Equitable Holdings, Inc. (NYSE:EQH) Stock Position Increased by Lazard Asset Management LLC

Lazard Asset Management LLC lifted its position in Equitable Holdings, Inc. (NYSE:EQH) by 0.1% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,139,280 shares of the company’s stock after buying an additional 791 shares during the period. Lazard Asset Management LLC owned approximately 0.35% of Equitable worth $43,303,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. raised its stake in shares of Equitable by 1.2% in the 4th quarter. Vanguard Group Inc. now owns 38,012,452 shares of the company’s stock worth $1,265,815,000 after buying an additional 446,752 shares in the last quarter. New York State Teachers Retirement System acquired a new stake in shares of Equitable during the fourth quarter worth $4,425,000. Pacer Advisors Inc. acquired a new stake in shares of Equitable during the fourth quarter worth $1,573,000. Intech Investment Management LLC raised its position 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 worth $3,819,000 after purchasing an additional 38,040 shares during the period. Finally, Louisiana State Employees Retirement System acquired a new stake in shares of Equitable during the fourth quarter worth $2,977,000. Institutional investors own 92.70% of the company’s stock.

Equitable Stock Performance

Shares of EQH traded up $0.71 during trading hours on Friday, hitting $43.07. 1,495,687 shares of the company were exchanged, compared to its average volume of 2,366,064. The company has a market cap of $14.01 billion, a PE ratio of 13.33 and a beta of 1.43. The firm’s 50 day moving average is $41.11 and its 200-day moving average is $37.53. Equitable Holdings, Inc. has a 52 week low of $24.65 and a 52 week high of $43.53.

Equitable (NYSE:EQH) last released its quarterly earnings results on Tuesday, April 30th. The company reported $1.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.31 by $0.12. The company had revenue of $2.23 billion for the quarter, compared to the consensus estimate of $3.59 billion. The business’s revenue was down 5.4% compared to the same quarter last year. During the same quarter last year, the company posted $0.96 EPS. As a group, equities analysts forecast that Equitable Holdings, Inc. will post 6.04 earnings per share for the current fiscal year.

Equitable Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 10th. Stockholders of record on Monday, June 3rd were paid a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 2.23%. The ex-dividend date of this dividend was Monday, June 3rd. This is an increase from Equitable’s previous quarterly dividend of $0.22. Equitable’s dividend payout ratio is 29.72%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the company. Wells Fargo & Company cut their target price on Equitable from $46.00 to $44.00 and set an “overweight” rating on the stock in a research report on Friday, May 10th. JPMorgan Chase & Co. boosted their target price on Equitable from $36.00 to $45.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 2nd. Citigroup boosted their target price on Equitable from $41.00 to $53.00 and gave the stock a “buy” rating in a research report on Tuesday, July 23rd. Jefferies Financial Group upped their price target on Equitable from $46.00 to $51.00 and gave the company a “buy” rating in a research report on Friday, June 28th. Finally, UBS Group lowered Equitable from a “buy” rating to a “neutral” rating and upped their price target for the company from $40.00 to $43.00 in a research report on Tuesday, June 18th. Four equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $43.45.

Insider Buying and Selling

In related news, insider Seth P. Bernstein sold 152,473 shares of the business’s stock in a transaction dated Thursday, May 2nd. The stock was sold at an average price of $38.06, for a total transaction of $5,803,122.38. Following the completion of the transaction, the insider now owns 88,660 shares of the company’s stock, valued at approximately $3,374,399.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, COO Jeffrey J. Hurd sold 9,969 shares of the business’s stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $43.09, for a total transaction of $429,564.21. Following the completion of the transaction, the chief operating officer now owns 111,552 shares of the company’s stock, valued at approximately $4,806,775.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Seth P. Bernstein sold 152,473 shares of the business’s stock in a transaction dated Thursday, May 2nd. The stock was sold at an average price of $38.06, for a total value of $5,803,122.38. Following the transaction, the insider now directly owns 88,660 shares of the company’s stock, valued at approximately $3,374,399.60. The disclosure for this sale can be found here. In the last 90 days, insiders sold 172,411 shares of company stock valued at $6,627,658. Insiders own 1.10% of the company’s stock.

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.