Jessup Wealth Management Inc Lowers Stock Holdings in Equitable Holdings, Inc. (NYSE:EQH)

Jessup Wealth Management Inc lessened its stake in Equitable Holdings, Inc. (NYSE:EQH - Free Report) by 6.4% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 123,389 shares of the company's stock after selling 8,476 shares during the quarter. Equitable accounts for about 2.5% of Jessup Wealth Management Inc's portfolio, making the stock its 16th largest holding. Jessup Wealth Management Inc's holdings in Equitable were worth $5,820,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Versant Capital Management Inc increased its stake in shares of 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 in the last quarter. Covestor Ltd increased its stake in shares of Equitable by 61.5% in the 3rd quarter. Covestor Ltd now owns 646 shares of the company's stock valued at $27,000 after purchasing an additional 246 shares in the last quarter. MassMutual Private Wealth & Trust FSB increased its stake in shares of Equitable by 298.3% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 1,689 shares of the company's stock valued at $80,000 after purchasing an additional 1,265 shares in the last quarter. Principal Securities Inc. increased its stake in shares of Equitable by 82.7% in the 4th quarter. Principal Securities Inc. now owns 1,805 shares of the company's stock valued at $85,000 after purchasing an additional 817 shares in the last quarter. Finally, UMB Bank n.a. increased its stake in shares of Equitable by 26.1% in the 4th quarter. UMB Bank n.a. now owns 1,954 shares of the company's stock valued at $92,000 after purchasing an additional 404 shares in the last quarter. Institutional investors and hedge funds own 92.70% of the company's stock.

Insider Activity at Equitable

In related news, COO Jeffrey J. Hurd sold 6,666 shares of the stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $47.31, for a total value of $315,368.46. Following the completion of the transaction, the chief operating officer now directly owns 98,875 shares in the company, valued at approximately $4,677,776.25. This represents a 6.32 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO William James Iv Eckert sold 1,700 shares of the stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $46.68, for a total value of $79,356.00. Following the completion of the transaction, the chief accounting officer now owns 17,677 shares of the company's stock, valued at $825,162.36. The trade was a 8.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 131,698 shares of company stock valued at $6,534,234. 1.10% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several equities analysts recently weighed in on the company. Morgan Stanley lifted their price target on Equitable from $60.00 to $61.00 and gave the company an "overweight" rating in a research note on Friday, February 14th. Keefe, Bruyette & Woods boosted their price objective on Equitable from $58.00 to $62.00 and gave the stock an "outperform" rating in a research note on Wednesday, February 12th. Deutsche Bank Aktiengesellschaft raised Equitable from a "hold" rating to a "buy" rating and increased their target price for the company from $47.00 to $58.00 in a report on Friday, January 10th. Truist Financial increased their target price on Equitable from $52.00 to $60.00 and gave the company a "buy" rating in a report on Monday, February 10th. Finally, JPMorgan Chase & Co. increased their target price on Equitable from $45.00 to $53.00 and gave the company a "neutral" rating in a report on Tuesday, January 7th. Two research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $56.58.

Equitable Price Performance

Shares of NYSE:EQH traded down $2.61 during midday trading on Friday, hitting $51.36. The company had a trading volume of 1,214,791 shares, compared to its average volume of 2,800,891. Equitable Holdings, Inc. has a twelve month low of $32.96 and a twelve month high of $56.00. 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 stock has a market cap of $16.09 billion, a price-to-earnings ratio of 13.48 and a beta of 1.39. The business's 50-day simple moving average is $50.83 and its 200-day simple moving average is $46.15.

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

Equitable Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 12th. Investors of record on Wednesday, March 5th will be issued a $0.24 dividend. The ex-dividend date of this dividend is Wednesday, March 5th. This represents a $0.96 annualized dividend and a dividend yield of 1.87%. Equitable's dividend payout ratio is presently 25.13%.

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.