Zurcher Kantonalbank Zurich Cantonalbank Lowers Position in Equitable Holdings, Inc. (NYSE:EQH)

Zurcher Kantonalbank Zurich Cantonalbank decreased its holdings in shares of Equitable Holdings, Inc. (NYSE:EQH) by 8.3% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 562,414 shares of the company’s stock after selling 50,870 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank owned 0.17% of Equitable worth $22,980,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in EQH. Norges Bank bought a new position in shares of Equitable during the fourth quarter valued at approximately $606,630,000. Hsbc Holdings PLC increased its position in shares of Equitable by 1,161.7% during the fourth quarter. Hsbc Holdings PLC now owns 7,849,706 shares of the company’s stock valued at $262,692,000 after acquiring an additional 7,227,568 shares in the last quarter. Principal Financial Group Inc. increased its position in shares of Equitable by 1,105.3% during the fourth quarter. Principal Financial Group Inc. now owns 1,242,941 shares of the company’s stock valued at $41,390,000 after acquiring an additional 1,139,814 shares in the last quarter. Northern Trust Corp increased its position in shares of Equitable by 24.6% during the fourth quarter. Northern Trust Corp now owns 3,958,417 shares of the company’s stock valued at $131,815,000 after acquiring an additional 781,426 shares in the last quarter. Finally, Swedbank AB bought a new stake in shares of Equitable during the first quarter valued at approximately $27,237,000. Institutional investors own 92.70% of the company’s stock.

Equitable Stock Performance

Shares of Equitable stock traded up $0.44 on Friday, hitting $42.48. 334,651 shares of the company’s stock were exchanged, compared to its average volume of 2,545,422. The company has a 50-day simple moving average of $40.99 and a 200-day simple moving average of $38.73. The stock has a market capitalization of $13.82 billion, a PE ratio of 13.02 and a beta of 1.43. Equitable Holdings, Inc. has a 1 year low of $24.65 and a 1 year high of $44.50.

Equitable (NYSE:EQH) last issued 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 business had revenue of $3.51 billion for the quarter, compared to analysts’ expectations of $3.71 billion. The company’s revenue was up 47.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.17 EPS. On average, analysts expect that Equitable Holdings, Inc. will post 6.05 EPS for the current fiscal year.

Equitable Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, August 13th. Investors of record on Tuesday, August 6th were paid a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.26%. The ex-dividend date was Tuesday, August 6th. Equitable’s dividend payout ratio (DPR) is 29.72%.

Insider Activity at Equitable

In related news, COO Jeffrey J. Hurd sold 9,969 shares of Equitable 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 owns 111,552 shares in the company, valued at approximately $4,806,775.68. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 1.10% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

EQH has been the subject of several analyst reports. Wells Fargo & Company reduced their price target on shares of Equitable from $45.00 to $43.00 and set an “overweight” rating for the company in a research report on Monday, August 12th. Jefferies Financial Group lifted their target price 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. UBS Group downgraded shares of Equitable from a “buy” rating to a “neutral” rating and lifted their target price for the stock from $40.00 to $43.00 in a research report on Tuesday, June 18th. JPMorgan Chase & Co. lifted their target price on shares of Equitable from $36.00 to $45.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 2nd. Finally, Citigroup lifted their target price on shares of Equitable from $41.00 to $53.00 and gave the stock a “buy” rating in a research report on Tuesday, July 23rd. Four investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $44.09.

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.