Amalgamated Bank Sells 33,506 Shares of Equitable Holdings, Inc. (NYSE:EQH)

Amalgamated Bank reduced its holdings in shares of Equitable Holdings, Inc. (NYSE:EQH) by 15.9% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 177,208 shares of the company’s stock after selling 33,506 shares during the quarter. Amalgamated Bank owned approximately 0.05% of Equitable worth $7,241,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Vanguard Group Inc. boosted its stake in shares of Equitable by 1.2% during the 4th quarter. Vanguard Group Inc. now owns 38,012,452 shares of the company’s stock worth $1,265,815,000 after acquiring an additional 446,752 shares during the period. Canada Pension Plan Investment Board boosted its stake in shares of Equitable by 3.5% during the 1st quarter. Canada Pension Plan Investment Board now owns 18,804,685 shares of the company’s stock worth $714,766,000 after acquiring an additional 637,916 shares during the period. Hsbc Holdings PLC boosted its stake in Equitable by 1,161.7% in the 4th quarter. Hsbc Holdings PLC now owns 7,849,706 shares of the company’s stock valued at $262,692,000 after purchasing an additional 7,227,568 shares during the period. First Trust Advisors LP boosted its stake in Equitable by 0.3% in the 4th quarter. First Trust Advisors LP now owns 6,232,821 shares of the company’s stock valued at $207,553,000 after purchasing an additional 18,475 shares during the period. Finally, Dimensional Fund Advisors LP boosted its stake in Equitable by 15.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 4,083,650 shares of the company’s stock valued at $166,855,000 after purchasing an additional 539,904 shares during the period. 92.70% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

EQH has been the subject of several recent research reports. Barclays initiated coverage on Equitable in a research note on Wednesday, September 4th. They issued an “overweight” rating and a $59.00 price target for the company. Morgan Stanley reduced their price target on Equitable from $48.00 to $46.00 and set an “overweight” rating for the company in a research note on Monday, August 19th. Wells Fargo & Company reduced their price target on Equitable from $45.00 to $43.00 and set an “overweight” rating for the company in a research note on Monday, August 12th. Citigroup boosted their price target on Equitable from $41.00 to $53.00 and gave the company a “buy” rating in a research note on Tuesday, July 23rd. Finally, Truist Financial boosted their price target on Equitable from $44.00 to $52.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Four research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $46.64.

Insider Transactions at Equitable

In other news, CEO Mark Pearson sold 30,000 shares of the business’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $40.78, for a total transaction of $1,223,400.00. Following the completion of the transaction, the chief executive officer now owns 668,555 shares of the company’s stock, valued at approximately $27,263,672.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, COO Jeffrey J. Hurd sold 9,969 shares of the business’s stock in a transaction on Monday, July 15th. The stock was sold at an average price of $43.09, for a total transaction of $429,564.21. Following the sale, the chief operating officer now owns 111,552 shares in the company, valued at approximately $4,806,775.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Mark Pearson sold 30,000 shares of the business’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $40.78, for a total value of $1,223,400.00. Following the sale, the chief executive officer now owns 668,555 shares in the company, valued at approximately $27,263,672.90. The disclosure for this sale can be found here. In the last quarter, insiders sold 69,969 shares of company stock valued at $2,918,964. Corporate insiders own 1.10% of the company’s stock.

Equitable Price Performance

Shares of NYSE EQH opened at $42.47 on Friday. The stock has a market capitalization of $13.81 billion, a PE ratio of 13.15 and a beta of 1.42. The company has a debt-to-equity ratio of 3.06, a current ratio of 0.12 and a quick ratio of 0.12. The business has a fifty day moving average price of $40.89 and a two-hundred day moving average price of $39.39. Equitable Holdings, Inc. has a fifty-two week low of $24.65 and a fifty-two week high of $44.50.

Equitable (NYSE:EQH) last posted its quarterly earnings results on Tuesday, July 30th. The company reported $1.43 EPS for the quarter, topping analysts’ consensus estimates of $1.40 by $0.03. Equitable had a return on equity of 87.49% and a net margin of 7.87%. The company had revenue of $3.51 billion during the quarter, compared to analysts’ expectations of $3.71 billion. During the same quarter in the previous year, the firm earned $1.17 EPS. Equitable’s revenue was up 47.7% on a year-over-year basis. As a group, equities analysts predict that Equitable Holdings, Inc. will post 6.01 earnings per share for the current fiscal year.

Equitable Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 13th. Stockholders of record on Tuesday, August 6th were issued a dividend of $0.24 per share. The ex-dividend date of this dividend was Tuesday, August 6th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.26%. Equitable’s dividend payout ratio (DPR) is currently 29.72%.

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.