Tributary Capital Management LLC Purchases 3,000 Shares of Equitable Holdings, Inc. (NYSE:EQH)

Tributary Capital Management LLC increased its position in shares of Equitable Holdings, Inc. (NYSE:EQH) by 40.0% during the first quarter, HoldingsChannel reports. The fund owned 10,500 shares of the company’s stock after buying an additional 3,000 shares during the quarter. Tributary Capital Management LLC’s holdings in Equitable were worth $399,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Norges Bank bought a new stake in shares of Equitable in the 4th quarter valued at about $606,630,000. Hsbc Holdings PLC grew its position in shares of Equitable by 1,161.7% in the 4th quarter. Hsbc Holdings PLC now owns 7,849,706 shares of the company’s stock valued at $262,692,000 after buying an additional 7,227,568 shares during the last quarter. Principal Financial Group Inc. grew its position in shares of Equitable by 1,105.3% in the 4th quarter. Principal Financial Group Inc. now owns 1,242,941 shares of the company’s stock valued at $41,390,000 after buying an additional 1,139,814 shares during the last quarter. Northern Trust Corp grew its position in shares of Equitable by 24.6% in the 4th quarter. Northern Trust Corp now owns 3,958,417 shares of the company’s stock valued at $131,815,000 after buying an additional 781,426 shares during the last quarter. Finally, The Manufacturers Life Insurance Company grew its position in shares of Equitable by 4,172.5% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 593,017 shares of the company’s stock valued at $16,836,000 after buying an additional 579,137 shares during the last quarter. Institutional investors own 92.70% of the company’s stock.

Equitable Stock Performance

EQH stock opened at $41.38 on Wednesday. The stock’s 50 day simple moving average is $40.07 and its 200 day simple moving average is $36.47. Equitable Holdings, Inc. has a fifty-two week low of $24.65 and a fifty-two week high of $41.95. The company has a market cap of $13.46 billion, a P/E ratio of 12.81 and a beta of 1.43.

Equitable (NYSE:EQH) last posted its quarterly earnings results on Tuesday, April 30th. The company reported $1.43 earnings per share for the quarter, topping analysts’ consensus estimates of $1.31 by $0.12. The firm had revenue of $2.23 billion for the quarter, compared to analyst estimates of $3.59 billion. The firm’s quarterly revenue was down 5.4% compared to the same quarter last year. During the same period last year, the company posted $0.96 earnings per share. Equities analysts predict that Equitable Holdings, Inc. will post 6.12 earnings per share for the current year.

Equitable Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 10th. Stockholders of record on Monday, June 3rd were paid a $0.24 dividend. The ex-dividend date was Monday, June 3rd. This is an increase from Equitable’s previous quarterly dividend of $0.22. This represents a $0.96 annualized dividend and a dividend yield of 2.32%. Equitable’s dividend payout ratio is 29.72%.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. Jefferies Financial Group upped their price target on Equitable from $46.00 to $51.00 and gave the company a “buy” rating in a research report on Friday, June 28th. Wells Fargo & Company dropped their price objective on Equitable from $46.00 to $44.00 and set an “overweight” rating on the stock in a research note on Friday, May 10th. Truist Financial boosted their price objective on Equitable from $40.00 to $44.00 and gave the company a “buy” rating in a research note on Thursday, May 2nd. UBS Group downgraded Equitable from a “buy” rating to a “neutral” rating and boosted their price objective for the company from $40.00 to $43.00 in a research note on Tuesday, June 18th. Finally, Keefe, Bruyette & Woods boosted their price objective on Equitable from $41.00 to $43.00 and gave the company a “market perform” rating in a research note on Tuesday, May 7th. Four research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, Equitable currently has an average rating of “Moderate Buy” and a consensus target price of $41.90.

Insider Transactions at Equitable

In other news, COO Jeffrey J. Hurd sold 9,969 shares of the stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $36.24, for a total value of $361,276.56. Following the completion of the sale, the chief operating officer now directly owns 141,062 shares of the company’s stock, valued at $5,112,086.88. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, CEO Mark Pearson sold 30,000 shares of the stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $36.24, for a total transaction of $1,087,200.00. Following the completion of the sale, the chief executive officer now directly owns 685,025 shares of the company’s stock, valued at $24,825,306. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Jeffrey J. Hurd sold 9,969 shares of the stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $36.24, for a total value of $361,276.56. Following the sale, the chief operating officer now directly owns 141,062 shares of the company’s stock, valued at $5,112,086.88. The disclosure for this sale can be found here. Insiders sold a total of 202,411 shares of company stock valued at $7,646,571 over the last ninety days. 1.10% of the stock is currently owned by insiders.

Equitable Company Profile

Equitable Holdings, Inc, together with its consolidated subsidiaries, operates as a diversified financial services company worldwide. The company operates through six segments: Individual Retirement, Group Retirement, Investment Management and Research, Protection Solutions, Wealth Management, and Legacy.