Diamond Hill Capital Management Inc. Acquires Shares of 1,999,742 Equitable Holdings, Inc. $EQH

Diamond Hill Capital Management Inc. purchased a new position in Equitable Holdings, Inc. (NYSE:EQH) during the 3rd quarter, HoldingsChannel reports. The fund purchased 1,999,742 shares of the company’s stock, valued at approximately $101,547,000.

Several other large investors also recently bought and sold shares of EQH. True Wealth Design LLC lifted its stake in Equitable by 592.6% in the 2nd quarter. True Wealth Design LLC now owns 561 shares of the company’s stock worth $31,000 after purchasing an additional 480 shares in the last quarter. Root Financial Partners LLC acquired a new stake in shares of Equitable in the third quarter valued at approximately $36,000. Hilltop National Bank acquired a new position in Equitable during the third quarter worth $37,000. Geneos Wealth Management Inc. grew its holdings in Equitable by 92.6% in the 1st quarter. Geneos Wealth Management Inc. now owns 882 shares of the company’s stock valued at $46,000 after buying an additional 424 shares in the last quarter. Finally, MAI Capital Management increased its stake in shares of Equitable by 64.0% in the 2nd quarter. MAI Capital Management now owns 938 shares of the company’s stock worth $53,000 after acquiring an additional 366 shares during the last quarter. Hedge funds and other institutional investors own 92.70% of the company’s stock.

Equitable Stock Up 5.0%

Shares of NYSE:EQH opened at $45.58 on Friday. The firm has a market capitalization of $13.06 billion, a PE ratio of -9.46, a price-to-earnings-growth ratio of 0.35 and a beta of 1.12. Equitable Holdings, Inc. has a 1 year low of $41.39 and a 1 year high of $56.61. The company has a debt-to-equity ratio of 16.42, a current ratio of 0.10 and a quick ratio of 0.13. The firm’s 50-day moving average is $47.07 and its two-hundred day moving average is $49.15.

Equitable Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 1st. Shareholders of record on Monday, November 24th were given a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 2.4%. The ex-dividend date of this dividend was Monday, November 24th. Equitable’s dividend payout ratio (DPR) is currently -22.41%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Wall Street Zen cut shares of Equitable from a “hold” rating to a “sell” rating in a research report on Sunday, November 16th. Barclays decreased their target price on shares of Equitable from $58.00 to $57.00 and set an “overweight” rating on the stock in a report on Wednesday. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Equitable in a research report on Monday, December 29th. BMO Capital Markets reiterated an “outperform” rating on shares of Equitable in a report on Wednesday, December 17th. Finally, The Goldman Sachs Group set a $60.00 target price on Equitable in a research report on Monday, January 5th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $62.23.

Insider Buying and Selling at Equitable

In other news, COO Jeffrey J. Hurd sold 6,790 shares of the company’s stock in a transaction on Thursday, January 15th. The stock was sold at an average price of $47.65, for a total transaction of $323,543.50. Following the sale, the chief operating officer owned 55,023 shares of the company’s stock, valued at approximately $2,621,845.95. This represents a 10.98% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Nick Lane sold 30,000 shares of the stock in a transaction dated Thursday, January 15th. The shares were sold at an average price of $47.65, for a total value of $1,429,500.00. Following the completion of the sale, the insider directly owned 99,958 shares in the company, valued at $4,762,998.70. This represents a 23.08% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 203,770 shares of company stock worth $9,462,206. 1.10% of the stock is currently owned by insiders.

About Equitable

Equitable Holdings, Inc (NYSE: EQH) is a leading provider of life insurance, annuities and retirement plan services in the United States. Through its insurance subsidiary, AXA Equitable Life Insurance Company, the firm offers a broad range of permanent and term life insurance products designed to help individuals and families manage risk and build wealth. In addition, Equitable provides fixed, variable and indexed annuity solutions to support income planning in retirement, as well as a suite of group retirement and pension plan services for employers and plan sponsors.

The company also maintains an asset management arm that delivers investment strategies across equities, fixed income and alternative asset classes for both retail and institutional clients.