Raymond James Trust N.A. Purchases 1,293 Shares of Equitable Holdings, Inc. (NYSE:EQH)

Posted by Defense World Staff on Apr 25th, 2023

Raymond James Trust N.A. grew its stake in Equitable Holdings, Inc. (NYSE:EQH – Get Rating) by 11.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,824 shares of the company’s stock after acquiring an additional 1,293 shares during the period. Raymond James Trust N.A.’s holdings in Equitable were worth $368,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of EQH. Goldman Sachs Group Inc. lifted its stake in Equitable by 94.8% in the 1st 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. Royal Bank of Canada lifted its stake in Equitable by 192.0% in the 3rd quarter. Royal Bank of Canada now owns 1,734,267 shares of the company’s stock valued at $45,699,000 after purchasing an additional 1,140,288 shares during the last quarter. Vanguard Group Inc. lifted its stake in Equitable by 2.2% in the 1st quarter. Vanguard Group Inc. now owns 40,143,567 shares of the company’s stock valued at $1,240,838,000 after purchasing an additional 854,689 shares during the last quarter. Neuberger Berman Group LLC lifted its stake in Equitable by 24.3% in the 3rd quarter. Neuberger Berman Group LLC now owns 3,917,357 shares of the company’s stock valued at $103,222,000 after purchasing an additional 766,449 shares during the last quarter. Finally, Pzena Investment Management LLC lifted its stake in Equitable by 3.3% in the 3rd quarter. Pzena Investment Management LLC now owns 22,868,511 shares of the company’s stock valued at $602,585,000 after purchasing an additional 720,979 shares during the last quarter. Institutional investors own 93.17% of the company’s stock.

Insider Activity at Equitable

In related news, CAO William James Iv Eckert sold 8,100 shares of Equitable stock in a transaction that occurred on Wednesday, March 22nd. The shares were sold at an average price of $25.38, for a total value of $205,578.00. Following the transaction, the chief accounting officer now directly owns 27,062 shares of the company’s stock, valued at $686,833.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Kristi Ann Matus sold 19,297 shares of the company’s stock in a transaction dated Friday, March 24th. The shares were sold at an average price of $23.34, for a total transaction of $450,391.98. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CAO William James Iv Eckert sold 8,100 shares of the company’s stock in a transaction dated Wednesday, March 22nd. The shares were sold at an average price of $25.38, for a total transaction of $205,578.00. Following the transaction, the chief accounting officer now owns 27,062 shares in the company, valued at approximately $686,833.56. The disclosure for this sale can be found here. 0.98% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. Barclays cut their target price on shares of Equitable from $34.00 to $30.00 and set an “overweight” rating for the company in a research note on Thursday, April 6th. TheStreet downgraded shares of Equitable from a “b” rating to a “c+” rating in a research note on Wednesday, February 8th. Wells Fargo & Company cut their price objective on shares of Equitable from $37.00 to $33.00 and set an “overweight” rating for the company in a research report on Wednesday, April 5th. Morgan Stanley cut their price objective on shares of Equitable from $48.00 to $41.00 and set an “overweight” rating for the company in a research report on Wednesday, April 12th. Finally, Raymond James initiated coverage on shares of Equitable in a research report on Wednesday, February 8th. They set a “market perform” rating for the company. Three investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $35.22.

Equitable Trading Up 0.3 %

NYSE EQH opened at $25.89 on Tuesday. Equitable Holdings, Inc. has a 1-year low of $22.58 and a 1-year high of $33.24. The company has a 50 day moving average of $27.38 and a 200-day moving average of $29.13. The company has a market cap of $9.30 billion, a price-to-earnings ratio of 5.91 and a beta of 1.40.

Equitable (NYSE:EQH – Get Rating) last announced its quarterly earnings data on Wednesday, February 8th. The company reported $1.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.29 by ($0.18). The company had revenue of $1.90 billion for the quarter, compared to analyst estimates of $3.27 billion. Equitable’s revenue was down 48.3% compared to the same quarter last year. During the same quarter last year, the business earned $1.54 earnings per share. On average, equities research analysts forecast that Equitable Holdings, Inc. will post 5.5 earnings per share for the current year.

Equitable Announces Dividend

The company also recently disclosed 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 dividend on an annualized basis and a yield of 3.09%. Equitable’s dividend payout ratio (DPR) 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.