Summit Global Investments Has $6.54 Million Holdings in Equitable Holdings, Inc. (NYSE:EQH)

Summit Global Investments raised its holdings in Equitable Holdings, Inc. (NYSE:EQH) by 710.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 138,740 shares of the company’s stock after acquiring an additional 121,621 shares during the period. Summit Global Investments’ holdings in Equitable were worth $6,544,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. grew its stake in Equitable by 20.3% in the third quarter. JPMorgan Chase & Co. now owns 908,653 shares of the company’s stock valued at $38,191,000 after acquiring an additional 153,457 shares during the period. Miracle Mile Advisors LLC acquired a new position in Equitable in the fourth quarter valued at about $295,000. Principal Financial Group Inc. grew its stake in Equitable by 7.5% in the third quarter. Principal Financial Group Inc. now owns 2,117,568 shares of the company’s stock valued at $89,001,000 after acquiring an additional 148,180 shares during the period. Vest Financial LLC grew its stake in Equitable by 11.7% in the fourth quarter. Vest Financial LLC now owns 752,091 shares of the company’s stock valued at $35,476,000 after acquiring an additional 78,725 shares during the period. Finally, Qsemble Capital Management LP grew its stake in Equitable by 902.4% in the third quarter. Qsemble Capital Management LP now owns 78,456 shares of the company’s stock valued at $3,298,000 after acquiring an additional 70,629 shares during the period. 92.70% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, COO Jeffrey J. Hurd sold 6,666 shares of the company’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $55.38, for a total value of $369,163.08. Following the transaction, the chief operating officer now owns 104,298 shares of the company’s stock, valued at approximately $5,776,023.24. This represents a 6.01 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO William James Iv Eckert sold 1,700 shares of the company’s stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $46.68, for a total value of $79,356.00. Following the completion of the transaction, the chief accounting officer now directly owns 17,677 shares in the company, valued at $825,162.36. The trade was a 8.77 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 105,032 shares of company stock valued at $5,443,966. 1.10% of the stock is owned by insiders.

Equitable Price Performance

NYSE:EQH opened at $52.49 on Friday. The company has a quick ratio of 0.12, a current ratio of 0.07 and a debt-to-equity ratio of 3.07. The stock’s 50 day moving average price is $52.75 and its two-hundred day moving average price is $47.89. The firm has a market capitalization of $16.16 billion, a price-to-earnings ratio of 13.74 and a beta of 1.39. Equitable Holdings, Inc. has a 12-month low of $35.49 and a 12-month high of $56.00.

Equitable (NYSE:EQH) last released its quarterly earnings data on Wednesday, February 5th. The company reported $1.57 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.65 by ($0.08). Equitable had a net margin of 10.51% and a return on equity of 85.70%. On average, analysts anticipate that Equitable Holdings, Inc. will post 7.33 earnings per share for the current year.

Equitable Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 12th. Stockholders of record on Wednesday, March 5th were given a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 1.83%. The ex-dividend date was Wednesday, March 5th. Equitable’s payout ratio is 25.13%.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on EQH shares. Keefe, Bruyette & Woods boosted their target price on Equitable from $62.00 to $66.00 and gave the company an “outperform” rating in a research note on Friday, February 28th. Truist Financial upped their price objective on Equitable from $52.00 to $60.00 and gave the stock a “buy” rating in a research report on Monday, February 10th. Barclays upped their price objective on Equitable from $60.00 to $61.00 and gave the stock an “overweight” rating in a research report on Monday, January 6th. BMO Capital Markets upped their price objective on Equitable from $69.00 to $72.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 25th. Finally, JPMorgan Chase & Co. upped their target price on Equitable from $45.00 to $53.00 and gave the stock a “neutral” rating in a report on Tuesday, January 7th. Two analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, Equitable has an average rating of “Moderate Buy” and an average target price of $57.75.

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.