Citigroup Inc. Acquires 33,995 Shares of Equitable Holdings, Inc. (NYSE:EQH)

Posted by Defense World Staff on Sep 1st, 2023

Citigroup Inc. lifted its holdings in shares of Equitable Holdings, Inc. (NYSE:EQH – Free Report) by 13.7% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 281,709 shares of the company’s stock after acquiring an additional 33,995 shares during the quarter. Citigroup Inc. owned approximately 0.08% of Equitable worth $7,153,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in EQH. EverSource Wealth Advisors LLC boosted its position 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 acquired a new position in Equitable in the 4th quarter valued at about $67,000. MV Capital Management Inc. acquired a new position in Equitable in the 1st quarter valued at about $102,000. American International Group Inc. raised its holdings in Equitable by 9.3% in the 2nd quarter. American International Group Inc. now owns 4,007 shares of the company’s stock valued at $104,000 after acquiring an additional 342 shares during the period. Finally, Captrust Financial Advisors boosted its holdings in shares of Equitable by 30.1% during the first quarter. Captrust Financial Advisors now owns 5,856 shares of the company’s stock worth $181,000 after acquiring an additional 1,355 shares during the period. 92.70% of the stock is owned by institutional investors and hedge funds.

Equitable Stock Performance

Shares of NYSE EQH opened at $28.80 on Friday. The stock has a market capitalization of $10.00 billion, a P/E ratio of 29.09 and a beta of 1.41. The stock’s fifty day moving average is $27.83 and its 200 day moving average is $26.92. Equitable Holdings, Inc. has a 52 week low of $21.89 and a 52 week high of $33.24.

Equitable (NYSE:EQH – Get Free Report) last released its earnings results on Wednesday, August 2nd. The company reported $1.17 EPS for the quarter, meeting the consensus estimate of $1.17. The firm had revenue of $3.34 billion during the quarter, compared to the consensus estimate of $3.39 billion. Equities research analysts forecast that Equitable Holdings, Inc. will post 4.94 earnings per share for the current year.

Equitable Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, August 14th. Shareholders of record on Monday, August 7th were paid a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 3.06%. The ex-dividend date of this dividend was Friday, August 4th. Equitable’s payout ratio is presently 88.89%.

Wall Street Analysts Forecast Growth

EQH has been the subject of several research reports. Barclays lifted their price target on Equitable from $31.00 to $33.00 and gave the stock an “overweight” rating in a report on Monday, August 7th. Wells Fargo & Company lifted their target price on Equitable from $38.00 to $41.00 and gave the stock an “overweight” rating in a report on Tuesday, August 15th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $36.14.

Get Our Latest Stock Analysis on EQH

Equitable 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.