63,193 Shares in Equitable Holdings, Inc. $EQH Purchased by Meridian Wealth Management LLC

Meridian Wealth Management LLC acquired a new stake in Equitable Holdings, Inc. (NYSE:EQH) in the 2nd quarter, Holdings Channel reports. The institutional investor acquired 63,193 shares of the company’s stock, valued at approximately $3,545,000.

A number of other large investors also recently modified their holdings of the stock. Wellington Management Group LLP increased its holdings in shares of Equitable by 23.4% in the first quarter. Wellington Management Group LLP now owns 10,878,516 shares of the company’s stock valued at $566,662,000 after purchasing an additional 2,061,496 shares in the last quarter. Geode Capital Management LLC boosted its position in Equitable by 26.4% in the 2nd quarter. Geode Capital Management LLC now owns 7,428,619 shares of the company’s stock valued at $415,786,000 after buying an additional 1,551,551 shares during the last quarter. Acadian Asset Management LLC increased its stake in shares of Equitable by 4.8% in the 1st quarter. Acadian Asset Management LLC now owns 5,789,138 shares of the company’s stock valued at $301,536,000 after buying an additional 265,759 shares during the period. Massachusetts Financial Services Co. MA raised its position in shares of Equitable by 29.6% during the second quarter. Massachusetts Financial Services Co. MA now owns 5,498,091 shares of the company’s stock worth $308,443,000 after acquiring an additional 1,254,521 shares during the last quarter. Finally, Nordea Investment Management AB lifted its stake in shares of Equitable by 18.3% during the second quarter. Nordea Investment Management AB now owns 3,985,846 shares of the company’s stock valued at $223,168,000 after acquiring an additional 615,314 shares during the period. 92.70% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. Evercore ISI lifted their price objective on Equitable from $63.00 to $64.00 and gave the stock an “outperform” rating in a research report on Thursday, October 9th. Barclays reissued an “overweight” rating and set a $63.00 price target on shares of Equitable in a research note on Wednesday, October 8th. Wolfe Research raised shares of Equitable to a “strong-buy” rating in a research note on Tuesday, September 16th. Wells Fargo & Company dropped their target price on shares of Equitable from $65.00 to $62.00 and set an “overweight” rating for the company in a research report on Friday, November 7th. Finally, Keefe, Bruyette & Woods increased their price target on Equitable from $64.00 to $65.00 and gave the company an “outperform” rating in a research note on Thursday, October 9th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $64.18.

Insider Activity at Equitable

In related news, CEO Mark Pearson sold 39,700 shares of the business’s stock in a transaction on Monday, October 20th. The shares were sold at an average price of $48.17, for a total value of $1,912,349.00. Following the sale, the chief executive officer directly owned 689,040 shares of the company’s stock, valued at approximately $33,191,056.80. The trade was a 5.45% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Robin M. Raju sold 36,888 shares of the company’s stock in a transaction on Monday, September 22nd. The stock was sold at an average price of $54.00, for a total transaction of $1,991,952.00. Following the completion of the transaction, the chief financial officer directly owned 140,258 shares of the company’s stock, valued at approximately $7,573,932. The trade was a 20.82% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 172,168 shares of company stock worth $8,994,990. Corporate insiders own 1.10% of the company’s stock.

Equitable Price Performance

EQH opened at $44.57 on Friday. The company has a fifty day simple moving average of $49.75 and a 200 day simple moving average of $51.84. The company has a quick ratio of 0.14, a current ratio of 0.13 and a debt-to-equity ratio of 11.87. The stock has a market cap of $12.77 billion, a P/E ratio of -16.15 and a beta of 1.17. Equitable Holdings, Inc. has a 12 month low of $41.39 and a 12 month high of $56.61.

Equitable (NYSE:EQH) last posted its earnings results on Tuesday, November 4th. The company reported $1.48 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.59 by ($0.11). The business had revenue of $1.45 billion during the quarter, compared to analyst estimates of $3.65 billion. Equitable had a negative net margin of 5.80% and a positive return on equity of 107.71%. The firm’s revenue was down 52.8% on a year-over-year basis. During the same period in the previous year, the firm posted $1.58 earnings per share. On average, research analysts expect that Equitable Holdings, Inc. will post 7.33 EPS for the current year.

Equitable Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 1st. Shareholders of record on Monday, November 24th will be issued a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 2.4%. The ex-dividend date is Monday, November 24th. Equitable’s dividend payout ratio (DPR) is -39.13%.

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.