GAMMA Investing LLC Has $272,000 Stock Position in Equitable Holdings, Inc. (NYSE:EQH)

GAMMA Investing LLC boosted its holdings in Equitable Holdings, Inc. (NYSE:EQH) by 243.3% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,657 shares of the company’s stock after buying an additional 4,718 shares during the quarter. GAMMA Investing LLC’s holdings in Equitable were worth $272,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. grew its holdings in shares of Equitable by 1.2% during the fourth quarter. Vanguard Group Inc. now owns 38,012,452 shares of the company’s stock worth $1,265,815,000 after purchasing an additional 446,752 shares during the last quarter. Canada Pension Plan Investment Board raised its stake in shares of Equitable by 3.5% during the first quarter. Canada Pension Plan Investment Board now owns 18,804,685 shares of the company’s stock valued at $714,766,000 after acquiring an additional 637,916 shares during the last quarter. Norges Bank acquired a new position in Equitable during the 4th quarter worth about $606,630,000. Hsbc Holdings PLC grew its position in shares of Equitable by 1,161.7% in the 4th quarter. Hsbc Holdings PLC now owns 7,849,706 shares of the company’s stock valued at $262,692,000 after buying an additional 7,227,568 shares during the last quarter. Finally, First Trust Advisors LP lifted its stake in shares of Equitable by 0.3% in the fourth quarter. First Trust Advisors LP now owns 6,232,821 shares of the company’s stock worth $207,553,000 after acquiring an additional 18,475 shares during the period. Institutional investors own 92.70% of the company’s stock.

Equitable Stock Down 5.4 %

NYSE:EQH traded down $2.13 during trading hours on Monday, hitting $37.05. 3,207,392 shares of the company traded hands, compared to its average volume of 2,656,123. The company has a market cap of $12.05 billion, a PE ratio of 12.13 and a beta of 1.43. The firm’s 50-day simple moving average is $41.26 and its 200-day simple moving average is $37.91. Equitable Holdings, Inc. has a one year low of $24.65 and a one year 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, beating analysts’ consensus estimates of $1.40 by $0.03. The firm had revenue of $3.51 billion for the quarter, compared to the consensus estimate of $3.71 billion. During the same period in the previous year, the business earned $1.17 earnings per share. The firm’s revenue for the quarter was up 47.7% on a year-over-year basis. As a group, equities research analysts expect that Equitable Holdings, Inc. will post 6.05 EPS for the current year.

Equitable Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, August 13th. Investors of record on Tuesday, August 6th will be given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.59%. The ex-dividend date is Tuesday, August 6th. Equitable’s payout ratio is 29.72%.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the stock. Truist Financial raised their price target on shares of Equitable from $44.00 to $52.00 and gave the stock a “buy” rating in a report on Thursday. UBS Group downgraded Equitable from a “buy” rating to a “neutral” rating and increased their price target for the stock from $40.00 to $43.00 in a report on Tuesday, June 18th. Jefferies Financial Group raised their price objective 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. JPMorgan Chase & Co. boosted their target price on Equitable from $36.00 to $45.00 and gave the company a “neutral” rating in a research report on Tuesday, July 2nd. Finally, Wells Fargo & Company cut their price target on Equitable from $46.00 to $44.00 and set an “overweight” rating on the stock in a report on Friday, May 10th. Four analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $44.18.

Insider Buying and Selling

In other Equitable news, COO Jeffrey J. Hurd sold 9,969 shares of the company’s stock in a transaction on Monday, July 15th. The stock was sold at an average price of $43.09, for a total value of $429,564.21. Following the completion of the transaction, the chief operating officer now owns 111,552 shares in the company, valued at approximately $4,806,775.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.10% of the stock is currently owned by corporate insiders.

Equitable Company 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.