Equitable Holdings, Inc. (NYSE:EQH) Stock Holdings Cut by Swiss National Bank

Swiss National Bank cut its stake in shares of Equitable Holdings, Inc. (NYSE:EQH) by 6.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,013,600 shares of the company’s stock after selling 72,600 shares during the quarter. Swiss National Bank’s holdings in Equitable were worth $38,527,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of EQH. Nomura Asset Management Co. Ltd. lifted its holdings in shares of Equitable by 0.4% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 88,548 shares of the company’s stock valued at $2,949,000 after purchasing an additional 329 shares in the last quarter. TCW Group Inc. lifted its holdings in shares of Equitable by 0.5% in the fourth quarter. TCW Group Inc. now owns 71,986 shares of the company’s stock valued at $2,397,000 after purchasing an additional 371 shares in the last quarter. GAMMA Investing LLC raised its holdings in shares of Equitable by 26.4% during the first quarter. GAMMA Investing LLC now owns 1,939 shares of the company’s stock worth $74,000 after acquiring an additional 405 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. raised its holdings in shares of Equitable by 4.2% during the first quarter. Tokio Marine Asset Management Co. Ltd. now owns 13,097 shares of the company’s stock worth $498,000 after acquiring an additional 528 shares in the last quarter. Finally, Lindbrook Capital LLC raised its holdings in shares of Equitable by 143.1% during the fourth quarter. Lindbrook Capital LLC now owns 1,004 shares of the company’s stock worth $33,000 after acquiring an additional 591 shares in the last quarter. 92.70% of the stock is owned by institutional investors.

Equitable Stock Up 1.0 %

EQH traded up $0.43 during midday trading on Monday, reaching $42.82. 83,289 shares of the company’s stock were exchanged, compared to its average volume of 2,686,510. The firm has a market capitalization of $13.93 billion, a price-to-earnings ratio of 13.12 and a beta of 1.43. Equitable Holdings, Inc. has a one year low of $24.65 and a one year high of $42.82. The business has a 50-day simple moving average of $40.62 and a two-hundred day simple moving average of $36.91.

Equitable (NYSE:EQH) last posted its quarterly earnings data on Tuesday, April 30th. The company reported $1.43 earnings per share for the quarter, topping the consensus estimate of $1.31 by $0.12. The company had revenue of $2.23 billion during the quarter, compared to the consensus estimate of $3.59 billion. During the same quarter last year, the firm earned $0.96 EPS. The business’s revenue for the quarter was down 5.4% on a year-over-year basis. As a group, research analysts anticipate that Equitable Holdings, Inc. will post 6.07 EPS for the current fiscal year.

Equitable Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 10th. Investors of record on Monday, June 3rd were given a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 2.24%. The ex-dividend date was Monday, June 3rd. This is a boost from Equitable’s previous quarterly dividend of $0.22. Equitable’s payout ratio is 29.72%.

Insiders Place Their Bets

In other news, COO Jeffrey J. Hurd sold 9,969 shares of the business’s stock in a transaction on Friday, June 14th. The shares were sold at an average price of $39.62, for a total value of $394,971.78. Following the completion of the transaction, the chief operating officer now owns 121,521 shares of the company’s stock, valued at approximately $4,814,662.02. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, COO Jeffrey J. Hurd sold 9,969 shares of the business’s stock in a transaction on Friday, June 14th. The shares were sold at an average price of $39.62, for a total value of $394,971.78. Following the sale, the chief operating officer now directly owns 121,521 shares of the company’s stock, valued at approximately $4,814,662.02. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Seth P. Bernstein sold 152,473 shares of the business’s stock in a transaction on Thursday, May 2nd. The shares were sold at an average price of $38.06, for a total transaction of $5,803,122.38. Following the completion of the sale, the insider now directly owns 88,660 shares in the company, valued at $3,374,399.60. The disclosure for this sale can be found here. Company insiders own 1.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Keefe, Bruyette & Woods increased their price objective on Equitable from $43.00 to $44.00 and gave the stock a “market perform” rating in a report on Monday, July 8th. UBS Group lowered Equitable from a “buy” rating to a “neutral” rating and increased their price objective for the stock from $40.00 to $43.00 in a report on Tuesday, June 18th. Jefferies Financial Group increased their price objective on Equitable from $46.00 to $51.00 and gave the stock a “buy” rating in a report on Friday, June 28th. Evercore ISI increased their price objective on Equitable from $42.00 to $46.00 and gave the stock an “outperform” rating in a report on Thursday, April 11th. Finally, Wells Fargo & Company lowered their target price on shares of Equitable from $46.00 to $44.00 and set an “overweight” rating on the stock in a research report on Friday, May 10th. Four investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, Equitable currently has a consensus rating of “Moderate Buy” and an average price target of $42.50.

About Equitable

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.