Hsbc Holdings PLC decreased its stake in shares of Equitable Holdings, Inc. (NYSE:EQH – Get Rating) by 26.0% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 154,487 shares of the company’s stock after selling 54,209 shares during the quarter. Hsbc Holdings PLC’s holdings in Equitable were worth $4,111,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Price T Rowe Associates Inc. MD lifted its position in Equitable by 20.1% during the second quarter. Price T Rowe Associates Inc. MD now owns 34,650,300 shares of the company’s stock valued at $903,333,000 after purchasing an additional 5,799,164 shares during the last quarter. Goldman Sachs Group Inc. lifted its position in Equitable by 94.8% during the first quarter. Goldman Sachs Group Inc. now owns 3,723,505 shares of the company’s stock valued at $115,094,000 after purchasing an additional 1,811,795 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its position in Equitable by 17.8% during the second quarter. Massachusetts Financial Services Co. MA now owns 8,794,991 shares of the company’s stock valued at $229,287,000 after purchasing an additional 1,328,225 shares during the last quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH lifted its position in Equitable by 1,898.0% during the third quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 1,155,415 shares of the company’s stock valued at $30,445,000 after purchasing an additional 1,097,586 shares during the last quarter. Finally, Point72 Asset Management L.P. lifted its position in Equitable by 224.5% during the second quarter. Point72 Asset Management L.P. now owns 1,236,161 shares of the company’s stock valued at $32,227,000 after purchasing an additional 855,225 shares during the last quarter. Institutional investors own 93.17% of the company’s stock.
Analysts Set New Price Targets
EQH has been the subject of several research reports. Citigroup increased their price objective on shares of Equitable from $37.00 to $38.00 in a research report on Wednesday, November 16th. Morgan Stanley increased their price objective on shares of Equitable from $44.00 to $48.00 and gave the company an “overweight” rating in a research report on Tuesday, January 10th. Royal Bank of Canada downgraded shares of Equitable from an “outperform” rating to a “sector perform” rating and reduced their target price for the company from $34.00 to $33.00 in a research note on Tuesday, December 6th. Wells Fargo & Company increased their target price on shares of Equitable from $36.00 to $37.00 and gave the company an “overweight” rating in a research note on Monday, February 13th. Finally, Jefferies Financial Group downgraded shares of Equitable from a “buy” rating to a “hold” rating and reduced their target price for the company from $36.00 to $34.00 in a research note on Friday, December 9th. Three analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $37.67.
Equitable Price Performance
Equitable (NYSE:EQH – Get Rating) last issued its earnings results on Wednesday, February 8th. The company reported $1.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.29 by ($0.18). The business had revenue of $1.90 billion for the quarter, compared to the consensus estimate of $3.27 billion. During the same quarter last year, the firm posted $1.54 EPS. Equitable’s quarterly revenue was down 48.3% compared to the same quarter last year. Sell-side analysts forecast that Equitable Holdings, Inc. will post 5.68 EPS for the current fiscal year.
Equitable Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Monday, March 6th. Stockholders of record on Monday, February 27th will be issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.55%. The ex-dividend date of this dividend is Friday, February 24th. Equitable’s dividend payout ratio is currently 18.26%.
Equitable Profile
Equitable Holdings, Inc engages in the provision of financial services. It operates through the following segment: Individual Retirement, Group Retirement, Investment Management and Research, and Protection Solutions. The Individual Retirement segment includes annuity products, which primarily meet the needs of individuals saving for retirement or seeking retirement income.
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