Proficio Capital Partners LLC Acquires Shares of 101,312 Equitable Holdings, Inc. (NYSE:EQH)

Proficio Capital Partners LLC purchased a new position in Equitable Holdings, Inc. (NYSE:EQH - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 101,312 shares of the company's stock, valued at approximately $4,779,000.

Several other institutional investors also recently bought and sold shares of EQH. JPMorgan Chase & Co. grew its holdings in shares of Equitable by 20.3% during the third quarter. JPMorgan Chase & Co. now owns 908,653 shares of the company's stock valued at $38,191,000 after buying an additional 153,457 shares during the last quarter. Miracle Mile Advisors LLC purchased a new position in shares of Equitable in the fourth quarter worth $295,000. Principal Financial Group Inc. lifted its holdings in shares of Equitable by 7.5% during the third quarter. Principal Financial Group Inc. now owns 2,117,568 shares of the company's stock valued at $89,001,000 after purchasing an additional 148,180 shares in the last quarter. Vest Financial LLC boosted its position in shares of Equitable by 11.7% during the fourth quarter. Vest Financial LLC now owns 752,091 shares of the company's stock valued at $35,476,000 after buying an additional 78,725 shares during the last quarter. Finally, Qsemble Capital Management LP boosted its position in shares of Equitable by 902.4% during the third quarter. Qsemble Capital Management LP now owns 78,456 shares of the company's stock valued at $3,298,000 after buying an additional 70,629 shares during the last quarter. 92.70% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. JPMorgan Chase & Co. boosted their price objective on shares of Equitable from $45.00 to $53.00 and gave the company a "neutral" rating in a report on Tuesday, January 7th. Deutsche Bank Aktiengesellschaft upgraded Equitable from a "hold" rating to a "buy" rating and boosted their price target for the company from $47.00 to $58.00 in a research note on Friday, January 10th. Truist Financial increased their price objective on shares of Equitable from $52.00 to $60.00 and gave the stock a "buy" rating in a research note on Monday, February 10th. BMO Capital Markets boosted their target price on shares of Equitable from $69.00 to $72.00 and gave the company an "outperform" rating in a research report on Tuesday, February 25th. Finally, Keefe, Bruyette & Woods increased their price target on shares of Equitable from $62.00 to $66.00 and gave the stock an "outperform" rating in a research report on Friday, February 28th. Two equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company's stock. According to data from MarketBeat, Equitable currently has an average rating of "Moderate Buy" and an average price target of $57.75.

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Equitable Price Performance

Shares of Equitable stock traded up $0.08 on Friday, hitting $52.49. 12,581,032 shares of the company traded hands, compared to its average volume of 2,447,881. The company has a debt-to-equity ratio of 3.07, a quick ratio of 0.12 and a current ratio of 0.07. The business has a 50-day simple moving average of $52.66 and a 200 day simple moving average of $47.82. Equitable Holdings, Inc. has a 52 week low of $35.49 and a 52 week high of $56.00. The stock has a market capitalization of $16.16 billion, a P/E ratio of 13.74 and a beta of 1.39.

Equitable (NYSE:EQH - Get Free Report) last announced 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 return on equity of 85.70% and a net margin of 10.51%. Research analysts expect that Equitable Holdings, Inc. will post 7.33 earnings per share for the current fiscal year.

Equitable Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 12th. Shareholders of record on Wednesday, March 5th were issued a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 1.83%. The ex-dividend date was Wednesday, March 5th. Equitable's dividend payout ratio is presently 25.13%.

Insiders Place Their Bets

In related news, insider Nick Lane sold 5,000 shares of Equitable stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $51.12, for a total value of $255,600.00. Following the completion of the transaction, the insider now owns 139,073 shares in the company, valued at approximately $7,109,411.76. This trade represents a 3.47 % 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, CEO Mark Pearson sold 30,000 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 $1,549,500.00. Following the sale, the chief executive officer now owns 629,939 shares in the company, valued at approximately $32,536,349.35. This trade represents a 4.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 105,032 shares of company stock valued at $5,443,966 in the last quarter. 1.10% of the stock is currently owned by insiders.

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.