Allstate Corp Takes Position in Equitable Holdings, Inc. (NYSE:EQH)

Allstate Corp purchased a new stake in Equitable Holdings, Inc. (NYSE:EQH - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 9,130 shares of the company's stock, valued at approximately $431,000.

A number of other hedge funds have also added to or reduced their stakes in EQH. JPMorgan Chase & Co. boosted its holdings in Equitable by 20.3% during the third quarter. JPMorgan Chase & Co. now owns 908,653 shares of the company's stock worth $38,191,000 after purchasing an additional 153,457 shares during the last quarter. Miracle Mile Advisors LLC bought a new position in shares of Equitable during the 4th quarter worth approximately $295,000. Principal Financial Group Inc. boosted its stake in shares of Equitable by 7.5% in the 3rd quarter. Principal Financial Group Inc. now owns 2,117,568 shares of the company's stock worth $89,001,000 after buying an additional 148,180 shares during the last quarter. Vest Financial LLC grew its holdings in shares of Equitable by 11.7% in the fourth quarter. Vest Financial LLC now owns 752,091 shares of the company's stock valued at $35,476,000 after acquiring an additional 78,725 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in shares of Equitable during the fourth quarter valued at approximately $29,939,000. Institutional investors and hedge funds own 92.70% of the company's stock.

Insider Activity at Equitable

In related news, CEO Mark Pearson sold 30,000 shares of the stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $51.65, for a total transaction of $1,549,500.00. Following the transaction, the chief executive officer now owns 629,939 shares of the company's stock, valued at approximately $32,536,349.35. This trade represents a 4.55 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Jeffrey J. Hurd sold 6,666 shares of the company's stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $55.38, for a total transaction of $369,163.08. Following the sale, the chief operating officer now owns 104,298 shares of the company's stock, valued at approximately $5,776,023.24. The trade was a 6.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 103,332 shares of company stock valued at $5,364,610 over the last 90 days. 1.10% of the stock is owned by insiders.

Equitable Price Performance

EQH stock traded down $0.27 during mid-day trading on Monday, reaching $44.84. 5,522,085 shares of the company traded hands, compared to its average volume of 2,597,027. Equitable Holdings, Inc. has a 52-week low of $35.49 and a 52-week high of $56.00. The company has a market capitalization of $13.76 billion, a P/E ratio of 11.74 and a beta of 1.23. The company has a debt-to-equity ratio of 3.07, a current ratio of 0.07 and a quick ratio of 0.12. The company has a fifty day moving average price of $52.66 and a 200-day moving average price of $48.85.

Equitable (NYSE:EQH - Get Free Report) last posted its earnings results on Wednesday, February 5th. The company reported $1.57 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.65 by ($0.08). Equitable had a return on equity of 85.70% and a net margin of 10.51%. As a group, analysts anticipate that Equitable Holdings, Inc. will post 7.33 earnings per share for the current year.

Equitable Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 12th. Shareholders of record on Wednesday, March 5th were paid a $0.24 dividend. The ex-dividend date of this dividend was Wednesday, March 5th. This represents a $0.96 dividend on an annualized basis and a yield of 2.14%. Equitable's dividend payout ratio is presently 25.13%.

Analysts Set New Price Targets

A number of research analysts have issued reports on EQH shares. Wells Fargo & Company upped their price objective on Equitable from $61.00 to $62.00 and gave the company an "overweight" rating in a research note on Tuesday, February 25th. Deutsche Bank Aktiengesellschaft upgraded shares of Equitable from a "hold" rating to a "buy" rating and increased their price target for the company from $47.00 to $58.00 in a research report on Friday, January 10th. JPMorgan Chase & Co. lifted their price objective on shares of Equitable from $53.00 to $55.00 and gave the stock a "neutral" rating in a research report on Wednesday, April 2nd. BMO Capital Markets increased their target price on shares of Equitable from $69.00 to $72.00 and gave the company an "outperform" rating in a research report on Tuesday, February 25th. Finally, Barclays lifted their price target on shares of Equitable from $60.00 to $61.00 and gave the stock an "overweight" rating in a report on Monday, January 6th. One investment analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $60.75.

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.