Maryland State Retirement & Pension System decreased its holdings in Equitable Holdings, Inc. (NYSE:EQH – Free Report) by 7.4% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 27,283 shares of the company’s stock after selling 2,190 shares during the period. Maryland State Retirement & Pension System’s holdings in Equitable were worth $741,000 as of its most recent SEC filing.
Several other institutional investors also recently modified their holdings of the business. MV Capital Management Inc. bought a new position in Equitable during the 1st quarter valued at about $102,000. American International Group Inc. lifted 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 valued at $104,000 after purchasing an additional 342 shares during the period. Advisory Services Network LLC lifted its position in Equitable by 236.6% during the first quarter. Advisory Services Network LLC now owns 4,517 shares of the company’s stock valued at $115,000 after purchasing an additional 3,175 shares during the period. Captrust Financial Advisors boosted its holdings in Equitable by 30.1% in the first quarter. Captrust Financial Advisors now owns 5,856 shares of the company’s stock worth $181,000 after purchasing an additional 1,355 shares during the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main bought a new stake in Equitable in the 4th quarter worth approximately $183,000. 92.70% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
A number of research firms have recently issued reports on EQH. Barclays raised their price target on Equitable from $31.00 to $33.00 and gave the stock an “overweight” rating in a research note on Monday, August 7th. Wells Fargo & Company boosted their price target on Equitable from $38.00 to $41.00 and gave the company an “overweight” rating in a research note on Tuesday, August 15th. Finally, Jefferies Financial Group increased their price objective on shares of Equitable from $29.00 to $32.00 and gave the stock a “hold” rating in a research note on Thursday, September 14th. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $35.86.
Equitable Stock Up 0.7 %
Shares of EQH opened at $28.25 on Tuesday. The business has a 50-day simple moving average of $28.43 and a two-hundred day simple moving average of $26.50. Equitable Holdings, Inc. has a 52 week low of $21.89 and a 52 week high of $33.24. The stock has a market cap of $9.81 billion, a price-to-earnings ratio of 28.54 and a beta of 1.40.
Equitable (NYSE:EQH – Get Free Report) last released its earnings results on Wednesday, August 2nd. The company reported $1.17 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.17. The firm had revenue of $3.34 billion during the quarter, compared to analysts’ expectations of $3.39 billion. On average, equities analysts anticipate that Equitable Holdings, Inc. will post 4.94 earnings per share for the current fiscal year.
Equitable Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Monday, August 14th. Stockholders of record on Monday, August 7th were given a dividend of $0.22 per share. The ex-dividend date of this dividend was Friday, August 4th. This represents a $0.88 annualized dividend and a dividend yield of 3.12%. Equitable’s payout ratio is 88.89%.
About Equitable
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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