Proficio Capital Partners LLC Invests $4.78 Million in Equitable Holdings, Inc. (NYSE:EQH)

Proficio Capital Partners LLC purchased a new stake in shares of Equitable Holdings, Inc. (NYSE:EQH) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 101,312 shares of the company’s stock, valued at approximately $4,779,000.

Several other hedge funds have also added to or reduced their stakes in the company. Atomi Financial Group Inc. raised its holdings in 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. Covestor Ltd grew its position in shares of Equitable by 61.5% during the 3rd quarter. Covestor Ltd now owns 646 shares of the company’s stock worth $27,000 after buying an additional 246 shares during the period. Truist Financial Corp raised its stake in shares of Equitable by 2.8% during the fourth quarter. Truist Financial Corp now owns 9,554 shares of the company’s stock worth $451,000 after buying an additional 257 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. lifted its holdings in Equitable by 2.2% in the fourth quarter. Tokio Marine Asset Management Co. Ltd. now owns 13,380 shares of the company’s stock valued at $631,000 after buying an additional 283 shares during the period. Finally, Versant Capital Management Inc boosted its stake in Equitable by 195.6% in the fourth quarter. Versant Capital Management Inc now owns 532 shares of the company’s stock valued at $25,000 after acquiring an additional 352 shares during the last quarter. Institutional investors own 92.70% of the company’s stock.

Equitable Trading Down 1.5 %

NYSE:EQH opened at $54.21 on Tuesday. The company has a debt-to-equity ratio of 3.07, a current ratio of 0.07 and a quick ratio of 0.12. The business’s 50-day simple moving average is $51.71 and its 200-day simple moving average is $46.92. Equitable Holdings, Inc. has a fifty-two week low of $32.96 and a fifty-two week high of $56.00. The stock has a market capitalization of $16.69 billion, a PE ratio of 14.19 and a beta of 1.39.

Equitable (NYSE:EQH) last announced its quarterly 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 net margin of 10.51% and a return on equity of 85.70%. Sell-side analysts expect that Equitable Holdings, Inc. will post 7.33 earnings per share for the current fiscal year.

Equitable Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 12th. Investors of record on Wednesday, March 5th will be given a $0.24 dividend. The ex-dividend date is Wednesday, March 5th. This represents a $0.96 annualized dividend and a yield of 1.77%. Equitable’s dividend payout ratio is currently 25.13%.

Insider Buying and Selling

In other news, COO Jeffrey J. Hurd sold 6,666 shares of Equitable stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $47.31, for a total value of $315,368.46. Following the sale, the chief operating officer now directly owns 98,875 shares in the company, valued at $4,677,776.25. This trade represents a 6.32 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Nick Lane sold 25,000 shares of the business’s stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $45.84, for a total transaction of $1,146,000.00. Following the completion of the sale, the insider now directly owns 141,629 shares in the company, valued at approximately $6,492,273.36. This represents a 15.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 131,698 shares of company stock valued at $6,534,234. Company insiders own 1.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Barclays upped their target price on shares of Equitable from $60.00 to $61.00 and gave the company an “overweight” rating in a research report on Monday, January 6th. Truist Financial upped 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. Wells Fargo & Company increased their target price on Equitable from $61.00 to $62.00 and gave the company an “overweight” rating in a research note on Tuesday, February 25th. Morgan Stanley boosted their target price on Equitable from $60.00 to $61.00 and gave the stock an “overweight” rating in a research report on Friday, February 14th. Finally, Keefe, Bruyette & Woods increased their price target on shares of Equitable from $62.00 to $66.00 and gave the company an “outperform” rating in a research report on Friday. Two equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $57.17.

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.