Summit Global Investments Buys New Holdings in Equitable Holdings, Inc. (NYSE:EQH)

Summit Global Investments purchased a new position in shares of Equitable Holdings, Inc. (NYSE:EQH) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 31,951 shares of the company’s stock, valued at approximately $1,064,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Lindbrook Capital LLC raised its holdings in shares of Equitable by 143.1% during the fourth quarter. Lindbrook Capital LLC now owns 1,004 shares of the company’s stock worth $33,000 after purchasing an additional 591 shares during the last quarter. Blue Trust Inc. raised its stake in shares of Equitable by 126.2% during the 4th quarter. Blue Trust Inc. now owns 1,262 shares of the company’s stock valued at $42,000 after buying an additional 704 shares during the last quarter. GAMMA Investing LLC purchased a new position in shares of Equitable during the 4th quarter valued at about $50,000. Harvest Fund Management Co. Ltd acquired a new position in shares of Equitable in the 4th quarter valued at about $64,000. Finally, Cary Street Partners Investment Advisory LLC purchased a new stake in shares of Equitable in the third quarter worth about $67,000. 92.70% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, insider Nick Lane sold 20,000 shares of the company’s stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $34.02, for a total value of $680,400.00. Following the completion of the sale, the insider now owns 144,132 shares of the company’s stock, valued at $4,903,370.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Equitable news, insider Seth P. Bernstein sold 152,473 shares of Equitable stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $38.06, for a total value of $5,803,122.38. Following the sale, the insider now owns 88,660 shares in the company, valued at $3,374,399.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Nick Lane sold 20,000 shares of the stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $34.02, for a total value of $680,400.00. Following the transaction, the insider now owns 144,132 shares of the company’s stock, valued at $4,903,370.64. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 334,380 shares of company stock valued at $12,198,971. Insiders own 1.10% of the company’s stock.

Equitable Trading Up 0.8 %

EQH stock traded up $0.29 during midday trading on Friday, reaching $38.54. The stock had a trading volume of 2,657,433 shares, compared to its average volume of 2,581,093. Equitable Holdings, Inc. has a 52-week low of $21.89 and a 52-week high of $39.11. The company’s fifty day simple moving average is $36.26 and its 200 day simple moving average is $32.97. The company has a market cap of $12.63 billion, a price-to-earnings ratio of 11.93 and a beta of 1.40.

Equitable (NYSE:EQH) last announced its quarterly earnings data on Tuesday, April 30th. The company reported $1.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.31 by $0.12. The business had revenue of $2.23 billion for the quarter, compared to analysts’ expectations of $3.59 billion. The firm’s revenue was down 5.4% on a year-over-year basis. During the same period in the prior year, the company posted $0.96 EPS. Sell-side analysts predict that Equitable Holdings, Inc. will post 6.01 EPS for the current year.

Equitable Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 4th. Investors of record on Monday, February 26th were given a dividend of $0.22 per share. The ex-dividend date was Friday, February 23rd. This represents a $0.88 dividend on an annualized basis and a yield of 2.28%. Equitable’s payout ratio is 27.24%.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on EQH. Evercore ISI lifted their price target on Equitable from $42.00 to $46.00 and gave the company an “outperform” rating in a research report on Thursday, April 11th. Keefe, Bruyette & Woods boosted their target price on shares of Equitable from $39.00 to $41.00 and gave the company a “market perform” rating in a research note on Wednesday, April 10th. Wells Fargo & Company increased their price target on shares of Equitable from $43.00 to $46.00 and gave the stock an “overweight” rating in a report on Thursday, April 11th. Morgan Stanley lifted their price objective on shares of Equitable from $39.00 to $41.00 and gave the company an “overweight” rating in a report on Monday, April 15th. Finally, Truist Financial increased their target price on shares of Equitable from $40.00 to $44.00 and gave the stock a “buy” rating in a research note on Thursday. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $40.10.

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.