Bayesian Capital Management LP Invests $1.30 Million in Equitable Holdings, Inc. (NYSE:EQH)

Bayesian Capital Management LP bought a new position in Equitable Holdings, Inc. (NYSE:EQH) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 34,200 shares of the company’s stock, valued at approximately $1,300,000.

Several other institutional investors and hedge funds have also recently modified their holdings of EQH. Nomura Asset Management Co. Ltd. grew its stake in Equitable by 0.4% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 88,548 shares of the company’s stock valued at $2,949,000 after acquiring an additional 329 shares in the last quarter. TCW Group Inc. grew its stake in Equitable by 0.5% during the fourth quarter. TCW Group Inc. now owns 71,986 shares of the company’s stock valued at $2,397,000 after acquiring an additional 371 shares in the last quarter. GAMMA Investing LLC grew its stake in Equitable by 26.4% during the first quarter. GAMMA Investing LLC now owns 1,939 shares of the company’s stock valued at $74,000 after acquiring an additional 405 shares in the last quarter. US Bancorp DE grew its stake in Equitable by 4.4% during the first quarter. US Bancorp DE now owns 10,068 shares of the company’s stock valued at $383,000 after acquiring an additional 423 shares in the last quarter. Finally, Acadian Asset Management LLC grew its stake in Equitable by 3.9% during the first quarter. Acadian Asset Management LLC now owns 12,915 shares of the company’s stock valued at $490,000 after acquiring an additional 488 shares in the last quarter. 92.70% of the stock is currently owned by institutional investors.

Insider Activity

In related news, insider Seth P. Bernstein sold 152,473 shares of the business’s stock in a transaction on Thursday, May 2nd. The shares were 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 directly owns 88,660 shares in the company, valued at approximately $3,374,399.60. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Equitable news, insider Seth P. Bernstein sold 152,473 shares of the company’s stock in a transaction on Thursday, May 2nd. The shares were 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 directly owns 88,660 shares in the company, valued at $3,374,399.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Jeffrey J. Hurd sold 9,969 shares of the company’s stock in a transaction on Friday, June 14th. The stock was sold at an average price of $39.62, for a total transaction of $394,971.78. Following the transaction, the chief operating officer now owns 121,521 shares of the company’s stock, valued at $4,814,662.02. The disclosure for this sale can be found here. Insiders have sold 172,411 shares of company stock valued at $6,627,658 in the last ninety days. Insiders own 1.10% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have commented on EQH. JPMorgan Chase & Co. lifted their price objective on shares of Equitable from $36.00 to $45.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 2nd. Citigroup raised their target price on shares of Equitable from $41.00 to $53.00 and gave the stock a “buy” rating in a report on Tuesday, July 23rd. Keefe, Bruyette & Woods lifted their price objective on shares of Equitable from $43.00 to $44.00 and gave the company a “market perform” rating in a report on Monday, July 8th. Wells Fargo & Company decreased their price objective on shares of Equitable from $46.00 to $44.00 and set an “overweight” rating for the company in a report on Friday, May 10th. Finally, Truist Financial lifted their price objective on shares of Equitable from $40.00 to $44.00 and gave the company a “buy” rating in a report on Thursday, May 2nd. Four investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, Equitable has a consensus rating of “Moderate Buy” and an average price target of $43.45.

Equitable Trading Up 1.2 %

NYSE:EQH opened at $43.70 on Wednesday. The company has a market cap of $14.21 billion, a PE ratio of 13.37 and a beta of 1.43. Equitable Holdings, Inc. has a twelve month low of $24.65 and a twelve month high of $44.10. The company’s 50 day moving average is $41.21 and its two-hundred day moving average is $37.71.

Equitable (NYSE:EQH) last released its quarterly earnings data on Tuesday, July 30th. The company reported $1.43 EPS for the quarter, beating the consensus estimate of $1.40 by $0.03. The business had revenue of $3.51 billion during the quarter, compared to analysts’ expectations of $3.71 billion. The firm’s revenue was up 47.7% on a year-over-year basis. During the same period last year, the company earned $1.17 earnings per share. As a group, analysts expect that Equitable Holdings, Inc. will post 6.04 EPS for the current fiscal year.

Equitable Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 13th. Stockholders of record on Tuesday, August 6th will be issued a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 2.20%. The ex-dividend date is Tuesday, August 6th. Equitable’s dividend payout ratio (DPR) is currently 29.72%.

About Equitable

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.