Friedenthal Financial Invests $831,000 in Equitable Holdings, Inc. (NYSE:EQH)

Friedenthal Financial bought a new position in shares of Equitable Holdings, Inc. (NYSE:EQH) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 20,344 shares of the company’s stock, valued at approximately $831,000.

Other institutional investors have also modified their holdings of the company. Vanguard Group Inc. boosted its stake 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 valued at $1,265,815,000 after purchasing an additional 446,752 shares in the last quarter. New York State Teachers Retirement System bought a new position in shares of Equitable during the fourth quarter valued at approximately $4,425,000. Intech Investment Management LLC boosted its stake in shares of Equitable by 60.9% during the first quarter. Intech Investment Management LLC now owns 100,476 shares of the company’s stock valued at $3,819,000 after purchasing an additional 38,040 shares in the last quarter. Louisiana State Employees Retirement System bought a new position in shares of Equitable during the fourth quarter valued at approximately $2,977,000. Finally, Yousif Capital Management LLC boosted its stake in shares of Equitable by 1,739.8% during the fourth quarter. Yousif Capital Management LLC now owns 153,314 shares of the company’s stock valued at $5,105,000 after purchasing an additional 144,981 shares in the last quarter. 92.70% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, COO Jeffrey J. Hurd sold 9,969 shares of Equitable stock in a transaction that occurred on Friday, June 14th. The stock was sold at an average price of $39.62, for a total transaction of $394,971.78. Following the completion of the transaction, the chief operating officer now directly owns 121,521 shares in the company, valued at $4,814,662.02. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.10% of the stock is currently owned by corporate insiders.

Equitable Trading Up 1.3 %

Shares of NYSE:EQH traded up $0.48 on Tuesday, hitting $38.72. 1,602,060 shares of the company were exchanged, compared to its average volume of 2,639,172. Equitable Holdings, Inc. has a 1-year low of $24.65 and a 1-year high of $44.50. The stock’s 50 day moving average price is $40.84 and its 200 day moving average price is $38.15. The firm has a market capitalization of $12.59 billion, a P/E ratio of 11.99 and a beta of 1.43.

Equitable (NYSE:EQH) last posted its quarterly earnings data on Tuesday, July 30th. The company reported $1.43 EPS for the quarter, topping the consensus estimate of $1.40 by $0.03. The company had revenue of $3.51 billion for the quarter, compared to analyst estimates of $3.71 billion. During the same quarter in the previous year, the firm posted $1.17 earnings per share. The company’s quarterly revenue was up 47.7% on a year-over-year basis. On average, equities analysts predict that Equitable Holdings, Inc. will post 6.05 EPS for the current fiscal year.

Equitable Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, August 13th. Investors of record on Tuesday, August 6th will be issued a dividend of $0.24 per share. The ex-dividend date is Tuesday, August 6th. This represents a $0.96 annualized dividend and a dividend yield of 2.48%. Equitable’s dividend payout ratio (DPR) is presently 29.72%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the stock. Morgan Stanley increased their price objective on shares of Equitable from $44.00 to $46.00 and gave the company an “overweight” rating in a research note on Wednesday, July 10th. JPMorgan Chase & Co. raised their target price on shares of Equitable from $36.00 to $45.00 and gave the company a “neutral” rating in a research note on Tuesday, July 2nd. UBS Group downgraded shares of Equitable from a “buy” rating to a “neutral” rating and raised their target price for the company from $40.00 to $43.00 in a research note on Tuesday, June 18th. Truist Financial raised their target price on shares of Equitable from $44.00 to $52.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Finally, Citigroup raised their target price on shares of Equitable from $41.00 to $53.00 and gave the company a “buy” rating in a research note 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 stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $44.09.

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.