CIBC Asset Management Inc Raises Stake in Equitable Holdings, Inc. (NYSE:EQH)

CIBC Asset Management Inc raised its stake in Equitable Holdings, Inc. (NYSE:EQH) by 13.0% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 13,299 shares of the company’s stock after buying an additional 1,534 shares during the quarter. CIBC Asset Management Inc’s holdings in Equitable were worth $627,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the stock. Principal Financial Group Inc. grew its holdings in Equitable by 20.7% in the 4th quarter. Principal Financial Group Inc. now owns 2,554,890 shares of the company’s stock valued at $120,529,000 after buying an additional 437,322 shares in the last quarter. Principal Securities Inc. grew its holdings in Equitable by 82.7% in the 4th quarter. Principal Securities Inc. now owns 1,805 shares of the company’s stock valued at $85,000 after buying an additional 817 shares in the last quarter. AustralianSuper Pty Ltd grew its holdings in Equitable by 126.1% in the 4th quarter. AustralianSuper Pty Ltd now owns 378,953 shares of the company’s stock valued at $17,875,000 after buying an additional 211,332 shares in the last quarter. New York State Teachers Retirement System grew its holdings in Equitable by 1.5% in the 4th quarter. New York State Teachers Retirement System now owns 144,986 shares of the company’s stock valued at $6,839,000 after buying an additional 2,205 shares in the last quarter. Finally, Vontobel Holding Ltd. purchased a new stake in Equitable in the 4th quarter valued at $499,000. 92.70% of the stock is currently owned by hedge funds and other institutional investors.

Equitable Price Performance

EQH opened at $51.44 on Friday. The stock’s 50-day moving average price is $50.91 and its 200 day moving average price is $46.31. Equitable Holdings, Inc. has a 12-month low of $32.96 and a 12-month high of $56.00. The company has a current ratio of 0.07, a quick ratio of 0.12 and a debt-to-equity ratio of 3.07. The firm has a market cap of $16.12 billion, a price-to-earnings ratio of 13.46 and a beta of 1.39.

Equitable (NYSE:EQH) last posted its quarterly earnings results on Wednesday, February 5th. The company reported $1.57 earnings per share (EPS) 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%. As a group, sell-side analysts expect that Equitable Holdings, Inc. will post 7.33 earnings per share for the current year.

Equitable Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 12th. Shareholders of record on Wednesday, March 5th will be given a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 1.87%. The ex-dividend date of this dividend is Wednesday, March 5th. Equitable’s dividend payout ratio is currently 25.13%.

Insider Buying and Selling at Equitable

In other news, CAO William James Iv Eckert sold 1,700 shares of the firm’s stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $46.68, for a total transaction of $79,356.00. Following the sale, the chief accounting officer now owns 17,677 shares of the company’s stock, valued at approximately $825,162.36. This trade represents a 8.77 % 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, COO Jeffrey J. Hurd sold 6,666 shares of the firm’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $55.38, for a total value of $369,163.08. Following the sale, the chief operating officer now directly owns 104,298 shares in the company, valued at $5,776,023.24. This trade represents a 6.01 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 131,698 shares of company stock valued at $6,534,234 in the last quarter. Corporate insiders own 1.10% of the company’s stock.

Analysts Set New Price Targets

EQH has been the subject of a number of research analyst reports. Wells Fargo & Company increased their price target on Equitable from $53.00 to $61.00 and gave the stock an “overweight” rating in a report on Wednesday. Morgan Stanley increased their price target on Equitable from $60.00 to $61.00 and gave the stock an “overweight” rating in a report on Friday, February 14th. Truist Financial increased their price target on Equitable from $52.00 to $60.00 and gave the stock a “buy” rating in a report on Monday, February 10th. Deutsche Bank Aktiengesellschaft upgraded Equitable from a “hold” rating to a “buy” rating and increased their price target for the stock from $47.00 to $58.00 in a report on Friday, January 10th. Finally, BMO Capital Markets initiated coverage on Equitable in a report on Thursday, January 23rd. They set an “outperform” rating and a $70.00 price target for the company. Two research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, Equitable presently has a consensus rating of “Moderate Buy” and a consensus target price of $56.58.

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.