Pictet Asset Management Holding SA Increases Stake in Equitable Holdings, Inc. (NYSE:EQH)

Pictet Asset Management Holding SA raised its holdings in shares of Equitable Holdings, Inc. (NYSE:EQH) by 65.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 245,079 shares of the company’s stock after acquiring an additional 96,729 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Equitable were worth $11,560,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of the business. Cerity Partners LLC grew its holdings in Equitable by 53.5% during the third quarter. Cerity Partners LLC now owns 22,443 shares of the company’s stock valued at $943,000 after purchasing an additional 7,823 shares during the period. FMR LLC increased its holdings in Equitable by 27.4% in the 3rd quarter. FMR LLC now owns 710,951 shares of the company’s stock worth $29,881,000 after acquiring an additional 152,847 shares in the last quarter. Holocene Advisors LP raised its stake in Equitable by 486.6% during the 3rd quarter. Holocene Advisors LP now owns 157,085 shares of the company’s stock worth $6,602,000 after acquiring an additional 130,306 shares during the period. Jacobs Levy Equity Management Inc. lifted its holdings in Equitable by 1,309.9% during the third quarter. Jacobs Levy Equity Management Inc. now owns 242,163 shares of the company’s stock valued at $10,178,000 after purchasing an additional 224,987 shares in the last quarter. Finally, Investment Management Corp of Ontario boosted its position in shares of Equitable by 21.2% in the third quarter. Investment Management Corp of Ontario now owns 20,040 shares of the company’s stock worth $842,000 after purchasing an additional 3,500 shares during the period. Institutional investors own 92.70% of the company’s stock.

Equitable Stock Up 5.1 %

Shares of NYSE EQH opened at $54.97 on Thursday. The company has a market cap of $16.87 billion, a P/E ratio of 14.39 and a beta of 1.39. The firm has a 50-day simple moving average of $53.05 and a two-hundred day simple moving average of $48.69. Equitable Holdings, Inc. has a 1 year low of $35.49 and a 1 year high of $56.00. The company has a debt-to-equity ratio of 3.07, a current ratio of 0.07 and a quick ratio of 0.12.

Equitable (NYSE:EQH) last posted its quarterly earnings data on Wednesday, February 5th. The company reported $1.57 earnings per share (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%. Research analysts anticipate that Equitable Holdings, Inc. will post 7.33 earnings per share for the current year.

Equitable Dividend Announcement

The business also recently declared 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 dividend on an annualized basis and a dividend yield of 1.75%. The ex-dividend date of this dividend was Wednesday, March 5th. Equitable’s payout ratio is presently 25.13%.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on EQH shares. Deutsche Bank Aktiengesellschaft upgraded shares of Equitable from a “hold” rating to a “buy” rating and lifted their target price 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 company a “buy” rating in a research report on Monday, February 10th. Morgan Stanley lifted their price objective on shares of Equitable from $66.00 to $68.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 11th. BMO Capital Markets upped 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 lifted their price target on Equitable from $62.00 to $66.00 and gave the stock an “outperform” rating in a research report on Friday, February 28th. One equities research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $60.75.

Insider Buying and Selling

In other news, insider Nick Lane sold 5,000 shares of the company’s stock in a transaction that occurred on Friday, March 14th. The shares were 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 of the company’s stock, valued at approximately $7,109,411.76. This represents a 3.47 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Mark Pearson sold 30,000 shares of the stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $51.16, for a total transaction of $1,534,800.00. Following the transaction, the chief executive officer now owns 753,206 shares in the company, valued at approximately $38,534,018.96. This represents a 3.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 103,332 shares of company stock valued at $5,364,610 in the last 90 days. Company insiders own 1.10% of the company’s stock.

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.