Harvest Fund Management Co. Ltd Takes Position in Equitable Holdings, Inc. (NYSE:EQH)

Harvest Fund Management Co. Ltd acquired a new stake in Equitable Holdings, Inc. (NYSE:EQH) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 1,925 shares of the company’s stock, valued at approximately $64,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of EQH. Lindbrook Capital LLC grew its position in shares of Equitable by 143.1% in the 4th quarter. Lindbrook Capital LLC now owns 1,004 shares of the company’s stock valued at $33,000 after acquiring an additional 591 shares during the period. Blue Trust Inc. boosted its holdings in shares of Equitable by 126.2% during the 4th quarter. Blue Trust Inc. now owns 1,262 shares of the company’s stock worth $42,000 after buying an additional 704 shares during the period. GAMMA Investing LLC bought a new stake in shares of Equitable during the 4th quarter worth about $50,000. UMB Bank n.a. boosted its holdings in shares of Equitable by 128.3% during the 3rd quarter. UMB Bank n.a. now owns 1,840 shares of the company’s stock worth $52,000 after buying an additional 1,034 shares during the period. Finally, Cary Street Partners Investment Advisory LLC bought a new stake in shares of Equitable during the 3rd quarter worth about $67,000. Institutional investors own 92.70% of the company’s stock.

Equitable Price Performance

EQH stock opened at $37.13 on Friday. The company has a 50 day simple moving average of $35.79 and a 200 day simple moving average of $32.52. The stock has a market cap of $12.16 billion, a price-to-earnings ratio of 10.99 and a beta of 1.42. Equitable Holdings, Inc. has a 1 year low of $21.89 and a 1 year high of $38.44.

Equitable (NYSE:EQH) last released its quarterly earnings data on Tuesday, February 6th. The company reported $1.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.17 by $0.16. The company had revenue of $3.55 billion for the quarter, compared to analyst estimates of $3.50 billion. On average, equities research analysts anticipate that Equitable Holdings, Inc. will post 6.01 EPS for the current fiscal year.

Equitable Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 4th. Shareholders of record on Monday, February 26th were issued a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 2.37%. The ex-dividend date was Friday, February 23rd. Equitable’s payout ratio is 26.04%.

Insiders Place Their Bets

In other Equitable news, COO Jeffrey J. Hurd sold 9,969 shares of the business’s stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $36.24, for a total transaction of $361,276.56. Following the sale, the chief operating officer now directly owns 141,062 shares of the company’s stock, valued at approximately $5,112,086.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider Nick Lane sold 20,000 shares of the company’s stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $34.02, for a total value of $680,400.00. Following the sale, the insider now directly owns 144,132 shares of the company’s stock, valued at approximately $4,903,370.64. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, COO Jeffrey J. Hurd sold 9,969 shares of the company’s stock in a transaction on Monday, April 15th. The shares were sold at an average price of $36.24, for a total transaction of $361,276.56. Following the completion of the sale, the chief operating officer now directly owns 141,062 shares in the company, valued at $5,112,086.88. The disclosure for this sale can be found here. Insiders have sold 241,907 shares of company stock valued at $8,338,649 in the last ninety days. 1.02% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several brokerages recently commented on EQH. Jefferies Financial Group lifted their target price on shares of Equitable from $42.00 to $45.00 and gave the stock a “buy” rating in a report on Friday, March 22nd. UBS Group lifted their target price on shares of Equitable from $34.00 to $40.00 and gave the stock a “buy” rating in a report on Wednesday, January 10th. JPMorgan Chase & Co. downgraded shares of Equitable from an “overweight” rating to a “neutral” rating and lifted their target price for the stock from $35.00 to $36.00 in a report on Wednesday, January 3rd. Wells Fargo & Company lifted their target price on shares of Equitable from $43.00 to $46.00 and gave the stock an “overweight” rating in a report on Thursday, April 11th. Finally, Morgan Stanley lifted their price objective on shares of Equitable from $39.00 to $41.00 and gave the stock an “overweight” rating in a research note on Monday, April 15th. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $39.67.

Equitable Profile

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.