Forsta AP Fonden purchased a new stake in shares of Equitable Holdings, Inc. (NYSE:EQH – Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 196,100 shares of the company’s stock, valued at approximately $4,979,000. Forsta AP Fonden owned about 0.05% of Equitable as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in EQH. EverSource Wealth Advisors LLC raised its stake in shares of Equitable by 21.0% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,921 shares of the company’s stock valued at $55,000 after acquiring an additional 333 shares during the last quarter. Belpointe Asset Management LLC acquired a new stake in Equitable during the 4th quarter valued at $67,000. CWM LLC raised its position in Equitable by 70.9% in the 4th quarter. CWM LLC now owns 2,565 shares of the company’s stock valued at $74,000 after purchasing an additional 1,064 shares during the last quarter. Romano Brothers AND Company acquired a new position in Equitable in the fourth quarter worth $79,000. Finally, American International Group Inc. grew its holdings in shares of Equitable by 9.3% during the second quarter. American International Group Inc. now owns 4,007 shares of the company’s stock worth $104,000 after purchasing an additional 342 shares during the last quarter. 93.19% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
A number of research analysts recently issued reports on the company. Barclays lifted their price target on Equitable from $30.00 to $31.00 in a report on Friday, May 12th. Royal Bank of Canada dropped their target price on shares of Equitable from $33.00 to $28.00 and set a “sector perform” rating for the company in a research note on Monday, April 10th. 92 Resources reissued a “maintains” rating on shares of Equitable in a research note on Friday, May 5th. Morgan Stanley dropped 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, Wells Fargo & Company decreased their price objective on Equitable from $37.00 to $33.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 5th. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, Equitable presently has a consensus rating of “Moderate Buy” and a consensus target price of $34.63.
Equitable Price Performance
Equitable (NYSE:EQH – Free Report) last posted its quarterly earnings results on Wednesday, May 3rd. The company reported $0.96 earnings per share for the quarter, missing analysts’ consensus estimates of $1.24 by ($0.28). The firm had revenue of $3.27 billion during the quarter, compared to the consensus estimate of $3.28 billion. Sell-side analysts expect that Equitable Holdings, Inc. will post 5.14 EPS for the current fiscal year.
Equitable Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Monday, June 12th. Investors of record on Monday, June 5th were given a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 3.23%. This is an increase from Equitable’s previous quarterly dividend of $0.20. The ex-dividend date was Friday, June 2nd. Equitable’s dividend payout ratio (DPR) is currently 25.88%.
Equitable Profile
Equitable Holdings, Inc, together with its consolidated subsidiaries, operates as a diversified financial services company worldwide. The company operates through four segments: Individual Retirement, Group Retirement, Investment Management and Research, and Protection Solutions. The Individual Retirement segment offers a suite of variable annuity products primarily to affluent and high net worth individuals.
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