MBB Public Markets I LLC Acquires Shares of 23,600 Equitable Holdings, Inc. (NYSE:EQH)

MBB Public Markets I LLC bought a new position in Equitable Holdings, Inc. (NYSE:EQH) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 23,600 shares of the company’s stock, valued at approximately $964,000.

Several other hedge funds and other institutional investors have also modified their holdings of EQH. Advisory Services Network LLC bought a new position in shares of Equitable during the fourth quarter valued at $349,000. TD Asset Management Inc boosted its position in Equitable by 31.1% in the fourth quarter. TD Asset Management Inc now owns 36,446 shares of the company’s stock valued at $1,214,000 after buying an additional 8,642 shares in the last quarter. KBC Group NV boosted its position in Equitable by 449.4% in the fourth quarter. KBC Group NV now owns 65,170 shares of the company’s stock valued at $2,170,000 after buying an additional 53,309 shares in the last quarter. The Manufacturers Life Insurance Company increased its holdings in shares of Equitable by 47.4% during the fourth quarter. The Manufacturers Life Insurance Company now owns 873,992 shares of the company’s stock worth $29,104,000 after buying an additional 280,975 shares in the last quarter. Finally, First Trust Advisors LP increased its holdings in shares of Equitable by 0.3% during the fourth quarter. First Trust Advisors LP now owns 6,232,821 shares of the company’s stock worth $207,553,000 after buying an additional 18,475 shares in the last quarter. Institutional investors own 92.70% of the company’s stock.

Equitable Trading Up 0.1 %

EQH opened at $42.03 on Tuesday. The firm has a 50 day simple moving average of $40.86 and a 200 day simple moving average of $39.89. Equitable Holdings, Inc. has a fifty-two week low of $24.65 and a fifty-two week high of $44.50. The company has a market cap of $13.67 billion, a price-to-earnings ratio of 13.01 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.

Equitable (NYSE:EQH) last issued its earnings results on Tuesday, July 30th. The company reported $1.43 EPS for the quarter, beating the consensus estimate of $1.40 by $0.03. Equitable had a net margin of 7.87% and a return on equity of 87.49%. 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 company posted $1.17 EPS. The business’s revenue for the quarter was up 47.7% compared to the same quarter last year. On average, sell-side analysts anticipate that Equitable Holdings, Inc. will post 6.01 earnings per share for the current year.

Equitable Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, August 13th. Stockholders of record on Tuesday, August 6th were given a dividend of $0.24 per share. The ex-dividend date was Tuesday, August 6th. This represents a $0.96 annualized dividend and a dividend yield of 2.28%. Equitable’s payout ratio is currently 29.72%.

Insider Activity

In related news, COO Jeffrey J. Hurd sold 9,969 shares of the business’s stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $43.09, for a total transaction of $429,564.21. Following the completion of the transaction, the chief operating officer now owns 111,552 shares in the company, valued at $4,806,775.68. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Equitable news, COO Jeffrey J. Hurd sold 9,969 shares of Equitable stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $43.09, for a total transaction of $429,564.21. Following the transaction, the chief operating officer now directly owns 111,552 shares in the company, valued at $4,806,775.68. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CAO William James Iv Eckert sold 3,500 shares of the stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $42.42, for a total value of $148,470.00. Following the completion of the sale, the chief accounting officer now owns 19,321 shares of the company’s stock, valued at $819,596.82. The disclosure for this sale can be found here. Insiders sold a total of 73,469 shares of company stock valued at $3,067,434 in the last ninety days. 1.10% of the stock is owned by insiders.

Analyst Ratings Changes

EQH has been the topic of a number of research analyst reports. Morgan Stanley decreased their price target on Equitable from $48.00 to $46.00 and set an “overweight” rating on the stock in a research report on Monday, August 19th. Truist Financial increased their target price on Equitable from $44.00 to $52.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Citigroup lifted their price target on Equitable from $41.00 to $53.00 and gave the company a “buy” rating in a report on Tuesday, July 23rd. UBS Group lowered shares of Equitable from a “buy” rating to a “neutral” rating and increased their price objective for the stock from $40.00 to $43.00 in a report on Tuesday, June 18th. Finally, Keefe, Bruyette & Woods upped their target price on shares of Equitable from $43.00 to $44.00 and gave the stock a “market perform” rating in a research report on Monday, July 8th. Four investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $46.64.

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.