Raymond James Trust N.A. Has $298,000 Position in Equitable Holdings, Inc. (NYSE:EQH)

Posted by Defense World Staff on Aug 3rd, 2023

Raymond James Trust N.A. trimmed its position in Equitable Holdings, Inc. (NYSE:EQH – Free Report) by 8.5% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,737 shares of the company’s stock after selling 1,087 shares during the quarter. Raymond James Trust N.A.’s holdings in Equitable were worth $298,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of EQH. EverSource Wealth Advisors LLC grew its stake in Equitable by 21.0% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,921 shares of the company’s stock worth $55,000 after purchasing an additional 333 shares during the period. Belpointe Asset Management LLC purchased a new position in shares of Equitable in the fourth quarter valued at $67,000. CWM LLC grew its position in Equitable by 70.9% during the fourth quarter. CWM LLC now owns 2,565 shares of the company’s stock worth $74,000 after buying an additional 1,064 shares in the last quarter. MV Capital Management Inc. purchased a new position in Equitable during the first quarter worth about $102,000. Finally, American International Group Inc. grew its position in 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 buying an additional 342 shares in the last quarter. 93.19% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

EQH has been the subject of a number of recent research reports. Barclays boosted their target price on Equitable from $30.00 to $31.00 in a research note on Friday, May 12th. Royal Bank of Canada cut their target price on Equitable from $33.00 to $28.00 and set a “sector perform” rating on the stock in a research note on Monday, April 10th. Wells Fargo & Company lowered their target price on Equitable from $37.00 to $33.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 5th. Finally, Morgan Stanley lowered their price objective on Equitable from $48.00 to $41.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 12th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $34.71.

Read Our Latest Research Report on EQH

Equitable Trading Down 1.7 %

Shares of EQH opened at $28.46 on Thursday. The stock has a fifty day moving average price of $27.00 and a 200-day moving average price of $27.38. Equitable Holdings, Inc. has a 12 month low of $21.89 and a 12 month high of $33.24. The firm has a market cap of $10.13 billion, a PE ratio of 8.37 and a beta of 1.41.

Equitable (NYSE:EQH – Get Free Report) last released its earnings results on Wednesday, May 3rd. The company reported $0.96 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.24 by ($0.28). The company had revenue of $3.27 billion during the quarter, compared to analysts’ expectations of $3.28 billion. As a group, research analysts forecast that Equitable Holdings, Inc. will post 4.94 EPS for the current year.

Equitable Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, August 14th. Investors of record on Monday, August 7th will be given a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 3.09%. The ex-dividend date of this dividend is Friday, August 4th. Equitable’s payout ratio is 25.88%.

Equitable Company Profile

(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.