insider now directly owns 88,660 shares in the company, valued at approximately $3,374,399.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Equitable Price Performance
Equitable stock opened at $38.54 on Friday. The company has a market cap of $12.63 billion, a price-to-earnings ratio of 11.93 and a beta of 1.40. Equitable Holdings, Inc. has a 12 month low of $21.89 and a 12 month high of $39.11. The stock's 50-day moving average is $36.26 and its 200-day moving average is $32.97.
Equitable (NYSE:EQH - Get Free Report) last announced its quarterly earnings results on Tuesday, April 30th. The company reported $1.43 earnings per share for the quarter, topping analysts' consensus estimates of $1.31 by $0.12. The business had revenue of $2.23 billion for the quarter, compared to analysts' expectations of $3.59 billion. During the same period last year, the company posted $0.96 earnings per share. The firm's revenue for the quarter was down 5.4% on a year-over-year basis. Research analysts anticipate that Equitable Holdings, Inc. will post 6.01 EPS for the current year.
Equitable Dividend Announcement
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The company also recently disclosed a quarterly dividend, which was paid on Monday, March 4th. Shareholders of record on Monday, February 26th were issued a $0.22 dividend. The ex-dividend date was Friday, February 23rd. This represents a $0.88 dividend on an annualized basis and a yield of 2.28%. Equitable's dividend payout ratio is currently 27.24%.
Analysts Set New Price Targets
Several equities analysts have issued reports on EQH shares. Evercore ISI boosted their price objective on shares of Equitable from $42.00 to $46.00 and gave the company an "outperform" rating in a research note on Thursday, April 11th. UBS Group raised their price target on Equitable from $34.00 to $40.00 and gave the company a "buy" rating in a report on Wednesday, January 10th. Jefferies Financial Group upped their price objective on Equitable from $42.00 to $45.00 and gave the stock a "buy" rating in a report on Friday, March 22nd. Morgan Stanley boosted their target price on shares of Equitable from $39.00 to $41.00 and gave the stock an "overweight" rating in a research report on Monday, April 15th. Finally, Truist Financial upped their price target on shares of Equitable from $40.00 to $44.00 and gave the stock a "buy" rating in a research note on Thursday. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $40.10.
Check Out Our Latest Analysis on EQH
Hedge Funds Weigh In On Equitable
A number of institutional investors and hedge funds have recently added to or reduced their stakes in EQH. Norges Bank acquired a new position in shares of Equitable in the fourth quarter worth about $606,630,000. Hsbc Holdings PLC increased its holdings in Equitable by 1,161.7% during the 4th quarter. Hsbc Holdings PLC now owns 7,849,706 shares of the company's stock worth $262,692,000 after purchasing an additional 7,227,568 shares during the last quarter. Pzena Investment Management LLC raised its position in shares of Equitable by 10.0% in the 3rd quarter. Pzena Investment Management LLC now owns 26,902,560 shares of the company's stock valued at $763,764,000 after purchasing an additional 2,450,484 shares in the last quarter. Principal Financial Group Inc. grew its position in shares of Equitable by 1,105.3% during the fourth quarter. Principal Financial Group Inc. now owns 1,242,941 shares of the company's stock worth $41,390,000 after buying an additional 1,139,814 shares in the last quarter. Finally, Northern Trust Corp increased its stake in shares of Equitable by 24.6% in the fourth quarter. Northern Trust Corp now owns 3,958,417 shares of the company's stock worth $131,815,000 after buying an additional 781,426 shares during the last quarter. 92.70% of the stock is owned by hedge funds and other institutional investors.
About Equitable
(
Get Free Report)
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.
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