IFP Advisors Inc Boosts Holdings in Equitable Holdings, Inc. $EQH

IFP Advisors Inc boosted its position in Equitable Holdings, Inc. (NYSE:EQH) by 57.4% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,530 shares of the company’s stock after buying an additional 558 shares during the period. IFP Advisors Inc’s holdings in Equitable were worth $86,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of EQH. Boston Partners purchased a new position in Equitable in the 1st quarter valued at $108,264,000. Allspring Global Investments Holdings LLC lifted its holdings in Equitable by 5,536.0% in the first quarter. Allspring Global Investments Holdings LLC now owns 2,109,113 shares of the company’s stock valued at $110,286,000 after acquiring an additional 2,071,691 shares during the period. Wellington Management Group LLP lifted its holdings in Equitable by 23.4% in the first quarter. Wellington Management Group LLP now owns 10,878,516 shares of the company’s stock valued at $566,662,000 after acquiring an additional 2,061,496 shares during the period. Nuveen LLC acquired a new stake in Equitable in the first quarter valued at $99,319,000. Finally, Robeco Institutional Asset Management B.V. lifted its holdings in Equitable by 553.0% in the second quarter. Robeco Institutional Asset Management B.V. now owns 2,166,713 shares of the company’s stock valued at $121,553,000 after acquiring an additional 1,834,889 shares during the period. 92.70% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, COO Jeffrey J. Hurd sold 6,790 shares of the business’s stock in a transaction dated Wednesday, October 15th. The shares were sold at an average price of $48.99, for a total value of $332,642.10. Following the completion of the transaction, the chief operating officer owned 75,098 shares of the company’s stock, valued at approximately $3,679,051.02. The trade was a 8.29% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Mark Pearson sold 39,700 shares of the business’s stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $53.05, for a total transaction of $2,106,085.00. Following the completion of the transaction, the chief executive officer directly owned 703,029 shares of the company’s stock, valued at $37,295,688.45. The trade was a 5.35% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 139,258 shares of company stock worth $7,449,913. Company insiders own 1.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on EQH shares. Weiss Ratings reissued a “hold (c)” rating on shares of Equitable in a report on Tuesday, October 14th. Wall Street Zen downgraded Equitable from a “hold” rating to a “sell” rating in a report on Saturday. Evercore ISI raised their target price on Equitable from $63.00 to $64.00 and gave the company an “outperform” rating in a report on Thursday, October 9th. Barclays reissued an “overweight” rating and issued a $63.00 target price on shares of Equitable in a report on Wednesday, October 8th. Finally, Wells Fargo & Company lifted their price target on Equitable from $63.00 to $65.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $64.45.

Equitable Trading Up 0.4%

NYSE:EQH opened at $47.43 on Monday. The company has a market capitalization of $14.21 billion, a PE ratio of 38.25 and a beta of 1.10. The company has a quick ratio of 0.14, a current ratio of 0.14 and a debt-to-equity ratio of 4.94. Equitable Holdings, Inc. has a 52-week low of $41.39 and a 52-week high of $56.61. The stock has a fifty day simple moving average of $52.27 and a 200-day simple moving average of $51.87.

Equitable Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, August 12th. Investors of record on Tuesday, August 5th were paid a $0.27 dividend. The ex-dividend date of this dividend was Tuesday, August 5th. This represents a $1.08 annualized dividend and a yield of 2.3%. Equitable’s payout ratio is presently 87.10%.

About Equitable

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.