Federated Hermes Inc. Purchases 367,441 Shares of Equitable Holdings, Inc. (NYSE:EQH)

Federated Hermes Inc. raised its position in Equitable Holdings, Inc. (NYSE:EQH - Free Report) by 49.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,116,099 shares of the company's stock after acquiring an additional 367,441 shares during the quarter. Federated Hermes Inc. owned approximately 0.36% of Equitable worth $52,633,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of EQH. Norges Bank purchased a new stake in Equitable in the fourth quarter worth $668,250,000. Wellington Management Group LLP lifted its position in shares of Equitable by 59.9% in the 4th quarter. Wellington Management Group LLP now owns 8,817,020 shares of the company's stock worth $415,899,000 after purchasing an additional 3,303,449 shares during the period. Nordea Investment Management AB boosted its stake in shares of Equitable by 700.3% during 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 in the last quarter. Los Angeles Capital Management LLC increased its position in shares of Equitable by 608.1% during the fourth quarter. Los Angeles Capital Management LLC now owns 1,468,912 shares of the company's stock valued at $69,289,000 after buying an additional 1,261,466 shares during the period. Finally, Amundi lifted its position in Equitable by 56.3% during the fourth quarter. Amundi now owns 2,659,691 shares of the company's stock valued at $130,351,000 after buying an additional 957,828 shares during the period. 92.70% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on EQH shares. Morgan Stanley decreased their target price on shares of Equitable from $68.00 to $58.00 and set an "overweight" rating for the company in a research note on Thursday. UBS Group upgraded shares of Equitable from a "neutral" rating to a "buy" rating and increased their price objective for the company from $49.00 to $77.00 in a research report on Wednesday, April 2nd. JPMorgan Chase & Co. increased their price target on Equitable from $53.00 to $55.00 and gave the company a "neutral" rating in a report on Wednesday, April 2nd. BMO Capital Markets upped their price objective on Equitable from $69.00 to $72.00 and gave the company an "outperform" rating in a research report on Tuesday, February 25th. Finally, Truist Financial raised their target price on Equitable from $52.00 to $60.00 and gave the stock a "buy" rating in a research report on Monday, February 10th. One equities research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $60.91.

Equitable Stock Performance

NYSE EQH traded up $0.64 on Friday, reaching $46.44. 4,802,470 shares of the stock were exchanged, compared to its average volume of 2,626,446. The company has a current ratio of 0.07, a quick ratio of 0.12 and a debt-to-equity ratio of 3.07. Equitable Holdings, Inc. has a one year low of $35.49 and a one year high of $56.00. The company's 50-day simple moving average is $51.77 and its two-hundred day simple moving average is $48.99. The firm has a market capitalization of $14.25 billion, a PE ratio of 12.16 and a beta of 1.23.

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 analysts' consensus estimates of $1.65 by ($0.08). Equitable had a net margin of 10.51% and a return on equity of 85.70%. Analysts expect that Equitable Holdings, Inc. will post 7.33 EPS for the current fiscal year.

Equitable Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 12th. Stockholders of record on Wednesday, March 5th were issued a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 2.07%. The ex-dividend date was Wednesday, March 5th. Equitable's dividend payout ratio (DPR) is presently 25.13%.

Insider Buying and Selling at Equitable

In related news, COO Jeffrey J. Hurd sold 6,666 shares of Equitable stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $54.65, for a total value of $364,296.90. Following the completion of the transaction, the chief operating officer now owns 92,209 shares in the company, valued at approximately $5,039,221.85. This trade represents a 6.74 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Nick Lane sold 25,000 shares of the company's stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $51.65, for a total value of $1,291,250.00. Following the sale, the insider now owns 121,629 shares in the company, valued at approximately $6,282,137.85. This trade represents a 17.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 103,332 shares of company stock valued at $5,364,610 in the last 90 days. Insiders own 1.10% of the company's stock.

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.