Level Four Advisory Services LLC grew its holdings in Equitable Holdings Inc (NYSE:EQH) by 5.9% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 12,248 shares of the company’s stock after buying an additional 677 shares during the period. Level Four Advisory Services LLC’s holdings in Equitable were worth $235,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds have also modified their holdings of EQH. Wellington Management Group LLP increased its stake in Equitable by 23.0% in the first quarter. Wellington Management Group LLP now owns 19,938,101 shares of the company’s stock valued at $288,105,000 after purchasing an additional 3,730,353 shares in the last quarter. Massachusetts Financial Services Co. MA increased its holdings in shares of Equitable by 1,476.9% in the first quarter. Massachusetts Financial Services Co. MA now owns 3,716,192 shares of the company’s stock worth $53,700,000 after acquiring an additional 3,480,529 shares in the last quarter. Clearbridge Investments LLC raised its position in shares of Equitable by 78.9% in the first quarter. Clearbridge Investments LLC now owns 3,995,212 shares of the company’s stock valued at $57,731,000 after purchasing an additional 1,762,508 shares during the period. Ensign Peak Advisors Inc lifted its stake in Equitable by 145.4% in the 2nd quarter. Ensign Peak Advisors Inc now owns 2,839,274 shares of the company’s stock valued at $54,769,000 after purchasing an additional 1,682,223 shares during the last quarter. Finally, Nuveen Asset Management LLC raised its holdings in Equitable by 25.7% during the first quarter. Nuveen Asset Management LLC now owns 7,837,468 shares of the company’s stock worth $113,252,000 after buying an additional 1,601,064 shares during the last quarter. 88.09% of the stock is currently owned by institutional investors.
Several equities analysts have recently weighed in on the stock. Zacks Investment Research cut shares of Equitable from a “buy” rating to a “hold” rating in a research note on Tuesday. TheStreet raised shares of Equitable from a “d+” rating to a “c-” rating in a research note on Tuesday, August 11th. Morgan Stanley raised their price target on Equitable from $24.00 to $25.00 and gave the stock an “overweight” rating in a research report on Thursday, August 20th. Credit Suisse Group reiterated a “buy” rating and set a $29.00 price objective on shares of Equitable in a research note on Thursday, September 3rd. Finally, Royal Bank of Canada raised shares of Equitable from a “sector perform” rating to an “outperform” rating and upped their price target for the stock from $21.00 to $28.00 in a research note on Wednesday, September 2nd. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and six have assigned a buy rating to the company’s stock. Equitable presently has a consensus rating of “Buy” and an average target price of $24.00.
Equitable (NYSE:EQH) last announced its quarterly earnings results on Tuesday, August 4th. The company reported $1.00 earnings per share for the quarter, topping the consensus estimate of $0.87 by $0.13. The company had revenue of ($2,530.00) million for the quarter, compared to analyst estimates of $3.21 billion. Equitable’s revenue for the quarter was down 180.1% on a year-over-year basis. During the same period in the prior year, the business posted $1.14 earnings per share. On average, analysts expect that Equitable Holdings Inc will post 4.35 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, August 18th. Shareholders of record on Tuesday, August 11th were paid a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 3.58%. The ex-dividend date was Monday, August 10th. Equitable’s dividend payout ratio (DPR) is 14.02%.
Equitable Holdings, Inc operates as a diversified financial services company worldwide. It operates through four segments: Individual Retirement, Group Retirement, Investment Management and Research, and Protection Solutions. The Individual Retirement segment offers a suite of variable annuity products primarily to affluent and high net worth individuals.
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