Daiwa Securities Group Inc. Boosts Holdings in Equitable Holdings, Inc. (NYSE:EQH)

Posted by Defense World Staff on Jul 30th, 2023

Daiwa Securities Group Inc. boosted its position in shares of Equitable Holdings, Inc. (NYSE:EQH – Free Report) by 5.0% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 21,093 shares of the company’s stock after purchasing an additional 1,000 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Equitable were worth $536,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of EQH. Vanguard Group Inc. increased its position in shares of Equitable by 2.2% during the first quarter. Vanguard Group Inc. now owns 40,143,567 shares of the company’s stock valued at $1,240,838,000 after acquiring an additional 854,689 shares in the last quarter. Norges Bank bought a new stake in shares of Equitable in the 4th quarter worth $553,559,000. State Street Corp raised its stake in shares of Equitable by 3.5% in the third quarter. State Street Corp now owns 9,781,389 shares of the company’s stock worth $257,740,000 after purchasing an additional 330,125 shares during the last quarter. Thrivent Financial for Lutherans boosted its position in shares of Equitable by 7.9% during the fourth quarter. Thrivent Financial for Lutherans now owns 6,275,967 shares of the company’s stock valued at $180,120,000 after buying an additional 458,522 shares during the last quarter. Finally, CI Investments Inc. increased its holdings in Equitable by 14.6% in the 4th quarter. CI Investments Inc. now owns 5,728,603 shares of the company’s stock worth $164,410,000 after buying an additional 728,209 shares in the last quarter. 93.19% of the stock is currently owned by institutional investors.

Equitable Price Performance

Shares of EQH stock opened at $28.66 on Friday. The company has a market cap of $10.21 billion, a price-to-earnings ratio of 8.43 and a beta of 1.41. Equitable Holdings, Inc. has a 1 year low of $21.89 and a 1 year high of $33.24. The firm has a fifty day moving average price of $26.78 and a 200-day moving average price of $27.42.

Equitable (NYSE:EQH – Get Free Report) last issued its quarterly earnings results on Wednesday, May 3rd. The company reported $0.96 EPS for the quarter, missing analysts’ consensus estimates of $1.24 by ($0.28). The business had revenue of $3.27 billion during the quarter, compared to analyst estimates of $3.28 billion. Equities research analysts expect that Equitable Holdings, Inc. will post 4.99 EPS for the current year.

Equitable Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 12th. Shareholders of record on Monday, June 5th were issued a dividend of $0.22 per share. The ex-dividend date of this dividend was Friday, June 2nd. This represents a $0.88 annualized dividend and a yield of 3.07%. This is an increase from Equitable’s previous quarterly dividend of $0.20. Equitable’s payout ratio is currently 25.88%.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on EQH shares. Morgan Stanley lowered their target price on shares of Equitable from $48.00 to $41.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 12th. Wells Fargo & Company cut their target price 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. Royal Bank of Canada lowered their price target on Equitable from $33.00 to $28.00 and set a “sector perform” rating on the stock in a report on Monday, April 10th. Finally, Barclays lifted their price objective on Equitable from $30.00 to $31.00 in a report on Friday, May 12th. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, Equitable presently has an average rating of “Moderate Buy” and a consensus price target of $34.71.

About Equitable

(Free Report)

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.