American International Group Inc. Boosts Position in Equitable Holdings, Inc. (NYSE:EQH)

American International Group Inc. boosted its position in Equitable Holdings, Inc. (NYSE:EQH) by 6,869.6% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 433,020 shares of the company’s stock after purchasing an additional 426,807 shares during the period. American International Group Inc.’s holdings in Equitable were worth $14,420,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in EQH. Lindbrook Capital LLC boosted its holdings in shares of Equitable by 143.1% in the fourth quarter. Lindbrook Capital LLC now owns 1,004 shares of the company’s stock worth $33,000 after buying an additional 591 shares during the last quarter. Blue Trust Inc. grew its holdings in Equitable by 126.2% during the fourth quarter. Blue Trust Inc. now owns 1,262 shares of the company’s stock valued at $42,000 after purchasing an additional 704 shares during the period. GAMMA Investing LLC purchased a new stake in Equitable in the fourth quarter worth about $50,000. Harvest Fund Management Co. Ltd bought a new position in shares of Equitable in the fourth quarter worth about $64,000. Finally, Cary Street Partners Investment Advisory LLC purchased a new position in shares of Equitable during the 3rd quarter valued at about $67,000. 92.70% of the stock is currently owned by institutional investors.

Equitable Price Performance

Shares of EQH stock traded down $0.63 during trading hours on Friday, hitting $39.68. The stock had a trading volume of 2,301,563 shares, compared to its average volume of 2,674,731. The stock has a market capitalization of $12.91 billion, a price-to-earnings ratio of 12.28 and a beta of 1.41. Equitable Holdings, Inc. has a one year low of $24.65 and a one year high of $41.64. The stock’s 50-day moving average price is $39.09 and its two-hundred day moving average price is $35.73.

Equitable (NYSE:EQH) last released its quarterly earnings results on Tuesday, April 30th. The company reported $1.43 earnings per share for the quarter, beating the consensus estimate of $1.31 by $0.12. The firm had revenue of $2.23 billion for the quarter, compared to analysts’ expectations of $3.59 billion. The business’s quarterly revenue was down 5.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.96 EPS. As a group, equities research analysts predict that Equitable Holdings, Inc. will post 6.12 earnings per share for the current fiscal year.

Equitable Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 10th. Investors of record on Monday, June 3rd were paid a dividend of $0.24 per share. This is an increase from Equitable’s previous quarterly dividend of $0.22. The ex-dividend date was Monday, June 3rd. This represents a $0.96 dividend on an annualized basis and a yield of 2.42%. Equitable’s dividend payout ratio is presently 29.72%.

Wall Street Analysts Forecast Growth

A number of research firms have commented on EQH. Wells Fargo & Company decreased their target price on shares of Equitable from $46.00 to $44.00 and set an “overweight” rating on the stock in a research note on Friday, May 10th. Jefferies Financial Group raised their price objective 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. Morgan Stanley upped their target price on shares of Equitable from $39.00 to $41.00 and gave the stock an “overweight” rating in a report on Monday, April 15th. Evercore ISI raised their price target on Equitable from $42.00 to $46.00 and gave the company an “outperform” rating in a report on Thursday, April 11th. Finally, Truist Financial upped their price objective on Equitable from $40.00 to $44.00 and gave the stock a “buy” rating in a research note on Thursday, May 2nd. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $40.10.

Insider Buying and Selling at Equitable

In related news, insider Seth P. Bernstein sold 152,473 shares of Equitable stock in a transaction dated Thursday, May 2nd. The stock was sold at an average price of $38.06, for a total value of $5,803,122.38. Following the completion of the transaction, the insider now owns 88,660 shares in the company, valued at $3,374,399.60. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, insider Seth P. Bernstein sold 152,473 shares of the firm’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 value of $5,803,122.38. Following the completion of the sale, the insider now directly owns 88,660 shares of the company’s stock, valued at approximately $3,374,399.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Bertram L. Scott sold 7,000 shares of the business’s stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $35.29, for a total value of $247,030.00. Following the transaction, the director now directly owns 20,902 shares in the company, valued at approximately $737,631.58. The disclosure for this sale can be found here. Insiders sold 229,442 shares of company stock worth $8,628,429 over the last 90 days. 1.10% of the stock is owned by insiders.

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.