Summit Global Investments Has $6.54 Million Position in Equitable Holdings, Inc. (NYSE:EQH)

Summit Global Investments increased its stake in shares of Equitable Holdings, Inc. (NYSE:EQH) by 710.4% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 138,740 shares of the company’s stock after buying an additional 121,621 shares during the quarter. Summit Global Investments’ holdings in Equitable were worth $6,544,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the stock. Assetmark Inc. grew its position in Equitable by 33.2% during the fourth quarter. Assetmark Inc. now owns 799 shares of the company’s stock worth $38,000 after buying an additional 199 shares in the last quarter. Atomi Financial Group Inc. grew its position in Equitable by 3.3% during the fourth quarter. Atomi Financial Group Inc. now owns 6,577 shares of the company’s stock worth $310,000 after buying an additional 209 shares in the last quarter. Truist Financial Corp boosted its holdings in shares of Equitable by 2.8% in the 4th quarter. Truist Financial Corp now owns 9,554 shares of the company’s stock valued at $451,000 after purchasing an additional 257 shares in the last quarter. Jones Financial Companies Lllp boosted its holdings in shares of Equitable by 10.6% in the 4th quarter. Jones Financial Companies Lllp now owns 2,768 shares of the company’s stock valued at $131,000 after purchasing an additional 266 shares in the last quarter. Finally, Tokio Marine Asset Management Co. Ltd. boosted its holdings in shares of Equitable by 2.2% in the 4th quarter. Tokio Marine Asset Management Co. Ltd. now owns 13,380 shares of the company’s stock valued at $631,000 after purchasing an additional 283 shares in the last quarter. Institutional investors and hedge funds own 92.70% of the company’s stock.

Insider Buying and Selling

In other news, CAO William James Iv Eckert sold 1,700 shares of Equitable stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $46.68, for a total value of $79,356.00. Following the completion of the transaction, the chief accounting officer now directly owns 17,677 shares of the company’s stock, valued at approximately $825,162.36. This trade represents a 8.77 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Jeffrey J. Hurd sold 6,666 shares of Equitable stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $54.65, for a total value of $364,296.90. Following the completion of the transaction, the chief operating officer now directly owns 92,209 shares of the company’s stock, valued at approximately $5,039,221.85. This trade represents a 6.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 105,032 shares of company stock valued at $5,443,966 in the last three months. Insiders own 1.10% of the company’s stock.

Equitable Stock Up 0.2 %

Shares of NYSE:EQH opened at $52.49 on Friday. The firm has a market cap of $16.16 billion, a P/E ratio of 13.74 and a beta of 1.39. The company has a quick ratio of 0.12, a current ratio of 0.07 and a debt-to-equity ratio of 3.07. Equitable Holdings, Inc. has a 12-month low of $35.49 and a 12-month high of $56.00. The business has a fifty day simple moving average of $52.75 and a 200 day simple moving average of $47.89.

Equitable (NYSE:EQH) last announced its earnings results on Wednesday, February 5th. The company reported $1.57 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.65 by ($0.08). Equitable had a return on equity of 85.70% and a net margin of 10.51%. Analysts predict that Equitable Holdings, Inc. will post 7.33 earnings per share for the current year.

Equitable Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 12th. Investors of record on Wednesday, March 5th were given a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 1.83%. The ex-dividend date was Wednesday, March 5th. Equitable’s dividend payout ratio is currently 25.13%.

Analyst Upgrades and Downgrades

EQH has been the topic of a number of research analyst reports. Wells Fargo & Company raised their target price on Equitable from $61.00 to $62.00 and gave the company an “overweight” rating in a report on Tuesday, February 25th. Keefe, Bruyette & Woods raised their target price on Equitable from $62.00 to $66.00 and gave the company an “outperform” rating in a report on Friday, February 28th. BMO Capital Markets raised their target price on Equitable from $69.00 to $72.00 and gave the company an “outperform” rating in a report on Tuesday, February 25th. Morgan Stanley raised their target price on Equitable from $66.00 to $68.00 and gave the company an “overweight” rating in a report on Tuesday, March 11th. Finally, JPMorgan Chase & Co. raised their target price on Equitable from $45.00 to $53.00 and gave the company a “neutral” rating in a report on Tuesday, January 7th. Two equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $57.75.

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.