Highland Capital Management LLC Invests $4.08 Million in Equitable Holdings, Inc. (NYSE:EQH)

Highland Capital Management LLC purchased a new position in Equitable Holdings, Inc. (NYSE:EQHGet Rating) during the 2nd quarter, HoldingsChannel.com reports. The fund purchased 156,600 shares of the company’s stock, valued at approximately $4,083,000.

Other institutional investors have also modified their holdings of the company. Riverview Trust Co acquired a new position in shares of Equitable in the first quarter worth about $25,000. DB Wealth Management Group LLC acquired a new position in shares of Equitable in the first quarter worth about $26,000. Allworth Financial LP raised its stake in Equitable by 8,054.5% during the first quarter. Allworth Financial LP now owns 897 shares of the company’s stock valued at $28,000 after buying an additional 886 shares in the last quarter. Selective Wealth Management Inc. acquired a new stake in Equitable during the first quarter valued at approximately $46,000. Finally, CWM LLC raised its stake in Equitable by 129.8% during the first quarter. CWM LLC now owns 1,744 shares of the company’s stock valued at $54,000 after buying an additional 985 shares in the last quarter. Institutional investors and hedge funds own 91.87% of the company’s stock.

Equitable Price Performance

Shares of EQH stock opened at $28.29 on Friday. Equitable Holdings, Inc. has a 12-month low of $24.61 and a 12-month high of $37.13. The firm has a market capitalization of $10.63 billion, a price-to-earnings ratio of 3.51 and a beta of 1.43. The business has a 50 day simple moving average of $29.12 and a 200 day simple moving average of $29.09.

Equitable (NYSE:EQHGet Rating) last issued its quarterly earnings data on Wednesday, August 3rd. The company reported $1.31 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.31. The business had revenue of $3.51 billion during the quarter, compared to the consensus estimate of $3.32 billion. On average, equities analysts anticipate that Equitable Holdings, Inc. will post 5.35 EPS for the current fiscal year.

Equitable Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 15th. Investors of record on Monday, August 8th were issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 2.83%. The ex-dividend date was Friday, August 5th. Equitable’s dividend payout ratio (DPR) is 9.94%.

Analyst Ratings Changes

Several analysts have issued reports on the company. Evercore ISI cut their price objective on Equitable from $45.00 to $41.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 6th. Truist Financial cut their price objective on Equitable from $42.00 to $38.00 and set a “buy” rating on the stock in a research note on Monday, July 11th. Morgan Stanley upped their price objective on Equitable from $43.00 to $44.00 and gave the company an “overweight” rating in a research note on Wednesday, August 17th. Barclays upped their price objective on Equitable from $32.00 to $36.00 and gave the company an “overweight” rating in a research note on Thursday, August 18th. Finally, JPMorgan Chase & Co. lowered their target price on Equitable from $36.00 to $34.00 in a report on Monday, July 11th. Ten research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $41.67.

Insider Buying and Selling

In related news, CEO Mark Pearson sold 60,000 shares of the stock in a transaction that occurred on Thursday, August 11th. The stock was sold at an average price of $30.02, for a total value of $1,801,200.00. Following the completion of the transaction, the chief executive officer now directly owns 463,780 shares of the company’s stock, valued at approximately $13,922,675.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Equitable news, Director Bertram L. Scott sold 7,300 shares of the stock in a transaction on Thursday, September 8th. The stock was sold at an average price of $29.87, for a total transaction of $218,051.00. Following the completion of the transaction, the director now directly owns 21,429 shares of the company’s stock, valued at approximately $640,084.23. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Mark Pearson sold 60,000 shares of the stock in a transaction on Thursday, August 11th. The shares were sold at an average price of $30.02, for a total value of $1,801,200.00. Following the transaction, the chief executive officer now directly owns 463,780 shares of the company’s stock, valued at $13,922,675.60. The disclosure for this sale can be found here. Insiders sold 190,472 shares of company stock valued at $5,738,065 in the last three months. 0.98% of the stock is currently owned by corporate insiders.

About Equitable

(Get Rating)

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.

See Also

Want to see what other hedge funds are holding EQH? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Equitable Holdings, Inc. (NYSE:EQHGet Rating).

Institutional Ownership by Quarter for Equitable (NYSE:EQH)

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