Federated Hermes Inc. Purchases 550,436 Shares of Equitable Holdings, Inc. (NYSE:EQH)

Federated Hermes Inc. raised its stake in Equitable Holdings, Inc. (NYSE:EQH - Free Report) by 1,095.9% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 600,662 shares of the company's stock after purchasing an additional 550,436 shares during the quarter. Federated Hermes Inc. owned 0.18% of Equitable worth $24,543,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently modified their holdings of EQH. New Covenant Trust Company N.A. purchased a new stake in Equitable in the 1st quarter valued at $28,000. LRI Investments LLC purchased a new stake in shares of Equitable in the first quarter valued at about $45,000. Rise Advisors LLC lifted its position in shares of Equitable by 1,421.4% during the first quarter. Rise Advisors LLC now owns 1,704 shares of the company's stock valued at $65,000 after purchasing an additional 1,592 shares in the last quarter. GAMMA Investing LLC boosted its holdings in Equitable by 26.4% during the first quarter. GAMMA Investing LLC now owns 1,939 shares of the company's stock worth $74,000 after purchasing an additional 405 shares during the last quarter. Finally, Quadrant Capital Group LLC grew its position in Equitable by 261.3% in the 4th quarter. Quadrant Capital Group LLC now owns 2,269 shares of the company's stock worth $76,000 after purchasing an additional 1,641 shares in the last quarter. Institutional investors own 92.70% of the company's stock.

Insider Buying and Selling at Equitable

In related news, COO Jeffrey J. Hurd sold 9,969 shares of Equitable stock in a transaction on Monday, July 15th. The stock was sold at an average price of $43.09, for a total transaction of $429,564.21. Following the completion of the sale, the chief operating officer now owns 111,552 shares of the company's stock, valued at $4,806,775.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, COO Jeffrey J. Hurd sold 9,969 shares of the company's stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $43.09, for a total value of $429,564.21. Following the transaction, the chief operating officer now directly owns 111,552 shares in the company, valued at $4,806,775.68. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Mark Pearson sold 30,000 shares of the firm's stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $42.20, for a total transaction of $1,266,000.00. Following the completion of the sale, the chief executive officer now directly owns 678,555 shares in the company, valued at $28,635,021. The disclosure for this sale can be found here. Insiders own 1.10% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on EQH shares. Barclays began coverage on Equitable in a research note on Wednesday, September 4th. They issued an "overweight" rating and a $59.00 target price on the stock. Wells Fargo & Company reduced their price objective on Equitable from $45.00 to $43.00 and set an "overweight" rating for the company in a research note on Monday, August 12th. Jefferies Financial Group lifted their target price on Equitable from $46.00 to $51.00 and gave the stock a "buy" rating in a research note on Friday, June 28th. Citigroup increased their price target on shares of Equitable from $41.00 to $53.00 and gave the company a "buy" rating in a research report on Tuesday, July 23rd. Finally, JPMorgan Chase & Co. raised their price objective on shares of Equitable from $36.00 to $45.00 and gave the stock a "neutral" rating in a report on Tuesday, July 2nd. Four equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $46.64.

Equitable Stock Performance

EQH stock traded up $0.66 during midday trading on Monday, reaching $40.78. 1,920,658 shares of the company's stock traded hands, compared to its average volume of 2,538,350. The firm has a market capitalization of $13.26 billion, a PE ratio of 12.62 and a beta of 1.42. The company has a 50-day moving average price of $40.88 and a two-hundred day moving average price of $39.28. Equitable Holdings, Inc. has a 52 week low of $24.65 and a 52 week high of $44.50. The company has a debt-to-equity ratio of 3.06, a quick ratio of 0.12 and a current ratio of 0.12.

Equitable (NYSE:EQH - Get Free Report) last posted its earnings results on Tuesday, July 30th. The company reported $1.43 earnings per share for the quarter, beating analysts' consensus estimates of $1.40 by $0.03. Equitable had a return on equity of 87.49% and a net margin of 7.87%. The business had revenue of $3.51 billion during the quarter, compared to analyst estimates of $3.71 billion. During the same quarter in the previous year, the firm earned $1.17 EPS. The company's quarterly revenue was up 47.7% compared to the same quarter last year. As a group, equities analysts anticipate that Equitable Holdings, Inc. will post 6.01 EPS for the current year.

Equitable Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, August 13th. Shareholders of record on Tuesday, August 6th were paid a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 2.35%. The ex-dividend date of this dividend was Tuesday, August 6th. Equitable's dividend payout ratio is presently 29.72%.

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.