Parkwood LLC Has $10.79 Million Stock Position in Equitable Holdings, Inc. (NYSE:EQH)

Parkwood LLC lowered its position in shares of Equitable Holdings, Inc. (NYSE:EQH) by 35.0% during the fourth quarter, HoldingsChannel.com reports. The fund owned 228,690 shares of the company’s stock after selling 123,233 shares during the quarter. Equitable accounts for about 1.2% of Parkwood LLC’s holdings, making the stock its 28th biggest position. Parkwood LLC’s holdings in Equitable were worth $10,787,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently made changes to their positions in EQH. Assetmark Inc. raised its position in Equitable by 33.2% in the fourth quarter. Assetmark Inc. now owns 799 shares of the company’s stock worth $38,000 after acquiring an additional 199 shares during the period. Atomi Financial Group Inc. increased its stake in shares of Equitable by 3.3% during the 4th quarter. Atomi Financial Group Inc. now owns 6,577 shares of the company’s stock worth $310,000 after purchasing an additional 209 shares during the last quarter. Truist Financial Corp raised its holdings in shares of Equitable by 2.8% in the 4th quarter. Truist Financial Corp now owns 9,554 shares of the company’s stock worth $451,000 after purchasing an additional 257 shares during the period. Jones Financial Companies Lllp raised its holdings in shares of Equitable by 10.6% in the 4th quarter. Jones Financial Companies Lllp now owns 2,768 shares of the company’s stock worth $131,000 after purchasing an additional 266 shares during the period. Finally, Colonial Trust Co SC lifted its stake in Equitable by 7.0% in the fourth quarter. Colonial Trust Co SC now owns 4,278 shares of the company’s stock valued at $202,000 after purchasing an additional 278 shares during the last quarter. 92.70% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Equitable news, COO Jeffrey J. Hurd sold 6,666 shares of Equitable stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $55.38, for a total transaction of $369,163.08. Following the sale, the chief operating officer now directly owns 104,298 shares of the company’s stock, valued at approximately $5,776,023.24. The trade was a 6.01% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Nick Lane sold 5,000 shares of the company’s stock in a transaction dated Tuesday, April 15th. The stock was sold at an average price of $47.57, for a total transaction of $237,850.00. Following the completion of the sale, the insider now owns 139,073 shares in the company, valued at approximately $6,615,702.61. This trade represents a 3.47% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 83,332 shares of company stock valued at $4,141,315. 1.10% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on EQH. Keefe, Bruyette & Woods raised their target price on Equitable from $61.00 to $63.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 7th. UBS Group raised Equitable from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $49.00 to $77.00 in a report on Wednesday, April 2nd. Wells Fargo & Company boosted their price objective on Equitable from $59.00 to $61.00 and gave the company an “overweight” rating in a research note on Thursday, May 1st. Truist Financial increased their target price on shares of Equitable from $52.00 to $60.00 and gave the stock a “buy” rating in a research report on Monday, February 10th. Finally, Evercore ISI reduced their target price on shares of Equitable from $69.00 to $64.00 and set an “outperform” rating for the company in a research note on Thursday, May 1st. One research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, Equitable currently has an average rating of “Moderate Buy” and a consensus target price of $61.08.

Equitable Stock Up 0.8%

EQH opened at $54.39 on Wednesday. The business’s fifty day simple moving average is $49.97 and its 200 day simple moving average is $49.83. Equitable Holdings, Inc. has a 52 week low of $36.46 and a 52 week high of $56.00. The company has a quick ratio of 0.12, a current ratio of 0.07 and a debt-to-equity ratio of 3.07. The stock has a market cap of $16.53 billion, a PE ratio of 14.24 and a beta of 1.15.

Equitable (NYSE:EQH) last announced its quarterly earnings data on Tuesday, April 29th. The company reported $1.35 EPS for the quarter, missing the consensus estimate of $1.49 by ($0.14). The firm had revenue of $4.58 billion for the quarter, compared to the consensus estimate of $4.05 billion. Equitable had a net margin of 10.51% and a return on equity of 85.70%. Equitable’s revenue for the quarter was up 105.2% compared to the same quarter last year. During the same quarter last year, the company posted $1.43 earnings per share. As a group, research analysts expect that Equitable Holdings, Inc. will post 7.33 earnings per share for the current fiscal year.

Equitable Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 12th. Shareholders 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 1.77%. The ex-dividend date was Wednesday, March 5th. Equitable’s payout ratio is currently 26.09%.

Equitable Company 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.