LRI Investments LLC Purchases Shares of 1,112 Equitable Holdings, Inc. (NYSE:EQH)

LRI Investments LLC bought a new position in Equitable Holdings, Inc. (NYSE:EQH) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 1,112 shares of the company’s stock, valued at approximately $45,000.

Other hedge funds have also recently bought and sold shares of the company. Lindbrook Capital LLC boosted its stake in shares of Equitable by 143.1% in the 4th quarter. Lindbrook Capital LLC now owns 1,004 shares of the company’s stock valued at $33,000 after purchasing an additional 591 shares in the last quarter. Blue Trust Inc. boosted its position in Equitable by 126.2% in the fourth quarter. Blue Trust Inc. now owns 1,262 shares of the company’s stock valued at $42,000 after buying an additional 704 shares in the last quarter. GAMMA Investing LLC acquired a new position in Equitable in the fourth quarter valued at about $50,000. Harvest Fund Management Co. Ltd bought a new stake in Equitable during the fourth quarter worth about $64,000. Finally, Rise Advisors LLC increased its holdings in shares of Equitable by 1,421.4% during the first quarter. Rise Advisors LLC now owns 1,704 shares of the company’s stock worth $65,000 after buying an additional 1,592 shares in the last quarter. 92.70% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity 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 shares were sold at an average price of $38.06, for a total transaction of $5,803,122.38. Following the sale, the insider now directly owns 88,660 shares of the company’s stock, valued at approximately $3,374,399.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, COO Jeffrey J. Hurd sold 9,969 shares of the business’s stock in a transaction on Monday, July 15th. The shares were sold at an average price of $43.09, for a total transaction of $429,564.21. Following the transaction, the chief operating officer now directly owns 111,552 shares in the company, valued at $4,806,775.68. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Seth P. Bernstein sold 152,473 shares of the 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 sale, the insider now owns 88,660 shares of the company’s stock, valued at approximately $3,374,399.60. The disclosure for this sale can be found here. In the last quarter, insiders have sold 172,411 shares of company stock valued at $6,627,658. 1.10% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms have commented on EQH. Truist Financial boosted 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. Jefferies Financial Group upped their price target on shares of Equitable from $46.00 to $51.00 and gave the stock a “buy” rating in a research report on Friday, June 28th. Evercore ISI raised their price objective on shares of Equitable from $42.00 to $46.00 and gave the company an “outperform” rating in a research report on Thursday, April 11th. Morgan Stanley upped their target price on shares of Equitable from $44.00 to $46.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 10th. Finally, Citigroup raised their price target on shares of Equitable from $41.00 to $53.00 and gave the company a “buy” rating in a report on Tuesday, July 23rd. Four equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Equitable currently has a consensus rating of “Moderate Buy” and a consensus target price of $43.45.

Equitable Trading Up 1.7 %

Shares of EQH stock traded up $0.71 on Friday, hitting $43.07. The stock had a trading volume of 1,495,687 shares, compared to its average volume of 2,366,064. The firm has a market cap of $14.01 billion, a P/E ratio of 13.33 and a beta of 1.43. Equitable Holdings, Inc. has a twelve month low of $24.65 and a twelve month high of $43.53. The company has a fifty day moving average price of $41.11 and a two-hundred day moving average price of $37.53.

Equitable (NYSE:EQH) last announced its quarterly earnings results on Tuesday, April 30th. The company reported $1.43 earnings per share for the quarter, beating analysts’ consensus estimates of $1.31 by $0.12. The company had revenue of $2.23 billion during the quarter, compared to the consensus estimate of $3.59 billion. During the same period in the previous year, the firm posted $0.96 EPS. The business’s quarterly revenue was down 5.4% compared to the same quarter last year. On average, analysts expect that Equitable Holdings, Inc. will post 6.04 earnings per share for the current year.

Equitable Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 10th. Shareholders of record on Monday, June 3rd were issued a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 2.23%. The ex-dividend date was Monday, June 3rd. This is a boost from Equitable’s previous quarterly dividend of $0.22. Equitable’s dividend payout ratio 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.