Summit Global Investments Purchases 121,621 Shares of Equitable Holdings, Inc. (NYSE:EQH)

Summit Global Investments grew its stake in shares of Equitable Holdings, Inc. (NYSE:EQH - Free Report) by 710.4% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 138,740 shares of the company's stock after purchasing an additional 121,621 shares during the period. Summit Global Investments' holdings in Equitable were worth $6,544,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in EQH. JPMorgan Chase & Co. grew its holdings in Equitable by 20.3% during the third quarter. JPMorgan Chase & Co. now owns 908,653 shares of the company's stock worth $38,191,000 after buying an additional 153,457 shares in the last quarter. Miracle Mile Advisors LLC purchased a new position in Equitable during the 4th quarter worth $295,000. Principal Financial Group Inc. grew its stake in shares of Equitable by 7.5% in the 3rd quarter. Principal Financial Group Inc. now owns 2,117,568 shares of the company's stock worth $89,001,000 after acquiring an additional 148,180 shares in the last quarter. Vest Financial LLC raised its holdings in shares of Equitable by 11.7% in the fourth quarter. Vest Financial LLC now owns 752,091 shares of the company's stock valued at $35,476,000 after purchasing an additional 78,725 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new position in shares of Equitable during the fourth quarter valued at about $29,939,000. 92.70% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the company. Barclays boosted their target price on Equitable from $60.00 to $61.00 and gave the stock an "overweight" rating in a research note on Monday, January 6th. BMO Capital Markets boosted their price objective on Equitable from $69.00 to $72.00 and gave the stock an "outperform" rating in a research report on Tuesday, February 25th. Truist Financial upped their price objective on Equitable from $52.00 to $60.00 and gave the company a "buy" rating in a research note on Monday, February 10th. Morgan Stanley lifted their target price on Equitable from $66.00 to $68.00 and gave the stock an "overweight" rating in a research note on Tuesday, March 11th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of Equitable from a "hold" rating to a "buy" rating and increased their price target for the company from $47.00 to $58.00 in a research report on Friday, January 10th. Two analysts have rated the stock with a hold rating and ten have given a buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $57.75.

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Insider Activity

In other news, COO Jeffrey J. Hurd sold 6,666 shares of the business's stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $55.38, for a total transaction of $369,163.08. Following the sale, the chief operating officer now owns 104,298 shares in the company, valued at approximately $5,776,023.24. The trade was a 6.01 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Nick Lane sold 5,000 shares of the company's stock in a transaction that occurred on 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 sale, the insider now owns 139,073 shares in the company, valued at $7,109,411.76. The trade was a 3.47 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 103,332 shares of company stock worth $5,364,610 in the last quarter. 1.10% of the stock is owned by company insiders.

Equitable Price Performance

NYSE EQH traded down $0.21 during trading hours on Wednesday, reaching $54.09. 1,621,393 shares of the stock traded hands, compared to its average volume of 2,436,208. 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 50 day simple moving average of $52.93 and a two-hundred day simple moving average of $48.18. Equitable Holdings, Inc. has a 1 year low of $35.49 and a 1 year high of $56.00. The company has a market cap of $16.65 billion, a price-to-earnings ratio of 14.16 and a beta of 1.39.

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

Equitable Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 12th. Shareholders of record on Wednesday, March 5th were issued a $0.24 dividend. The ex-dividend date of this dividend was Wednesday, March 5th. This represents a $0.96 annualized dividend and a yield of 1.77%. Equitable's dividend payout ratio (DPR) 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.