Harvest Fund Management Co. Ltd Acquires Shares of 1,925 Equitable Holdings, Inc. (NYSE:EQH)

Harvest Fund Management Co. Ltd acquired a new stake in Equitable Holdings, Inc. (NYSE:EQH) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 1,925 shares of the company’s stock, valued at approximately $64,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Lindbrook Capital LLC lifted its stake in Equitable by 143.1% in the fourth quarter. Lindbrook Capital LLC now owns 1,004 shares of the company’s stock valued at $33,000 after buying an additional 591 shares during the last quarter. Blue Trust Inc. increased its holdings in shares of Equitable by 126.2% in the fourth quarter. Blue Trust Inc. now owns 1,262 shares of the company’s stock valued at $42,000 after purchasing an additional 704 shares during the period. GAMMA Investing LLC acquired a new position in shares of Equitable in the fourth quarter valued at approximately $50,000. UMB Bank n.a. increased its holdings in shares of Equitable by 128.3% in the third quarter. UMB Bank n.a. now owns 1,840 shares of the company’s stock valued at $52,000 after purchasing an additional 1,034 shares during the period. Finally, Cary Street Partners Investment Advisory LLC acquired a new position in shares of Equitable in the third quarter valued at approximately $67,000. Hedge funds and other institutional investors own 92.70% of the company’s stock.

Insider Transactions at Equitable

In related news, insider Nick Lane sold 20,000 shares of the business’s stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $34.02, for a total transaction of $680,400.00. Following the transaction, the insider now directly owns 144,132 shares in the company, valued at $4,903,370.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Equitable news, COO Jeffrey J. Hurd sold 9,969 shares of the company’s stock in a transaction on Monday, April 15th. The stock was sold at an average price of $36.24, for a total transaction of $361,276.56. Following the transaction, the chief operating officer now owns 141,062 shares of the company’s stock, valued at approximately $5,112,086.88. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Nick Lane sold 20,000 shares of the company’s stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $34.02, for a total transaction of $680,400.00. Following the completion of the sale, the insider now owns 144,132 shares of the company’s stock, valued at approximately $4,903,370.64. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 241,907 shares of company stock worth $8,338,649. Company insiders own 1.02% of the company’s stock.

Equitable Trading Down 2.5 %

EQH opened at $37.13 on Friday. The stock has a market cap of $12.16 billion, a price-to-earnings ratio of 10.99 and a beta of 1.42. Equitable Holdings, Inc. has a 1 year low of $21.89 and a 1 year high of $38.44. The stock has a fifty day moving average price of $35.79 and a 200 day moving average price of $32.52.

Equitable (NYSE:EQH) last announced its quarterly earnings results on Tuesday, February 6th. The company reported $1.33 earnings per share for the quarter, topping analysts’ consensus estimates of $1.17 by $0.16. The company had revenue of $3.55 billion during the quarter, compared to analyst estimates of $3.50 billion. As a group, sell-side analysts forecast that Equitable Holdings, Inc. will post 6.01 earnings per share for the current fiscal year.

Equitable Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 4th. Stockholders of record on Monday, February 26th were paid a $0.22 dividend. The ex-dividend date was Friday, February 23rd. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.37%. Equitable’s payout ratio is presently 26.04%.

Wall Street Analysts Forecast Growth

EQH has been the topic of a number of recent research reports. Wells Fargo & Company boosted their target price on Equitable from $43.00 to $46.00 and gave the company an “overweight” rating in a report on Thursday, April 11th. Jefferies Financial Group boosted their target price on Equitable from $42.00 to $45.00 and gave the company a “buy” rating in a report on Friday, March 22nd. JPMorgan Chase & Co. lowered Equitable from an “overweight” rating to a “neutral” rating and boosted their target price for the company from $35.00 to $36.00 in a report on Wednesday, January 3rd. UBS Group boosted their target price on Equitable from $34.00 to $40.00 and gave the company a “buy” rating in a report on Wednesday, January 10th. Finally, Keefe, Bruyette & Woods upped their price objective on Equitable from $39.00 to $41.00 and gave the stock a “market perform” rating in a report on Wednesday, April 10th. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $39.67.

Equitable Company 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.