Community Trust & Investment Co. Has $16.62 Million Stock Position in Equitable Holdings, Inc. (NYSE:EQH)

Community Trust & Investment Co. lowered its position in shares of Equitable Holdings, Inc. (NYSE:EQH) by 1.5% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 319,013 shares of the company’s stock after selling 4,784 shares during the quarter. Community Trust & Investment Co. owned 0.10% of Equitable worth $16,617,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Assetmark Inc. increased its position in Equitable by 33.2% during the 4th quarter. Assetmark Inc. now owns 799 shares of the company’s stock worth $38,000 after buying an additional 199 shares during the period. Truist Financial Corp increased its position in Equitable by 2.8% during the 4th quarter. Truist Financial Corp now owns 9,554 shares of the company’s stock worth $451,000 after buying an additional 257 shares during the period. QRG Capital Management Inc. increased its position in Equitable by 0.3% during the 1st quarter. QRG Capital Management Inc. now owns 88,561 shares of the company’s stock worth $4,613,000 after buying an additional 260 shares during the period. Jones Financial Companies Lllp increased its position in Equitable by 10.6% during the 4th quarter. Jones Financial Companies Lllp now owns 2,768 shares of the company’s stock worth $131,000 after buying an additional 266 shares during the period. Finally, Colonial Trust Co SC increased its position in Equitable by 7.0% during the 4th quarter. Colonial Trust Co SC now owns 4,278 shares of the company’s stock worth $202,000 after buying an additional 278 shares during the period. Institutional investors and hedge funds own 92.70% of the company’s stock.

Insider Buying and Selling at Equitable

In other Equitable news, COO Jeffrey J. Hurd sold 6,666 shares of Equitable stock in a transaction dated Thursday, May 15th. The stock was sold at an average price of $52.91, for a total value of $352,698.06. Following the transaction, the chief operating officer now owns 94,980 shares in the company, valued at $5,025,391.80. The trade was a 6.56% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Nick Lane sold 5,000 shares of Equitable stock in a transaction dated Thursday, May 15th. The shares were sold at an average price of $52.91, for a total value of $264,550.00. Following the sale, the insider now directly owns 139,073 shares in the company, valued at $7,358,352.43. The trade was a 3.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 83,332 shares of company stock worth $4,186,000 over the last 90 days. Insiders own 1.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on EQH. Morgan Stanley increased their price objective on Equitable from $58.00 to $67.00 and gave the stock an “overweight” rating in a research report on Monday, May 19th. Keefe, Bruyette & Woods raised their price target on Equitable from $61.00 to $63.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 7th. Wells Fargo & Company raised their price target on Equitable from $59.00 to $61.00 and gave the stock an “overweight” rating in a research report on Thursday, May 1st. Evercore ISI decreased their price target on Equitable from $69.00 to $64.00 and set an “outperform” rating on the stock in a research report on Thursday, May 1st. Finally, UBS Group decreased their price target on Equitable from $77.00 to $75.00 and set a “buy” rating on the stock in a research report on Tuesday, May 27th. One analyst has rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $61.67.

Equitable Stock Performance

Equitable stock opened at $51.52 on Monday. Equitable Holdings, Inc. has a 12-month low of $36.46 and a 12-month high of $56.00. The company has a quick ratio of 0.12, a current ratio of 0.07 and a debt-to-equity ratio of 3.07. The business’s 50-day moving average price is $50.97 and its two-hundred day moving average price is $50.81. The stock has a market cap of $15.66 billion, a PE ratio of 13.49 and a beta of 1.15.

Equitable (NYSE:EQH) last released its earnings results on Tuesday, April 29th. The company reported $1.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.49 by ($0.14). Equitable had a net margin of 10.51% and a return on equity of 85.70%. The business had revenue of $4.58 billion during the quarter, compared to the consensus estimate of $4.05 billion. During the same quarter in the prior year, the firm earned $1.43 EPS. The business’s revenue was up 105.2% on a year-over-year basis. As a group, analysts expect that Equitable Holdings, Inc. will post 7.33 earnings per share for the current fiscal year.

Equitable Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 9th. Shareholders of record on Monday, June 2nd were given a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 2.10%. The ex-dividend date was Monday, June 2nd. This is a boost from Equitable’s previous quarterly dividend of $0.24. Equitable’s payout ratio is currently 29.35%.

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.