M&T Bank Corp Buys 3,605 Shares of Equitable Holdings, Inc. (NYSE:EQH)

M&T Bank Corp increased its stake in Equitable Holdings, Inc. (NYSE:EQH) by 9.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 42,323 shares of the company’s stock after acquiring an additional 3,605 shares during the period. M&T Bank Corp’s holdings in Equitable were worth $1,996,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of EQH. Wealth Enhancement Advisory Services LLC boosted its stake in shares of Equitable by 18.5% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 7,506 shares of the company’s stock valued at $315,000 after purchasing an additional 1,170 shares during the period. Summit Global Investments bought a new stake in Equitable during the 3rd quarter valued at $720,000. Covestor Ltd boosted its position in Equitable by 61.5% during the 3rd quarter. Covestor Ltd now owns 646 shares of the company’s stock valued at $27,000 after buying an additional 246 shares during the period. Los Angeles Capital Management LLC grew its holdings in Equitable by 57.7% in the 3rd quarter. Los Angeles Capital Management LLC now owns 207,446 shares of the company’s stock worth $8,719,000 after acquiring an additional 75,882 shares during the last quarter. Finally, GSA Capital Partners LLP purchased a new position in shares of Equitable in the third quarter valued at about $243,000. 92.70% of the stock is currently owned by institutional investors.

Equitable Trading Up 1.1 %

Shares of NYSE EQH opened at $50.41 on Monday. The stock has a market cap of $15.52 billion, a P/E ratio of 13.20 and a beta of 1.39. The company has a debt-to-equity ratio of 3.07, a current ratio of 0.07 and a quick ratio of 0.12. Equitable Holdings, Inc. has a 1 year low of $33.38 and a 1 year high of $56.00. The firm has a 50-day moving average of $52.13 and a 200 day moving average of $47.31.

Equitable (NYSE:EQH) last issued its quarterly earnings results on Wednesday, February 5th. The company reported $1.57 EPS for the quarter, missing analysts’ consensus estimates of $1.65 by ($0.08). Equitable had a return on equity of 85.70% and a net margin of 10.51%. As a group, sell-side analysts expect that Equitable Holdings, Inc. will post 7.33 EPS for the current fiscal year.

Equitable Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 12th. Investors of record on Wednesday, March 5th will be paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 1.90%. The ex-dividend date is Wednesday, March 5th. Equitable’s payout ratio is 25.13%.

Insider Activity at Equitable

In related news, insider Nick Lane sold 25,000 shares of the stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $45.84, for a total transaction of $1,146,000.00. Following the sale, the insider now directly owns 141,629 shares of the company’s stock, valued at $6,492,273.36. This trade represents a 15.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO William James Iv Eckert sold 1,700 shares of the company’s stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $46.68, for a total transaction of $79,356.00. Following the transaction, the chief accounting officer now owns 17,677 shares in the company, valued at $825,162.36. This represents a 8.77 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 131,698 shares of company stock valued at $6,534,234. 1.10% of the stock is owned by insiders.

Wall Street Analyst Weigh In

EQH has been the subject of a number of analyst reports. Keefe, Bruyette & Woods increased their target price on shares of Equitable from $62.00 to $66.00 and gave the stock an “outperform” rating in a report on Friday, February 28th. Barclays lifted their price objective on Equitable from $60.00 to $61.00 and gave the stock an “overweight” rating in a research report on Monday, January 6th. Wells Fargo & Company upped 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. Truist Financial lifted their price target on shares of Equitable from $52.00 to $60.00 and gave the company a “buy” rating in a report on Monday, February 10th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Equitable from $45.00 to $53.00 and gave the company a “neutral” rating in a research report on Tuesday, January 7th. Two analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $57.17.

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.