Miracle Mile Advisors LLC Takes Position in Equitable Holdings, Inc. (NYSE:EQH)

Miracle Mile Advisors LLC bought a new position in shares of Equitable Holdings, Inc. (NYSE:EQH) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm bought 6,248 shares of the company’s stock, valued at approximately $295,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Wedmont Private Capital acquired a new stake in shares of Equitable during the fourth quarter worth approximately $201,000. Diversified Trust Co increased its holdings in Equitable by 29.4% during the 4th quarter. Diversified Trust Co now owns 27,896 shares of the company’s stock valued at $1,316,000 after purchasing an additional 6,336 shares in the last quarter. Nordea Investment Management AB raised its position in Equitable by 700.3% in the 4th quarter. Nordea Investment Management AB now owns 1,563,172 shares of the company’s stock valued at $74,126,000 after purchasing an additional 1,367,837 shares during the last quarter. Everence Capital Management Inc. acquired a new position in Equitable in the fourth quarter worth $458,000. Finally, GAMMA Investing LLC grew its holdings in shares of Equitable by 12.8% during the fourth quarter. GAMMA Investing LLC now owns 8,410 shares of the company’s stock worth $397,000 after purchasing an additional 957 shares during the last quarter. 92.70% of the stock is owned by institutional investors.

Equitable Stock Down 0.2 %

Shares of Equitable stock opened at $51.48 on Friday. Equitable Holdings, Inc. has a 12 month low of $31.76 and a 12 month high of $52.04. The business has a fifty day simple moving average of $47.71 and a 200 day simple moving average of $44.05. The company has a quick ratio of 0.12, a current ratio of 0.12 and a debt-to-equity ratio of 1.63. The stock has a market cap of $16.13 billion, a PE ratio of -47.23 and a beta of 1.39.

Equitable (NYSE:EQH) last announced its quarterly earnings results on Monday, November 4th. The company reported $1.53 EPS for the quarter, meeting analysts’ consensus estimates 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 positive return on equity of 76.47% and a negative net margin of 2.64%. Equitable’s revenue was down 15.1% on a year-over-year basis. During the same period in the prior year, the business posted $1.15 EPS. Research analysts predict that Equitable Holdings, Inc. will post 6.04 EPS for the current year.

Equitable Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 3rd. Shareholders of record on Tuesday, November 26th were issued a $0.24 dividend. The ex-dividend date was Tuesday, November 26th. This represents a $0.96 annualized dividend and a yield of 1.86%. Equitable’s dividend payout ratio (DPR) is presently -88.07%.

Wall Street Analyst Weigh In

EQH has been the subject of a number of research analyst reports. JPMorgan Chase & Co. lifted their price target on Equitable from $45.00 to $53.00 and gave the company a “neutral” rating in a report on Tuesday, January 7th. Wells Fargo & Company decreased their price target on shares of Equitable from $54.00 to $53.00 and set an “overweight” rating on the stock in a research note on Tuesday. Keefe, Bruyette & Woods upgraded shares of Equitable from a “market perform” rating to an “outperform” rating and boosted their price objective for the stock from $54.00 to $58.00 in a research report on Monday, December 9th. Deutsche Bank Aktiengesellschaft upgraded Equitable from a “hold” rating to a “buy” rating and increased their price objective for the company from $47.00 to $58.00 in a research report on Friday, January 10th. Finally, Barclays boosted their target price on Equitable from $60.00 to $61.00 and gave the stock an “overweight” rating in a research report on Monday, January 6th. Two investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Equitable has a consensus rating of “Moderate Buy” and an average price target of $52.18.

Insider Transactions at Equitable

In other Equitable news, CEO Mark Pearson sold 30,000 shares of the stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $47.31, for a total value of $1,419,300.00. Following the completion of the sale, the chief executive officer now directly owns 639,939 shares in the company, valued at $30,275,514.09. This represents a 4.48 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Jeffrey J. Hurd sold 6,666 shares of Equitable stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $47.53, for a total value of $316,834.98. Following the transaction, the chief operating officer now owns 105,246 shares in the company, valued at $5,002,342.38. This trade represents a 5.96 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 161,698 shares of company stock valued at $7,904,806 over the last three months. 1.10% of the stock is currently owned by corporate insiders.

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.