EverSource Wealth Advisors LLC Increases Holdings in Equitable Holdings, Inc. (NYSE:EQH)

EverSource Wealth Advisors LLC grew its holdings in shares of Equitable Holdings, Inc. (NYSE:EQH) by 141.4% in the first quarter, Holdings Channel reports. The institutional investor owned 2,605 shares of the company’s stock after purchasing an additional 1,526 shares during the period. EverSource Wealth Advisors LLC’s holdings in Equitable were worth $96,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the business. iA Global Asset Management Inc. lifted its holdings in Equitable by 4.8% during the 1st quarter. iA Global Asset Management Inc. now owns 6,132 shares of the company’s stock worth $233,000 after buying an additional 280 shares during the last quarter. Nomura Asset Management Co. Ltd. lifted its holdings in shares of Equitable by 0.4% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 88,548 shares of the company’s stock valued at $2,949,000 after purchasing an additional 329 shares during the last quarter. TCW Group Inc. lifted its holdings in shares of Equitable by 0.5% in the 4th quarter. TCW Group Inc. now owns 71,986 shares of the company’s stock valued at $2,397,000 after purchasing an additional 371 shares during the last quarter. GAMMA Investing LLC lifted its holdings in shares of Equitable by 26.4% in the 1st quarter. GAMMA Investing LLC now owns 1,939 shares of the company’s stock valued at $74,000 after purchasing an additional 405 shares during the last quarter. Finally, US Bancorp DE lifted its holdings in shares of Equitable by 4.4% in the 1st quarter. US Bancorp DE now owns 10,068 shares of the company’s stock valued at $383,000 after purchasing an additional 423 shares during the last quarter. 92.70% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Equitable

In other news, COO Jeffrey J. Hurd sold 9,969 shares of the firm’s stock in a transaction on Monday, July 15th. The stock was sold at an average price of $43.09, for a total transaction of $429,564.21. Following the sale, the chief operating officer now owns 111,552 shares in the company, valued at $4,806,775.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.10% of the company’s stock.

Analysts Set New Price Targets

EQH has been the subject of several research reports. Evercore ISI boosted their target price on Equitable from $42.00 to $46.00 and gave the company an “outperform” rating in a report on Thursday, April 11th. Truist Financial increased their price objective on Equitable from $44.00 to $52.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Citigroup increased their price objective on Equitable from $41.00 to $53.00 and gave the stock a “buy” rating in a research report on Tuesday, July 23rd. Keefe, Bruyette & Woods increased their target price on Equitable from $43.00 to $44.00 and gave the stock a “market perform” rating in a research note on Monday, July 8th. Finally, Jefferies Financial Group increased their target price on Equitable from $46.00 to $51.00 and gave the stock a “buy” rating in a research note on Friday, June 28th. Four investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, Equitable currently has a consensus rating of “Moderate Buy” and an average target price of $44.18.

Equitable Price Performance

Equitable stock traded up $0.99 during mid-day trading on Tuesday, hitting $38.04. 1,123,515 shares of the company were exchanged, compared to its average volume of 2,645,906. The business’s 50 day simple moving average is $41.18 and its two-hundred day simple moving average is $37.94. The company has a market capitalization of $12.37 billion, a P/E ratio of 11.73 and a beta of 1.43. Equitable Holdings, Inc. has a 12-month low of $24.65 and a 12-month high of $44.50.

Equitable (NYSE:EQH) last released its quarterly earnings results on Tuesday, July 30th. The company reported $1.43 earnings per share for the quarter, topping the consensus estimate of $1.40 by $0.03. The company had revenue of $3.51 billion for the quarter, compared to analysts’ expectations of $3.71 billion. The business’s quarterly revenue was up 47.7% on a year-over-year basis. During the same period in the previous year, the business posted $1.17 EPS. Equities research analysts predict that Equitable Holdings, Inc. will post 6.05 earnings per share for the current 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 dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 2.52%. The ex-dividend date is Tuesday, August 6th. Equitable’s dividend payout ratio (DPR) is 29.72%.

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.