Canada Pension Plan Investment Board lessened its stake in shares of Equitable Holdings, Inc. (NYSE:EQH) by 0.1% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 17,999,904 shares of the company’s stock after selling 13,945 shares during the quarter. Equitable comprises about 0.8% of Canada Pension Plan Investment Board’s investment portfolio, making the stock its 26th biggest position. Canada Pension Plan Investment Board owned about 4.20% of Equitable worth $587,157,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in EQH. Ellevest Inc. purchased a new position in Equitable in the 1st quarter valued at about $48,000. Eaton Vance Management purchased a new position in shares of Equitable during the 1st quarter worth $66,000. Pinebridge Investments L.P. acquired a new stake in shares of Equitable during the first quarter worth $92,000. Metropolitan Life Insurance Co NY increased its stake in shares of Equitable by 18.5% during the 1st quarter. Metropolitan Life Insurance Co NY now owns 5,765 shares of the company’s stock valued at $116,000 after acquiring an additional 898 shares during the last quarter. Finally, Captrust Financial Advisors acquired a new stake in shares of Equitable in the first quarter worth approximately $121,000. 90.74% of the stock is owned by institutional investors.
EQH traded down $0.72 on Thursday, reaching $29.37. The company’s stock had a trading volume of 59,330 shares, compared to its average volume of 2,816,936. Equitable Holdings, Inc. has a 1 year low of $17.33 and a 1 year high of $35.46. The firm has a 50 day moving average of $31.00. The firm has a market cap of $12.58 billion, a PE ratio of -14.89 and a beta of 1.67.
The business also recently announced a quarterly dividend, which was paid on Monday, June 7th. Stockholders of record on Monday, May 31st were given a $0.18 dividend. The ex-dividend date of this dividend was Thursday, May 27th. This represents a $0.72 annualized dividend and a dividend yield of 2.45%. This is an increase from Equitable’s previous quarterly dividend of $0.17. Equitable’s payout ratio is presently 14.43%.
In other Equitable news, Director Bertram L. Scott sold 3,400 shares of the stock in a transaction that occurred on Thursday, July 15th. The stock was sold at an average price of $28.95, for a total transaction of $98,430.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 0.15% of the company’s stock.
Several equities research analysts have commented on EQH shares. JPMorgan Chase & Co. upped their price target on Equitable from $27.00 to $32.00 and gave the stock a “neutral” rating in a research note on Monday, April 5th. Truist boosted their price objective on shares of Equitable from $37.00 to $43.00 in a research note on Tuesday, May 11th. Truist Securities raised their target price on shares of Equitable from $37.00 to $43.00 in a research note on Tuesday, May 11th. Zacks Investment Research upgraded shares of Equitable from a “hold” rating to a “buy” rating and set a $32.00 target price on the stock in a report on Monday. Finally, UBS Group assumed coverage on Equitable in a research report on Monday, April 26th. They issued a “buy” rating and a $44.00 price objective on the stock. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $38.42.
Equitable Holdings, Inc, together with its consolidated subsidiaries, operates as a diversified financial services company worldwide. The company 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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