T. Rowe Price Investment Management Inc. Sells 17,181 Shares of Equitable Holdings, Inc. (NYSE:EQH)

T. Rowe Price Investment Management Inc. decreased its holdings in shares of Equitable Holdings, Inc. (NYSE:EQH) by 3.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 524,200 shares of the company’s stock after selling 17,181 shares during the quarter. T. Rowe Price Investment Management Inc.’s holdings in Equitable were worth $24,727,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in EQH. JPMorgan Chase & Co. lifted its holdings in Equitable by 20.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 908,653 shares of the company’s stock worth $38,191,000 after purchasing an additional 153,457 shares in the last quarter. Miracle Mile Advisors LLC bought a new position in shares of Equitable in the fourth quarter valued at approximately $295,000. Principal Financial Group Inc. grew its stake in Equitable by 7.5% during the third quarter. Principal Financial Group Inc. now owns 2,117,568 shares of the company’s stock valued at $89,001,000 after acquiring an additional 148,180 shares in the last quarter. Vest Financial LLC lifted its stake in Equitable by 11.7% in the 4th quarter. Vest Financial LLC now owns 752,091 shares of the company’s stock worth $35,476,000 after purchasing an additional 78,725 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new position in Equitable in the 4th quarter valued at $29,939,000. Hedge funds and other institutional investors own 92.70% of the company’s stock.

Insider Activity at Equitable

In other news, COO Jeffrey J. Hurd sold 6,666 shares of the stock in a transaction that occurred on Tuesday, April 15th. The stock was sold at an average price of $47.57, for a total value of $317,101.62. Following the completion of the transaction, the chief operating officer now owns 101,646 shares of the company’s stock, valued at approximately $4,835,300.22. This represents a 6.15 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Mark Pearson sold 30,000 shares of Equitable stock in a transaction that occurred on Tuesday, April 15th. The shares were sold at an average price of $47.56, for a total value of $1,426,800.00. Following the sale, the chief executive officer now owns 743,206 shares in the company, valued at $35,346,877.36. This represents a 3.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 83,332 shares of company stock worth $4,141,315 over the last quarter. 1.10% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of brokerages have weighed in on EQH. Keefe, Bruyette & Woods upped their target price on Equitable from $62.00 to $66.00 and gave the stock an “outperform” rating in a research note on Friday, February 28th. Morgan Stanley cut their price target on shares of Equitable from $68.00 to $58.00 and set an “overweight” rating for the company in a research note on Thursday, April 10th. Wells Fargo & Company lowered their price objective on shares of Equitable from $62.00 to $59.00 and set an “overweight” rating on the stock in a research report on Thursday, April 10th. Deutsche Bank Aktiengesellschaft upgraded Equitable from a “hold” rating to a “buy” rating and upped their price objective for the stock from $47.00 to $58.00 in a report on Friday, January 10th. Finally, Truist Financial raised their price objective on Equitable from $52.00 to $60.00 and gave the company a “buy” rating in a report on Monday, February 10th. One equities research analyst has rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $60.91.

Equitable Stock Down 0.8 %

Shares of NYSE EQH opened at $49.67 on Friday. The company has a market cap of $15.24 billion, a price-to-earnings ratio of 13.00 and a beta of 1.23. 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 firm’s fifty day moving average is $50.49 and its 200 day moving average is $49.31. Equitable Holdings, Inc. has a 52 week low of $36.46 and a 52 week high of $56.00.

Equitable (NYSE:EQH) last posted its earnings results on Wednesday, February 5th. The company reported $1.57 earnings per share for the quarter, missing analysts’ consensus estimates of $1.65 by ($0.08). Equitable had a return on equity of 85.70% and a net margin of 10.51%. On average, equities research analysts expect that Equitable Holdings, Inc. will post 7.33 earnings per share for the current year.

Equitable Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 12th. Stockholders of record on Wednesday, March 5th were paid a dividend of $0.24 per share. The ex-dividend date of this dividend was Wednesday, March 5th. This represents a $0.96 annualized dividend and a dividend yield of 1.93%. Equitable’s dividend payout ratio (DPR) is presently 25.13%.

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.