JPMorgan Chase & Co. Grows Stock Holdings in Equitable Holdings, Inc. (NYSE:EQH)

JPMorgan Chase & Co. grew its stake in Equitable Holdings, Inc. (NYSE:EQH) by 20.3% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 908,653 shares of the company’s stock after acquiring an additional 153,457 shares during the quarter. JPMorgan Chase & Co.’s holdings in Equitable were worth $38,191,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of EQH. Covestor Ltd grew its position in Equitable by 61.5% during the 3rd quarter. Covestor Ltd now owns 646 shares of the company’s stock valued at $27,000 after purchasing an additional 246 shares during the last quarter. Carolina Wealth Advisors LLC bought a new position in shares of Equitable in the third quarter worth approximately $48,000. UMB Bank n.a. grew its holdings in shares of Equitable by 86.3% during the third quarter. UMB Bank n.a. now owns 1,550 shares of the company’s stock valued at $65,000 after buying an additional 718 shares during the last quarter. Quarry LP boosted its stake in Equitable by 623.5% during the 2nd quarter. Quarry LP now owns 2,366 shares of the company’s stock valued at $97,000 after purchasing an additional 2,039 shares during the last quarter. Finally, Van ECK Associates Corp bought a new stake in shares of Equitable in the 2nd quarter worth $109,000. 92.70% of the stock is owned by hedge funds and other institutional investors.

Equitable Stock Performance

Shares of NYSE EQH opened at $48.55 on Monday. The company has a current ratio of 0.12, a quick ratio of 0.12 and a debt-to-equity ratio of 1.63. Equitable Holdings, Inc. has a 12-month low of $31.76 and a 12-month high of $50.51. The firm has a market capitalization of $15.21 billion, a price-to-earnings ratio of -44.54 and a beta of 1.39. The firm has a 50 day moving average of $47.16 and a 200 day moving average of $43.59.

Equitable (NYSE:EQH) last issued its quarterly earnings data on Monday, November 4th. The company reported $1.53 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.53. Equitable had a negative net margin of 2.64% and a positive return on equity of 76.47%. The firm had revenue of $3.08 billion during the quarter, compared to the consensus estimate of $3.78 billion. During the same quarter in the previous year, the firm posted $1.15 EPS. The company’s revenue for the quarter was down 15.1% compared to the same quarter last year. On average, research analysts anticipate that Equitable Holdings, Inc. will post 6.05 earnings per share for the current year.

Equitable Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 3rd. Stockholders of record on Tuesday, November 26th were given a dividend of $0.24 per share. The ex-dividend date of this dividend was Tuesday, November 26th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.98%. Equitable’s payout ratio is currently -88.07%.

Insider Activity at Equitable

In other Equitable news, CAO William James Iv Eckert sold 1,700 shares of the firm’s stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $46.68, for a total transaction of $79,356.00. Following the sale, the chief accounting officer now directly owns 17,677 shares of the company’s stock, valued at $825,162.36. This trade represents a 8.77 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Nick Lane sold 25,000 shares of the company’s stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $45.84, for a total value of $1,146,000.00. Following the completion of the transaction, the insider now directly owns 141,629 shares of the company’s stock, valued at approximately $6,492,273.36. This trade represents a 15.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 130,032 shares of company stock worth $6,031,759. 1.10% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on EQH shares. Keefe, Bruyette & Woods upgraded Equitable from a “market perform” rating to an “outperform” rating and lifted their price objective for the stock from $54.00 to $58.00 in a report on Monday, December 9th. Wells Fargo & Company increased their price objective on shares of Equitable from $43.00 to $47.00 and gave the company an “overweight” rating in a research report on Thursday, October 10th. Finally, Barclays raised their target price on shares of Equitable from $59.00 to $60.00 and gave the stock an “overweight” rating in a report on Tuesday, October 8th. Two equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, Equitable presently has a consensus rating of “Moderate Buy” and an average target price of $50.10.

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.