Artemis Investment Management LLP reduced its stake in shares of Equitable Holdings, Inc. (NYSE:EQH – Get Rating) by 40.3% in the first quarter, HoldingsChannel reports. The institutional investor owned 1,586,261 shares of the company’s stock after selling 1,071,878 shares during the period. Artemis Investment Management LLP’s holdings in Equitable were worth $48,956,000 at the end of the most recent reporting period.
Several other institutional investors also recently added to or reduced their stakes in the company. CWM LLC bought a new stake in shares of Equitable in the fourth quarter worth about $25,000. UMB Bank N A MO bought a new stake in Equitable in the 4th quarter worth approximately $25,000. Riverview Trust Co bought a new position in shares of Equitable during the 1st quarter valued at approximately $25,000. EverSource Wealth Advisors LLC purchased a new position in shares of Equitable in the fourth quarter valued at $27,000. Finally, Selective Wealth Management Inc. bought a new stake in Equitable in the first quarter worth $46,000.
In other news, insider Nick Lane sold 25,724 shares of the firm’s stock in a transaction dated Monday, April 18th. The stock was sold at an average price of $30.52, for a total value of $785,096.48. Following the completion of the transaction, the insider now directly owns 116,007 shares in the company, valued at $3,540,533.64. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, COO Jeffrey J. Hurd sold 8,000 shares of the stock in a transaction on Thursday, May 26th. The stock was sold at an average price of $30.00, for a total transaction of $240,000.00. Following the completion of the sale, the chief operating officer now owns 95,904 shares in the company, valued at approximately $2,877,120. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 101,724 shares of company stock valued at $3,086,416. 0.98% of the stock is owned by company insiders.
Equitable (NYSE:EQH – Get Rating) last posted its earnings results on Monday, May 9th. The company reported $1.53 EPS for the quarter, meeting analysts’ consensus estimates of $1.53. The business had revenue of $3.72 billion for the quarter, compared to analysts’ expectations of $3.61 billion. During the same period last year, the business posted $1.13 EPS. As a group, research analysts forecast that Equitable Holdings, Inc. will post 6.2 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 6th. Investors of record on Monday, May 30th were paid a $0.20 dividend. This is an increase from Equitable’s previous quarterly dividend of $0.18. The ex-dividend date of this dividend was Thursday, May 26th. This represents a $0.80 dividend on an annualized basis and a yield of 3.04%. Equitable’s payout ratio is 21.00%.
A number of brokerages recently commented on EQH. Barclays lowered their price target on shares of Equitable from $43.00 to $37.00 in a report on Thursday, May 12th. UBS Group upgraded shares of Equitable to a “positive” rating in a research report on Wednesday, May 11th. JPMorgan Chase & Co. upgraded shares of Equitable from a “neutral” rating to an “overweight” rating and set a $36.00 target price for the company in a report on Wednesday, May 25th. TheStreet raised shares of Equitable from a “c+” rating to a “b” rating in a research note on Monday, May 9th. Finally, Citigroup started coverage on Equitable in a research note on Monday, May 23rd. They set a “buy” rating and a $41.00 price target for the company. Eight investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Buy” and an average target price of $43.14.
Equitable Profile (Get Rating)
Equitable Holdings, Inc, together with its consolidated subsidiaries, operates as a diversified financial services company worldwide. The company 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.
- Get a free copy of the StockNews.com research report on Equitable (EQH)
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