JPMorgan Chase & Co. Raises Holdings in Equitable Holdings, Inc. (NYSE:EQH)

JPMorgan Chase & Co. lifted its position in shares of Equitable Holdings, Inc. (NYSE:EQH) by 20.3% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 908,653 shares of the company’s stock after acquiring an additional 153,457 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.29% of Equitable worth $38,191,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Principal Financial Group Inc. lifted its position in shares of Equitable by 7.5% during the third quarter. Principal Financial Group Inc. now owns 2,117,568 shares of the company’s stock worth $89,001,000 after acquiring an additional 148,180 shares in the last quarter. Retirement Systems of Alabama raised its stake in shares of Equitable by 2.9% during the 3rd quarter. Retirement Systems of Alabama now owns 388,430 shares of the company’s stock valued at $16,326,000 after purchasing an additional 11,085 shares during the period. Unigestion Holding SA purchased a new stake in Equitable during the 3rd quarter worth about $847,000. Toronto Dominion Bank grew its holdings in Equitable by 27.1% during the 3rd quarter. Toronto Dominion Bank now owns 44,794 shares of the company’s stock valued at $1,883,000 after buying an additional 9,563 shares in the last quarter. Finally, Coldstream Capital Management Inc. bought a new stake in shares of Equitable during the third quarter valued at about $215,000. Hedge funds and other institutional investors own 92.70% of the company’s stock.

Equitable Trading Up 1.9 %

EQH stock opened at $48.55 on Monday. Equitable Holdings, Inc. has a one year low of $31.76 and a one year high of $50.51. The company has a market capitalization of $15.21 billion, a PE ratio of -44.54 and a beta of 1.39. The company’s 50 day moving average price is $47.16 and its two-hundred day moving average price is $43.59. The company has a debt-to-equity ratio of 1.63, a quick ratio of 0.12 and a current ratio of 0.12.

Equitable (NYSE:EQH) last issued its earnings results on Monday, November 4th. The company reported $1.53 EPS for the quarter, hitting analysts’ consensus estimates of $1.53. The company had revenue of $3.08 billion for the quarter, compared to analysts’ expectations of $3.78 billion. Equitable had a negative net margin of 2.64% and a positive return on equity of 76.47%. The firm’s revenue was down 15.1% compared to the same quarter last year. During the same quarter last year, the company earned $1.15 EPS. As a group, analysts predict that Equitable Holdings, Inc. will post 6.05 earnings per share for the current fiscal year.

Equitable Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 3rd. Shareholders of record on Tuesday, November 26th were given a $0.24 dividend. The ex-dividend date was Tuesday, November 26th. This represents a $0.96 annualized dividend and a yield of 1.98%. Equitable’s payout ratio is currently -88.07%.

Insiders Place Their Bets

In other news, CAO William James Iv Eckert sold 1,700 shares of the business’s stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $46.68, for a total transaction of $79,356.00. Following the transaction, the chief accounting officer now directly owns 17,677 shares of the company’s stock, valued at approximately $825,162.36. The trade was a 8.77 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Jeffrey J. Hurd sold 6,666 shares of the firm’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $47.53, for a total transaction of $316,834.98. Following the completion of the sale, the chief operating officer now directly owns 105,246 shares of the company’s stock, valued at approximately $5,002,342.38. This represents a 5.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 130,032 shares of company stock valued at $6,031,759 in the last quarter. Insiders own 1.10% of the company’s stock.

Analyst Ratings Changes

EQH has been the topic of several recent analyst reports. Barclays increased their target price on shares of Equitable from $59.00 to $60.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 8th. Keefe, Bruyette & Woods upgraded Equitable from a “market perform” rating to an “outperform” rating and lifted their price target for the company from $54.00 to $58.00 in a research report on Monday, December 9th. Finally, Wells Fargo & Company upped their price objective on shares of Equitable from $43.00 to $47.00 and gave the stock an “overweight” rating in a research report on Thursday, October 10th. Two equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $50.10.

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.