CIBC Asset Management Inc Has $494,000 Holdings in Equitable Holdings, Inc. (NYSE:EQH)

CIBC Asset Management Inc boosted its stake in Equitable Holdings, Inc. (NYSE:EQH) by 5.2% during the 3rd quarter, HoldingsChannel reports. The fund owned 11,765 shares of the company’s stock after acquiring an additional 584 shares during the quarter. CIBC Asset Management Inc’s holdings in Equitable were worth $494,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in EQH. Covestor Ltd increased its position in shares of Equitable by 61.5% during the 3rd quarter. Covestor Ltd now owns 646 shares of the company’s stock worth $27,000 after purchasing an additional 246 shares during the last quarter. &PARTNERS increased its holdings in Equitable by 0.7% during the second quarter. &PARTNERS now owns 34,328 shares of the company’s stock worth $1,403,000 after buying an additional 254 shares during the last quarter. iA Global Asset Management Inc. raised its position in Equitable by 4.8% during the first quarter. iA Global Asset Management Inc. now owns 6,132 shares of the company’s stock worth $233,000 after acquiring an additional 280 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its stake in Equitable by 5.1% in the third quarter. Allspring Global Investments Holdings LLC now owns 6,852 shares of the company’s stock valued at $288,000 after acquiring an additional 332 shares during the last quarter. Finally, US Bancorp DE grew its position in shares of Equitable by 4.4% in the 1st quarter. US Bancorp DE now owns 10,068 shares of the company’s stock valued at $383,000 after acquiring an additional 423 shares during the period. 92.70% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Equitable

In other news, CEO Mark Pearson sold 30,000 shares of the business’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $40.78, for a total transaction of $1,223,400.00. Following the sale, the chief executive officer now directly owns 668,555 shares in the company, valued at approximately $27,263,672.90. The trade was a 4.29 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CAO William James Iv Eckert sold 3,500 shares of the firm’s stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $42.42, for a total transaction of $148,470.00. Following the completion of the transaction, the chief accounting officer now owns 19,321 shares of the company’s stock, valued at approximately $819,596.82. This trade represents a 15.34 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 130,166 shares of company stock valued at $5,709,605 over the last ninety days. 1.10% of the stock is owned by corporate insiders.

Equitable Stock Up 0.1 %

Shares of NYSE EQH opened at $46.80 on Friday. Equitable Holdings, Inc. has a 52 week low of $28.19 and a 52 week high of $50.51. The stock’s fifty day moving average is $44.57 and its 200 day moving average is $42.06. The company has a debt-to-equity ratio of 1.63, a quick ratio of 0.12 and a current ratio of 0.12. The stock has a market capitalization of $14.66 billion, a P/E ratio of -42.94 and a beta of 1.40.

Equitable (NYSE:EQH) last issued its earnings results on Monday, November 4th. The company reported $1.53 EPS for the quarter, meeting the consensus estimate of $1.53. The company had revenue of $3.08 billion during the quarter, compared to analysts’ expectations of $3.78 billion. Equitable had a negative net margin of 2.64% and a positive return on equity of 76.47%. The business’s revenue for the quarter was down 15.1% compared to the same quarter last year. During the same period in the previous year, the company earned $1.15 EPS. Sell-side analysts forecast that Equitable Holdings, Inc. will post 6.03 earnings per share for the current fiscal year.

Equitable Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 3rd. Investors of record on Tuesday, November 26th will be given a dividend of $0.24 per share. The ex-dividend date of this dividend is Tuesday, November 26th. This represents a $0.96 annualized dividend and a dividend yield of 2.05%. Equitable’s dividend payout ratio is currently -88.07%.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Truist Financial upped their target price on shares of Equitable from $44.00 to $52.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Morgan Stanley cut their price objective on Equitable from $48.00 to $46.00 and set an “overweight” rating for the company in a research report on Monday, August 19th. Barclays increased their price target on Equitable from $59.00 to $60.00 and gave the company an “overweight” rating in a research note on Tuesday, October 8th. Finally, Wells Fargo & Company lifted their target price on shares of Equitable from $43.00 to $47.00 and gave the stock an “overweight” rating in a report on Thursday, October 10th. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $48.70.

Equitable Company 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.