Allstate Corp Purchases Shares of 9,130 Equitable Holdings, Inc. (NYSE:EQH)

Allstate Corp bought a new position in Equitable Holdings, Inc. (NYSE:EQH) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 9,130 shares of the company’s stock, valued at approximately $431,000.

Other hedge funds also recently made changes to their positions in the company. Norges Bank purchased a new position in shares of Equitable in the 4th quarter worth $668,250,000. State Street Corp raised its holdings in shares of Equitable by 2.7% in the 3rd quarter. State Street Corp now owns 12,976,870 shares of the company’s stock worth $545,418,000 after purchasing an additional 338,205 shares during the period. Wellington Management Group LLP raised its holdings in shares of Equitable by 3.0% in the 3rd quarter. Wellington Management Group LLP now owns 5,513,571 shares of the company’s stock worth $231,735,000 after purchasing an additional 161,376 shares during the period. Amundi lifted its stake in shares of Equitable by 56.3% in the 4th quarter. Amundi now owns 2,659,691 shares of the company’s stock valued at $130,351,000 after purchasing an additional 957,828 shares in the last quarter. Finally, Principal Financial Group Inc. grew its holdings in shares of Equitable by 20.7% during the 4th quarter. Principal Financial Group Inc. now owns 2,554,890 shares of the company’s stock worth $120,529,000 after purchasing an additional 437,322 shares during the period. Institutional investors and hedge funds own 92.70% of the company’s stock.

Insider Activity at Equitable

In related news, insider Nick Lane sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $51.12, for a total transaction of $255,600.00. Following the completion of the transaction, the insider now owns 139,073 shares in the company, valued at $7,109,411.76. The trade was a 3.47 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Mark Pearson sold 30,000 shares of the firm’s stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $51.65, for a total value of $1,549,500.00. Following the completion of the sale, the chief executive officer now owns 629,939 shares in the company, valued at $32,536,349.35. The trade was a 4.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 103,332 shares of company stock valued at $5,364,610 in the last quarter. Insiders own 1.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on EQH. 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 research report on Monday, February 10th. BMO Capital Markets raised their target price on shares of Equitable from $69.00 to $72.00 and gave the company an “outperform” rating in a research note on Tuesday, February 25th. Barclays upped their price target on shares of Equitable from $60.00 to $61.00 and gave the stock an “overweight” rating in a research report on Monday, January 6th. Morgan Stanley boosted their price objective on Equitable from $66.00 to $68.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 11th. Finally, Keefe, Bruyette & Woods upped their target price on Equitable from $62.00 to $66.00 and gave the stock an “outperform” rating in a research report on Friday, February 28th. One investment analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $60.75.

Equitable Stock Performance

Shares of EQH opened at $54.97 on Thursday. The firm has a market cap of $16.87 billion, a price-to-earnings ratio of 14.39 and a beta of 1.39. The company has a quick ratio of 0.12, a current ratio of 0.07 and a debt-to-equity ratio of 3.07. The business’s 50 day moving average is $53.05 and its two-hundred day moving average is $48.69. Equitable Holdings, Inc. has a 52-week low of $35.49 and a 52-week high of $56.00.

Equitable (NYSE:EQH) last announced its quarterly earnings data on Wednesday, February 5th. The company reported $1.57 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.65 by ($0.08). Equitable had a net margin of 10.51% and a return on equity of 85.70%. Analysts forecast that Equitable Holdings, Inc. will post 7.33 EPS for the current fiscal year.

Equitable Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 12th. Stockholders of record on Wednesday, March 5th were issued a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 1.75%. The ex-dividend date of this dividend was Wednesday, March 5th. Equitable’s dividend payout ratio (DPR) is presently 25.13%.

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.