Xponance Inc. boosted its holdings in Equitable Holdings, Inc. (NYSE:EQH – Free Report) by 289.4% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 51,080 shares of the company’s stock after buying an additional 37,963 shares during the period. Xponance Inc.’s holdings in Equitable were worth $1,387,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in shares of Equitable during the 4th quarter worth $553,559,000. First Trust Advisors LP increased its stake in Equitable by 1,734.1% during the first quarter. First Trust Advisors LP now owns 6,952,944 shares of the company’s stock worth $176,535,000 after acquiring an additional 6,573,857 shares during the last quarter. Goldman Sachs Group Inc. raised its holdings in shares of Equitable by 94.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 3,723,505 shares of the company’s stock worth $115,094,000 after purchasing an additional 1,811,795 shares during the period. Envestnet Asset Management Inc. lifted its stake in shares of Equitable by 345.8% in the 1st quarter. Envestnet Asset Management Inc. now owns 1,691,685 shares of the company’s stock valued at $8,223,000 after purchasing an additional 1,312,193 shares in the last quarter. Finally, Balyasny Asset Management L.P. purchased a new stake in shares of Equitable during the 1st quarter worth about $32,141,000. Hedge funds and other institutional investors own 92.70% of the company’s stock.
Equitable Trading Up 0.4 %
Shares of EQH stock opened at $27.62 on Thursday. Equitable Holdings, Inc. has a twelve month low of $21.89 and a twelve month high of $33.24. The company has a market capitalization of $9.59 billion, a PE ratio of 27.90 and a beta of 1.40. The firm has a fifty day simple moving average of $28.40 and a 200-day simple moving average of $26.51.
Equitable Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 14th. Shareholders of record on Monday, August 7th were issued a dividend of $0.22 per share. The ex-dividend date was Friday, August 4th. This represents a $0.88 annualized dividend and a yield of 3.19%. Equitable’s dividend payout ratio is presently 88.89%.
Analysts Set New Price Targets
A number of research analysts have weighed in on the stock. Barclays lifted their price target on shares of Equitable from $31.00 to $33.00 and gave the company an “overweight” rating in a research report on Monday, August 7th. Jefferies Financial Group upped their price target on shares of Equitable from $29.00 to $32.00 and gave the stock a “hold” rating in a research report on Thursday, September 14th. Finally, Wells Fargo & Company increased their price target on Equitable from $38.00 to $41.00 and gave the company an “overweight” rating in a report on Tuesday, August 15th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $35.86.
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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