Allstate Corp Invests $431,000 in Equitable Holdings, Inc. (NYSE:EQH)

Allstate Corp acquired a new stake in shares of Equitable Holdings, Inc. (NYSE:EQH) during the fourth quarter, HoldingsChannel reports. The firm acquired 9,130 shares of the company’s stock, valued at approximately $431,000.

A number of other hedge funds and other institutional investors have also modified their holdings of EQH. Norges Bank acquired a new stake in shares of Equitable in the 4th quarter worth approximately $668,250,000. State Street Corp raised its holdings in Equitable by 2.7% during the third quarter. State Street Corp now owns 12,976,870 shares of the company’s stock worth $545,418,000 after purchasing an additional 338,205 shares in the last quarter. Wellington Management Group LLP raised its holdings in Equitable by 3.0% during the third quarter. Wellington Management Group LLP now owns 5,513,571 shares of the company’s stock worth $231,735,000 after purchasing an additional 161,376 shares in the last quarter. Amundi boosted its stake in Equitable by 56.3% during the 4th quarter. Amundi now owns 2,659,691 shares of the company’s stock valued at $130,351,000 after purchasing an additional 957,828 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its stake in Equitable by 20.7% during the 4th quarter. Principal Financial Group Inc. now owns 2,554,890 shares of the company’s stock valued at $120,529,000 after purchasing an additional 437,322 shares in the last quarter. 92.70% of the stock is currently owned by institutional investors.

Equitable Price Performance

EQH opened at $54.97 on Thursday. The firm has a market capitalization of $16.87 billion, a P/E ratio of 14.39 and a beta of 1.39. The stock has a fifty day moving average of $53.05 and a 200-day moving average of $48.69. The company has a quick ratio of 0.12, a current ratio of 0.07 and a debt-to-equity ratio of 3.07. Equitable Holdings, Inc. has a 12-month low of $35.49 and a 12-month high of $56.00.

Equitable (NYSE:EQH) last announced its quarterly earnings data on Wednesday, February 5th. The company reported $1.57 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.65 by ($0.08). Equitable had a return on equity of 85.70% and a net margin of 10.51%. Equities analysts forecast that Equitable Holdings, Inc. will post 7.33 EPS for the current fiscal year.

Equitable Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 12th. Investors of record on Wednesday, March 5th were given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 1.75%. The ex-dividend date of this dividend was Wednesday, March 5th. Equitable’s payout ratio is presently 25.13%.

Analyst Ratings Changes

EQH has been the subject of several research analyst reports. BMO Capital Markets upped their price objective on Equitable from $69.00 to $72.00 and gave the company an “outperform” rating in a report on Tuesday, February 25th. Truist Financial upped their price target on shares of Equitable from $52.00 to $60.00 and gave the company a “buy” rating in a report on Monday, February 10th. Keefe, Bruyette & Woods lifted their price objective on shares of Equitable from $62.00 to $66.00 and gave the stock an “outperform” rating in a research note on Friday, February 28th. Wells Fargo & Company increased their target price on shares of Equitable from $61.00 to $62.00 and gave the company an “overweight” rating in a research note on Tuesday, February 25th. Finally, UBS Group upgraded shares of Equitable from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $49.00 to $77.00 in a research report on Wednesday. One analyst has rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $60.75.

Insider Buying and Selling at Equitable

In related news, CEO Mark Pearson sold 30,000 shares of the company’s stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $51.65, for a total value of $1,549,500.00. Following the completion of the sale, the chief executive officer now directly owns 629,939 shares in the company, valued at approximately $32,536,349.35. This represents a 4.55 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Nick Lane sold 25,000 shares of the stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $51.65, for a total transaction of $1,291,250.00. Following the transaction, the insider now directly owns 121,629 shares in the company, valued at $6,282,137.85. The trade was a 17.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 103,332 shares of company stock worth $5,364,610. 1.10% of the stock is currently owned by company insiders.

Equitable Profile

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.