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

Miracle Mile Advisors LLC purchased a new stake in Equitable Holdings, Inc. (NYSE:EQH - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 6,248 shares of the company's stock, valued at approximately $295,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of EQH. Wedmont Private Capital bought a new stake in shares of Equitable in the 4th quarter worth $201,000. Diversified Trust Co boosted its holdings in Equitable by 29.4% during the fourth quarter. Diversified Trust Co now owns 27,896 shares of the company's stock worth $1,316,000 after purchasing an additional 6,336 shares during the last quarter. Nordea Investment Management AB boosted its stake in shares of Equitable by 700.3% in the 4th quarter. Nordea Investment Management AB now owns 1,563,172 shares of the company's stock worth $74,126,000 after buying an additional 1,367,837 shares during the last quarter. Everence Capital Management Inc. purchased a new position in Equitable in the fourth quarter worth $458,000. Finally, GAMMA Investing LLC grew its stake in Equitable by 12.8% in the 4th quarter. GAMMA Investing LLC now owns 8,410 shares of the company's stock valued at $397,000 after purchasing an additional 957 shares during the period. Institutional investors own 92.70% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on EQH shares. Deutsche Bank Aktiengesellschaft upgraded shares of Equitable from a "hold" rating to a "buy" rating and raised their price objective for the stock from $47.00 to $58.00 in a report on Friday, January 10th. Keefe, Bruyette & Woods raised Equitable from a "market perform" rating to an "outperform" rating and upped their price target for the company from $54.00 to $58.00 in a research report on Monday, December 9th. Wells Fargo & Company lowered their price objective on Equitable from $54.00 to $53.00 and set an "overweight" rating on the stock in a research note on Tuesday. Barclays lifted their target price on shares of Equitable from $60.00 to $61.00 and gave the stock an "overweight" rating in a research note on Monday, January 6th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Equitable from $45.00 to $53.00 and gave the stock a "neutral" rating in a report on Tuesday, January 7th. Two research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $52.18.

Insider Transactions at Equitable

In other news, CEO Mark Pearson sold 30,000 shares of the stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $47.43, for a total transaction of $1,422,900.00. Following the transaction, the chief executive officer now directly owns 648,555 shares in the company, valued at approximately $30,760,963.65. This represents a 4.42 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO William James Iv Eckert sold 1,700 shares of the business's stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $46.68, for a total transaction of $79,356.00. Following the completion of the sale, the chief accounting officer now directly owns 17,677 shares of the company's stock, valued at $825,162.36. This represents a 8.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 161,698 shares of company stock valued at $7,904,806. Insiders own 1.10% of the company's stock.

Equitable Price Performance

Shares of EQH traded up $0.16 during mid-day trading on Friday, reaching $51.70. 1,567,195 shares of the stock traded hands, compared to its average volume of 2,554,463. The company has a current ratio of 0.12, a quick ratio of 0.12 and a debt-to-equity ratio of 1.63. Equitable Holdings, Inc. has a 1 year low of $31.76 and a 1 year high of $52.04. The company has a market cap of $16.20 billion, a price-to-earnings ratio of -47.43 and a beta of 1.39. The firm has a fifty day moving average price of $47.77 and a 200 day moving average price of $44.10.

Equitable (NYSE:EQH - Get Free Report) last released its quarterly earnings results on Monday, November 4th. The company reported $1.53 earnings per share for the quarter, meeting the consensus estimate of $1.53. The firm had revenue of $3.08 billion for 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%. The company's revenue was down 15.1% compared to the same quarter last year. During the same quarter last year, the firm posted $1.15 EPS. As a group, equities research analysts predict that Equitable Holdings, Inc. will post 6.04 earnings per share for the current year.

Equitable Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 3rd. Stockholders of record on Tuesday, November 26th were given a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 1.86%. The ex-dividend date of this dividend was Tuesday, November 26th. Equitable's dividend payout ratio (DPR) is currently -88.07%.

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.