AXQ Capital LP Makes New $361,000 Investment in Equitable Holdings, Inc. (NYSE:EQH)

AXQ Capital LP bought a new position in shares of Equitable Holdings, Inc. (NYSE:EQH - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 7,650 shares of the company's stock, valued at approximately $361,000.

Other hedge funds have also added to or reduced their stakes in the company. Versant Capital Management Inc boosted its holdings in Equitable by 195.6% in the 4th quarter. Versant Capital Management Inc now owns 532 shares of the company's stock valued at $25,000 after purchasing an additional 352 shares during the period. Assetmark Inc. grew its position in Equitable by 33.2% during the fourth quarter. Assetmark Inc. now owns 799 shares of the company's stock worth $38,000 after buying an additional 199 shares in the last quarter. MassMutual Private Wealth & Trust FSB increased its stake in Equitable by 298.3% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 1,689 shares of the company's stock worth $80,000 after acquiring an additional 1,265 shares during the period. Smartleaf Asset Management LLC raised its holdings in Equitable by 31.5% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,707 shares of the company's stock valued at $80,000 after acquiring an additional 409 shares in the last quarter. Finally, Principal Securities Inc. lifted its position in shares of Equitable by 82.7% during the 4th quarter. Principal Securities Inc. now owns 1,805 shares of the company's stock valued at $85,000 after acquiring an additional 817 shares during the period. 92.70% of the stock is owned by institutional investors and hedge funds.

Equitable Price Performance

Shares of NYSE:EQH traded down $0.21 during trading on Wednesday, hitting $54.09. 1,621,393 shares of the company were exchanged, compared to its average volume of 2,438,443. The company has a quick ratio of 0.12, a current ratio of 0.07 and a debt-to-equity ratio of 3.07. Equitable Holdings, Inc. has a 1-year low of $35.49 and a 1-year high of $56.00. The company has a market capitalization of $16.65 billion, a P/E ratio of 14.16 and a beta of 1.39. The business's 50 day moving average is $52.98 and its 200-day moving average is $48.23.

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

Equitable Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 12th. Investors of record on Wednesday, March 5th were given a dividend of $0.24 per share. The ex-dividend date was Wednesday, March 5th. This represents a $0.96 annualized dividend and a yield of 1.77%. Equitable's dividend payout ratio is presently 25.13%.

Insiders Place Their Bets

In other news, COO Jeffrey J. Hurd sold 6,666 shares of the firm's stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $54.65, for a total transaction of $364,296.90. Following the completion of the transaction, the chief operating officer now directly owns 92,209 shares in the company, valued at $5,039,221.85. This trade represents a 6.74 % 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, insider Nick Lane sold 5,000 shares of the company's stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $51.12, for a total value of $255,600.00. Following the completion of the sale, the insider now owns 139,073 shares in the company, valued at $7,109,411.76. The trade was a 3.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 103,332 shares of company stock valued at $5,364,610 in the last ninety days. 1.10% of the stock is currently owned by insiders.

Analyst Ratings Changes

EQH has been the topic of a number of recent analyst reports. Wells Fargo & Company raised their price target on Equitable from $61.00 to $62.00 and gave the stock an "overweight" rating in a research report on Tuesday, February 25th. Truist Financial raised their target price on shares of Equitable from $52.00 to $60.00 and gave the company a "buy" rating in a report on Monday, February 10th. BMO Capital Markets upped their price target on shares of Equitable from $69.00 to $72.00 and gave the stock an "outperform" rating in a report on Tuesday, February 25th. Barclays lifted their price objective on shares of Equitable from $60.00 to $61.00 and gave the company an "overweight" rating in a research note on Monday, January 6th. Finally, Keefe, Bruyette & Woods upped their target price on Equitable from $62.00 to $66.00 and gave the stock an "outperform" rating in a research note on Friday, February 28th. Two research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $57.75.

About Equitable

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.