Allspring Global Investments Holdings LLC Grows Stock Position in Equitable Holdings, Inc. (NYSE:EQH)

Allspring Global Investments Holdings LLC grew its position in shares of Equitable Holdings, Inc. (NYSE:EQH) by 446.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 37,422 shares of the company’s stock after buying an additional 30,570 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Equitable were worth $1,783,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in EQH. Creative Planning grew its stake in Equitable by 3.6% in the 3rd quarter. Creative Planning now owns 13,541 shares of the company’s stock valued at $569,000 after buying an additional 476 shares in the last quarter. Raymond James & Associates boosted its holdings in shares of Equitable by 46.2% in the third quarter. Raymond James & Associates now owns 359,998 shares of the company’s stock worth $15,131,000 after acquiring an additional 113,783 shares during the period. Louisiana State Employees Retirement System grew its position in shares of Equitable by 2.4% in the third quarter. Louisiana State Employees Retirement System now owns 88,600 shares of the company’s stock valued at $3,724,000 after purchasing an additional 2,100 shares in the last quarter. Forsta AP Fonden raised its stake in shares of Equitable by 28.5% during the 3rd quarter. Forsta AP Fonden now owns 63,500 shares of the company’s stock valued at $2,669,000 after purchasing an additional 14,100 shares during the period. Finally, Wealth Enhancement Advisory Services LLC lifted its holdings in Equitable by 18.5% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 7,506 shares of the company’s stock worth $315,000 after purchasing an additional 1,170 shares in the last quarter. Institutional investors own 92.70% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have weighed in on EQH shares. BMO Capital Markets assumed coverage on Equitable in a report on Thursday, January 23rd. They set an “outperform” rating and a $70.00 target price for the company. JPMorgan Chase & Co. upped their target price on shares of Equitable from $45.00 to $53.00 and gave the stock a “neutral” rating in a report on Tuesday, January 7th. Keefe, Bruyette & Woods lifted their price objective on Equitable from $58.00 to $62.00 and gave the company an “outperform” rating in a research note on Wednesday, February 12th. Barclays increased their price target on shares of Equitable from $60.00 to $61.00 and gave the stock an “overweight” rating in a report on Monday, January 6th. Finally, Truist Financial upped their target price on Equitable from $52.00 to $60.00 and gave the stock a “buy” rating in a research note on Monday, February 10th. Two equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $56.58.

Equitable Price Performance

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

Equitable (NYSE:EQH) last posted its earnings results on Wednesday, February 5th. The company reported $1.57 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.65 by ($0.08). Equitable had a return on equity of 85.70% and a net margin of 10.51%. As a group, equities analysts predict that Equitable Holdings, Inc. will post 7.33 earnings per share for the current year.

Equitable Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 12th. Shareholders of record on Wednesday, March 5th will be given a dividend of $0.24 per share. 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 payout ratio is currently 25.13%.

Insiders Place Their Bets

In other Equitable news, CAO William James Iv Eckert sold 1,700 shares of the company’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 owns 17,677 shares in the company, valued at approximately $825,162.36. This represents a 8.77 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Nick Lane sold 25,000 shares of the firm’s stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $45.84, for a total value of $1,146,000.00. Following the completion of the transaction, the insider now owns 141,629 shares of the company’s stock, valued at approximately $6,492,273.36. The trade was a 15.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 131,698 shares of company stock worth $6,534,234. 1.10% of the stock is currently owned by corporate insiders.

About Equitable

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.