Highland Capital Management LLC Buys Shares of 156,600 Equitable Holdings, Inc. (NYSE:EQH)

Highland Capital Management LLC bought a new stake in Equitable Holdings, Inc. (NYSE:EQHGet Rating) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 156,600 shares of the company’s stock, valued at approximately $4,083,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Private Advisor Group LLC grew its stake in shares of Equitable by 110.3% in the 2nd quarter. Private Advisor Group LLC now owns 19,474 shares of the company’s stock valued at $508,000 after purchasing an additional 10,213 shares during the last quarter. Wedge Capital Management L L P NC lifted its holdings in shares of Equitable by 1.9% in the 2nd quarter. Wedge Capital Management L L P NC now owns 1,024,634 shares of the company’s stock valued at $26,712,000 after buying an additional 18,886 shares during the period. DnB Asset Management AS lifted its holdings in shares of Equitable by 56.3% in the 2nd quarter. DnB Asset Management AS now owns 96,386 shares of the company’s stock valued at $2,513,000 after buying an additional 34,731 shares during the period. AdvisorNet Financial Inc lifted its holdings in shares of Equitable by 4,568.3% in the 2nd quarter. AdvisorNet Financial Inc now owns 20,027 shares of the company’s stock valued at $522,000 after buying an additional 19,598 shares during the period. Finally, Livforsakringsbolaget Skandia Omsesidigt lifted its holdings in shares of Equitable by 7.9% in the 1st quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 72,800 shares of the company’s stock valued at $2,250,000 after buying an additional 5,300 shares during the period. 91.87% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Bertram L. Scott sold 7,300 shares of Equitable stock in a transaction on Thursday, September 8th. The stock was sold at an average price of $29.87, for a total value of $218,051.00. Following the completion of the sale, the director now owns 21,429 shares of the company’s stock, valued at $640,084.23. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, Director Bertram L. Scott sold 7,300 shares of Equitable stock in a transaction on Thursday, September 8th. The stock was sold at an average price of $29.87, for a total value of $218,051.00. Following the completion of the sale, the director now owns 21,429 shares of the company’s stock, valued at $640,084.23. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Mark Pearson sold 30,000 shares of Equitable stock in a transaction on Thursday, September 15th. The shares were sold at an average price of $30.02, for a total value of $900,600.00. Following the completion of the sale, the chief executive officer now directly owns 445,307 shares of the company’s stock, valued at approximately $13,368,116.14. The disclosure for this sale can be found here. Insiders sold a total of 190,472 shares of company stock valued at $5,738,065 over the last quarter. Company insiders own 0.98% of the company’s stock.

Equitable Stock Down 2.6 %

NYSE EQH opened at $28.29 on Friday. Equitable Holdings, Inc. has a fifty-two week low of $24.61 and a fifty-two week high of $37.13. The stock has a market cap of $10.63 billion, a price-to-earnings ratio of 3.51 and a beta of 1.43. The business has a fifty day moving average of $29.12 and a 200-day moving average of $29.09.

Equitable (NYSE:EQHGet Rating) last released its quarterly earnings results on Wednesday, August 3rd. The company reported $1.31 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.31. The company had revenue of $3.51 billion during the quarter, compared to analyst estimates of $3.32 billion. As a group, analysts anticipate that Equitable Holdings, Inc. will post 5.35 EPS for the current year.

Equitable Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. Truist Financial reduced their price target on Equitable from $42.00 to $38.00 and set a “buy” rating for the company in a report on Monday, July 11th. Morgan Stanley raised their price target on Equitable from $43.00 to $44.00 and gave the company an “overweight” rating in a report on Wednesday, August 17th. Evercore ISI reduced their price objective on Equitable from $45.00 to $41.00 and set an “outperform” rating for the company in a report on Wednesday, July 6th. Barclays lifted their price objective on Equitable from $32.00 to $36.00 and gave the stock an “overweight” rating in a report on Thursday, August 18th. Finally, JPMorgan Chase & Co. reduced their price objective 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 assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $41.67.

Equitable Company Profile

(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

Institutional Ownership by Quarter for Equitable (NYSE:EQH)

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