Raymond James & Associates decreased its position in Equitable Holdings, Inc. (NYSE:EQH – Free Report) by 42.6% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 156,842 shares of the company’s stock after selling 116,528 shares during the quarter. Raymond James & Associates’ holdings in Equitable were worth $4,260,000 as of its most recent SEC filing.
A number of other large investors also recently added to or reduced their stakes in EQH. AdvisorNet Financial Inc lifted its stake in Equitable by 333.5% during the 2nd quarter. AdvisorNet Financial Inc now owns 1,916 shares of the company’s stock worth $52,000 after acquiring an additional 1,474 shares in the last quarter. MV Capital Management Inc. purchased a new position in shares of Equitable in the first quarter valued at approximately $102,000. American International Group Inc. grew its holdings in shares of Equitable by 9.3% in 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 in the last quarter. Advisory Services Network LLC lifted its holdings in Equitable by 236.6% during the 1st quarter. Advisory Services Network LLC now owns 4,517 shares of the company’s stock worth $115,000 after buying an additional 3,175 shares in the last quarter. Finally, Captrust Financial Advisors boosted its position in Equitable by 30.1% in the 1st quarter. Captrust Financial Advisors now owns 5,856 shares of the company’s stock valued at $181,000 after buying an additional 1,355 shares during the period. 92.70% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Several analysts have recently issued reports on the company. Wells Fargo & Company reduced their price objective on Equitable from $41.00 to $40.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 17th. Jefferies Financial Group boosted their price objective on Equitable from $29.00 to $32.00 and gave the stock a “hold” rating in a research report on Thursday, September 14th. Barclays reduced their target price on shares of Equitable from $33.00 to $32.00 and set an “overweight” rating on the stock in a report on Tuesday, October 10th. JPMorgan Chase & Co. dropped their price objective on shares of Equitable from $36.00 to $35.00 and set an “overweight” rating on the stock in a research report on Friday, October 6th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on shares of Equitable in a research report on Wednesday, October 4th. They set a “hold” rating and a $31.00 price objective for the company. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Equitable currently has a consensus rating of “Moderate Buy” and an average target price of $34.63.
Equitable Price Performance
Shares of Equitable stock opened at $26.18 on Thursday. The firm’s fifty day simple moving average is $27.99 and its 200-day simple moving average is $26.93. Equitable Holdings, Inc. has a 12 month low of $21.89 and a 12 month high of $33.24. The stock has a market capitalization of $9.09 billion, a price-to-earnings ratio of 26.44 and a beta of 1.38.
Equitable (NYSE:EQH – Get Free Report) last announced its earnings results on Wednesday, August 2nd. The company reported $1.17 earnings per share for the quarter, meeting the consensus estimate of $1.17. The company had revenue of $3.34 billion during the quarter, compared to analysts’ expectations of $3.39 billion. Analysts anticipate that Equitable Holdings, Inc. will post 4.8 earnings per share for the current year.
Equitable Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Monday, August 14th. Stockholders of record on Monday, August 7th were paid a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 3.36%. The ex-dividend date was Friday, August 4th. Equitable’s dividend payout ratio (DPR) is presently 88.89%.
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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