UBS Asset Management Americas Inc. Acquires 120,184 Shares of Equitable Holdings, Inc. (NYSE:EQH)

Posted by Defense World Staff on Mar 14th, 2023

UBS Asset Management Americas Inc. increased its position in Equitable Holdings, Inc. (NYSE:EQH – Get Rating) by 9.8% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,345,182 shares of the company’s stock after buying an additional 120,184 shares during the quarter. UBS Asset Management Americas Inc. owned 0.36% of Equitable worth $35,446,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of EQH. CWM LLC lifted its position in Equitable by 29.6% in the 3rd quarter. CWM LLC now owns 1,501 shares of the company’s stock worth $40,000 after buying an additional 343 shares during the last quarter. EverSource Wealth Advisors LLC lifted its position in Equitable by 80.9% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 1,588 shares of the company’s stock worth $43,000 after buying an additional 710 shares during the last quarter. Fifth Third Bancorp lifted its position in Equitable by 91.3% in the 3rd quarter. Fifth Third Bancorp now owns 3,334 shares of the company’s stock worth $88,000 after buying an additional 1,591 shares during the last quarter. American International Group Inc. lifted its position in Equitable by 9.3% in the 2nd quarter. American International Group Inc. now owns 4,007 shares of the company’s stock worth $104,000 after buying an additional 342 shares during the last quarter. Finally, Asahi Life Asset Management CO. LTD. bought a new stake in Equitable in the 3rd quarter worth approximately $150,000. Institutional investors own 93.17% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on EQH. Jefferies Financial Group cut Equitable from a “buy” rating to a “hold” rating and decreased their price target for the stock from $36.00 to $34.00 in a research note on Friday, December 9th. Raymond James began coverage on Equitable in a research note on Wednesday, February 8th. They issued a “market perform” rating on the stock. Wells Fargo & Company lifted their price target on Equitable from $36.00 to $37.00 and gave the stock an “overweight” rating in a research note on Monday, February 13th. Morgan Stanley lifted their price target on Equitable from $44.00 to $48.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 10th. Finally, Royal Bank of Canada cut Equitable from an “outperform” rating to a “sector perform” rating and decreased their price target for the stock from $34.00 to $33.00 in a research note on Tuesday, December 6th. Three investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $37.67.

Equitable Stock Performance

EQH opened at $25.08 on Tuesday. Equitable Holdings, Inc. has a 52-week low of $24.61 and a 52-week high of $33.24. The stock has a market capitalization of $9.07 billion, a PE ratio of 5.73 and a beta of 1.44. The stock’s 50 day moving average price is $31.09 and its 200-day moving average price is $30.03.

Equitable (NYSE:EQH – Get Rating) last issued its quarterly earnings results on Wednesday, February 8th. The company reported $1.11 earnings per share for the quarter, missing the consensus estimate of $1.29 by ($0.18). The company had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $3.27 billion. The firm’s revenue for the quarter was down 48.3% compared to the same quarter last year. During the same quarter last year, the firm posted $1.54 earnings per share. Research 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 was paid on Monday, March 6th. Investors of record on Monday, February 27th were paid a $0.20 dividend. The ex-dividend date of this dividend was Friday, February 24th. This represents a $0.80 annualized dividend and a yield of 3.19%. Equitable’s payout ratio is 18.26%.

About Equitable

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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.