Equitable Holdings Inc (NYSE:EQH) Shares Sold by Skandinaviska Enskilda Banken AB publ
Skandinaviska Enskilda Banken AB publ lessened its stake in Equitable Holdings Inc (NYSE:EQH) by 93.5% during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 145,500 shares of the company’s stock after selling 2,103,640 shares during the quarter. Skandinaviska Enskilda Banken AB publ’s holdings in Equitable were worth $2,102,000 as of its most recent filing with the SEC.
A number of other large investors have also recently bought and sold shares of the stock. RMR Wealth Builders bought a new stake in Equitable in the fourth quarter valued at about $51,000. Banque Cantonale Vaudoise acquired a new position in Equitable in the fourth quarter worth $131,000. First Mercantile Trust Co. acquired a new stake in shares of Equitable during the first quarter worth $80,000. Metropolitan Life Insurance Co NY raised its holdings in shares of Equitable by 18.5% during the first quarter. Metropolitan Life Insurance Co NY now owns 5,765 shares of the company’s stock worth $116,000 after purchasing an additional 898 shares during the period. Finally, American International Group Inc. boosted its holdings in shares of Equitable by 36.4% in the 4th quarter. American International Group Inc. now owns 6,500 shares of the company’s stock valued at $161,000 after buying an additional 1,733 shares during the period. Institutional investors and hedge funds own 87.46% of the company’s stock.
A number of brokerages have issued reports on EQH. Wells Fargo & Co raised their target price on shares of Equitable from $21.00 to $23.00 and gave the stock an “overweight” rating in a report on Tuesday, April 28th. Morgan Stanley dropped their target price on Equitable from $29.00 to $21.00 and set an “overweight” rating on the stock in a research report on Tuesday, March 17th. Royal Bank of Canada reissued a “hold” rating and set a $20.00 price target on shares of Equitable in a report on Sunday, May 10th. Credit Suisse Group raised shares of Equitable from a “neutral” rating to an “outperform” rating and dropped their price objective for the stock from $27.00 to $22.00 in a report on Wednesday, April 1st. Finally, SunTrust Banks reduced their target price on shares of Equitable from $27.00 to $24.00 and set a “buy” rating for the company in a research note on Wednesday, May 13th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and six have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $22.75.
Equitable (NYSE:EQH) last issued its quarterly earnings results on Thursday, May 7th. The company reported $1.08 EPS for the quarter, missing the consensus estimate of $1.14 by ($0.06). The business had revenue of $12.59 billion for the quarter, compared to analysts’ expectations of $3.47 billion. During the same quarter in the previous year, the business posted $0.98 EPS. Analysts forecast that Equitable Holdings Inc will post 4.28 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 9th. Investors of record on Monday, June 1st were issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 3.58%. This is a boost from Equitable’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend was Friday, May 29th. Equitable’s dividend payout ratio (DPR) is presently 14.02%.
Equitable Company Profile
Equitable Holdings, Inc operates as a diversified financial services company worldwide. It 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.
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