Man Group plc raised its stake in shares of Equitable Holdings Inc (NYSE:EQH) by 27.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,704,474 shares of the company’s stock after purchasing an additional 365,252 shares during the quarter. Man Group plc owned 0.37% of Equitable worth $42,238,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Banco Santander S.A. acquired a new stake in Equitable during the fourth quarter valued at approximately $764,000. Public Employees Retirement System of Ohio raised its stake in shares of Equitable by 12.6% in the third quarter. Public Employees Retirement System of Ohio now owns 126,455 shares of the company’s stock valued at $2,802,000 after acquiring an additional 14,182 shares during the last quarter. Voya Investment Management LLC raised its stake in shares of Equitable by 365.5% in the third quarter. Voya Investment Management LLC now owns 451,551 shares of the company’s stock valued at $10,006,000 after acquiring an additional 354,545 shares during the last quarter. Squarepoint Ops LLC raised its stake in shares of Equitable by 20.2% in the third quarter. Squarepoint Ops LLC now owns 77,127 shares of the company’s stock valued at $1,709,000 after acquiring an additional 12,936 shares during the last quarter. Finally, State Street Corp raised its stake in shares of Equitable by 6.5% in the third quarter. State Street Corp now owns 8,923,884 shares of the company’s stock valued at $197,753,000 after acquiring an additional 546,887 shares during the last quarter. 87.72% of the stock is currently owned by institutional investors.
A number of research firms have recently issued reports on EQH. Wells Fargo & Co upgraded shares of Equitable from an “equal weight” rating to an “overweight” rating and set a $30.00 target price for the company in a research note on Monday, January 6th. Zacks Investment Research cut shares of Equitable from a “buy” rating to a “hold” rating in a research note on Thursday, March 19th. Royal Bank of Canada lowered shares of Equitable from an “outperform” rating to a “sector perform” rating and lowered their target price for the stock from $27.00 to $20.00 in a report on Friday, March 20th. ValuEngine lowered shares of Equitable from a “hold” rating to a “sell” rating in a report on Tuesday. Finally, Morgan Stanley decreased their price target on shares of Equitable from $29.00 to $21.00 and set an “overweight” rating for the company in a report on Tuesday, March 17th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $23.88.
Shares of EQH stock opened at $13.42 on Wednesday. The firm’s 50-day moving average is $20.87 and its 200-day moving average is $22.82. The stock has a market cap of $4.84 billion, a price-to-earnings ratio of -3.82, a PEG ratio of 0.38 and a beta of 1.40. Equitable Holdings Inc has a 52-week low of $9.89 and a 52-week high of $27.30.
Equitable (NYSE:EQH) last released its quarterly earnings results on Thursday, February 27th. The company reported $1.37 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.18 by $0.19. The company had revenue of $1.69 billion during the quarter, compared to the consensus estimate of $3.23 billion. As a group, research analysts anticipate that Equitable Holdings Inc will post 4.68 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Monday, March 16th. Shareholders of record on Monday, March 9th were issued a $0.15 dividend. The ex-dividend date of this dividend was Friday, March 6th. This represents a $0.60 annualized dividend and a yield of 4.47%. Equitable’s dividend payout ratio is currently 12.37%.
In related news, CEO Mark Pearson acquired 12,635 shares of the company’s stock in a transaction that occurred on Monday, March 9th. The stock was acquired at an average price of $15.38 per share, with a total value of $194,326.30. Also, Director George Stansfield acquired 2,500 shares of the company’s stock in a transaction that occurred on Monday, March 23rd. The stock was bought at an average cost of $10.41 per share, with a total value of $26,025.00. Following the purchase, the director now owns 5,000 shares in the company, valued at $52,050. The disclosure for this purchase can be found here. Over the last three months, insiders acquired 59,475 shares of company stock worth $868,606. Insiders own 0.16% of the company’s stock.
Equitable Holdings, Inc operates as a diversified financial services company worldwide. It operates through four segments: Individual Retirement, Group Retirement, Investment Management and Research, and Protection Solutions. The Individual Retirement segment offers a suite of variable annuity products primarily to affluent and high net worth individuals.
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