Amalgamated Bank Acquires 151,313 Shares of Equitable Holdings, Inc. (NYSE:EQH)

Amalgamated Bank increased its holdings in Equitable Holdings, Inc. (NYSE:EQH) by 185.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 232,922 shares of the company’s stock after acquiring an additional 151,313 shares during the quarter. Amalgamated Bank owned about 0.07% of Equitable worth $7,756,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently bought and sold shares of the business. Pzena Investment Management LLC increased its stake in shares of Equitable by 10.0% during the third quarter. Pzena Investment Management LLC now owns 26,902,560 shares of the company’s stock valued at $763,764,000 after purchasing an additional 2,450,484 shares in the last quarter. The Manufacturers Life Insurance Company raised its stake in Equitable by 4,172.5% during the third quarter. The Manufacturers Life Insurance Company now owns 593,017 shares of the company’s stock valued at $16,836,000 after buying an additional 579,137 shares during the last quarter. Vanguard Group Inc. boosted its holdings in Equitable by 1.1% in the third quarter. Vanguard Group Inc. now owns 37,565,700 shares of the company’s stock worth $1,066,490,000 after acquiring an additional 402,720 shares in the last quarter. Retirement Systems of Alabama purchased a new stake in shares of Equitable in the fourth quarter worth $13,270,000. Finally, Lazard Asset Management LLC increased its holdings in shares of Equitable by 50.2% during the third quarter. Lazard Asset Management LLC now owns 940,392 shares of the company’s stock valued at $26,696,000 after acquiring an additional 314,468 shares in the last quarter. 92.70% of the stock is owned by hedge funds and other institutional investors.

Equitable Stock Performance

Equitable stock opened at $38.54 on Friday. The stock has a market cap of $12.63 billion, a PE ratio of 11.93 and a beta of 1.40. The stock has a fifty day moving average of $36.26 and a 200 day moving average of $33.00. Equitable Holdings, Inc. has a one year low of $21.89 and a one year high of $39.11.

Equitable (NYSE:EQH) last issued its quarterly earnings data on Tuesday, April 30th. The company reported $1.43 earnings per share for the quarter, topping the consensus estimate of $1.31 by $0.12. The business had revenue of $2.23 billion during the quarter, compared to the consensus estimate of $3.59 billion. Equitable’s revenue for the quarter was down 5.4% on a year-over-year basis. During the same quarter last year, the company earned $0.96 EPS. As a group, sell-side analysts predict that Equitable Holdings, Inc. will post 6.06 EPS for the current fiscal year.

Equitable Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 4th. Stockholders of record on Monday, February 26th were given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.28%. The ex-dividend date was Friday, February 23rd. Equitable’s payout ratio is 27.24%.

Insider Transactions at Equitable

In other Equitable news, insider Seth P. Bernstein sold 152,473 shares of the business’s stock in a transaction dated Thursday, May 2nd. The stock was sold at an average price of $38.06, for a total transaction of $5,803,122.38. Following the completion of the sale, the insider now owns 88,660 shares of the company’s stock, valued at $3,374,399.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Equitable news, insider Nick Lane sold 20,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $34.02, for a total transaction of $680,400.00. Following the sale, the insider now owns 144,132 shares in the company, valued at approximately $4,903,370.64. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Seth P. Bernstein sold 152,473 shares of the company’s stock in a transaction that occurred on Thursday, May 2nd. The stock was sold at an average price of $38.06, for a total transaction of $5,803,122.38. Following the completion of the transaction, the insider now owns 88,660 shares of the company’s stock, valued at $3,374,399.60. The disclosure for this sale can be found here. Insiders sold 334,380 shares of company stock worth $12,198,971 in the last three months. Corporate insiders own 1.10% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. Evercore ISI upped their price target on shares of Equitable from $42.00 to $46.00 and gave the stock an “outperform” rating in a research note on Thursday, April 11th. Jefferies Financial Group raised their price target on shares of Equitable from $42.00 to $45.00 and gave the company a “buy” rating in a research report on Friday, March 22nd. Truist Financial upped their price objective on Equitable from $40.00 to $44.00 and gave the company a “buy” rating in a research report on Thursday. Keefe, Bruyette & Woods lifted their target price on Equitable from $39.00 to $41.00 and gave the stock a “market perform” rating in a report on Wednesday, April 10th. Finally, Wells Fargo & Company increased their price objective on Equitable from $43.00 to $46.00 and gave the company an “overweight” rating in a research report on Thursday, April 11th. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, Equitable has an average rating of “Moderate Buy” and a consensus target price of $40.10.

Equitable 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.