Schroder Investment Management Group lifted its stake in shares of Equitable Holdings, Inc. (NYSE:EQH) by 24.0% in the fourth quarter, Holdings Channel.com reports. The fund owned 255,269 shares of the company’s stock after acquiring an additional 49,357 shares during the quarter. Schroder Investment Management Group’s holdings in Equitable were worth $6,533,000 at the end of the most recent quarter.
A number of other hedge funds have also modified their holdings of the business. Prelude Capital Management LLC bought a new stake in Equitable in the fourth quarter worth approximately $1,748,000. Charles Schwab Investment Management Inc. increased its holdings in Equitable by 2.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,033,307 shares of the company’s stock worth $52,033,000 after purchasing an additional 49,863 shares in the last quarter. Stifel Financial Corp increased its holdings in Equitable by 124.6% in the fourth quarter. Stifel Financial Corp now owns 103,260 shares of the company’s stock worth $2,642,000 after purchasing an additional 57,286 shares in the last quarter. Caas Capital Management LP bought a new stake in Equitable in the fourth quarter worth approximately $2,426,000. Finally, Allstate Corp bought a new stake in Equitable in the fourth quarter worth approximately $250,000. Institutional investors and hedge funds own 87.91% of the company’s stock.
EQH opened at $33.55 on Friday. The company has a market capitalization of $14.37 billion, a price-to-earnings ratio of -31.95 and a beta of 1.65. The firm has a 50-day moving average price of $31.93 and a 200-day moving average price of $26.38. Equitable Holdings, Inc. has a twelve month low of $14.08 and a twelve month high of $34.04.
The business also recently announced a quarterly dividend, which was paid on Thursday, March 11th. Shareholders of record on Thursday, March 4th were given a dividend of $0.17 per share. The ex-dividend date of this dividend was Wednesday, March 3rd. This represents a $0.68 annualized dividend and a yield of 2.03%. Equitable’s payout ratio is presently 14.02%.
EQH has been the subject of several recent research reports. JPMorgan Chase & Co. boosted their price objective on Equitable from $27.00 to $32.00 and gave the company a “neutral” rating in a report on Monday, April 5th. Credit Suisse Group raised their price objective on shares of Equitable from $34.00 to $42.00 and gave the stock an “outperform” rating in a report on Tuesday, March 16th. Citigroup raised their price objective on shares of Equitable from $34.00 to $38.00 in a report on Wednesday, March 31st. Truist raised their price objective on shares of Equitable from $26.00 to $35.00 in a report on Thursday, February 18th. Finally, Zacks Investment Research upgraded shares of Equitable from a “sell” rating to a “hold” rating in a report on Wednesday, February 24th. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Equitable has a consensus rating of “Buy” and a consensus price target of $32.17.
In other Equitable news, EVP Dave S. Hattem sold 3,000 shares of the firm’s stock in a transaction on Monday, March 15th. The shares were sold at an average price of $32.27, for a total value of $96,810.00. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Anders Malmstrom sold 200,880 shares of the business’s stock in a transaction dated Friday, March 19th. The shares were sold at an average price of $32.82, for a total transaction of $6,592,881.60. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 289,632 shares of company stock valued at $9,466,524. Company insiders own 0.40% of the company’s stock.
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.
Further Reading: Exchange-Traded Funds (ETFs)
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