Jessup Wealth Management Inc Reduces Stake in Equitable Holdings, Inc. (NYSE:EQH)

Jessup Wealth Management Inc lessened its stake in shares of Equitable Holdings, Inc. (NYSE:EQH) by 6.4% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 123,389 shares of the company’s stock after selling 8,476 shares during the period. Equitable accounts for approximately 2.5% of Jessup Wealth Management Inc’s portfolio, making the stock its 16th biggest position. Jessup Wealth Management Inc’s holdings in Equitable were worth $5,820,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of EQH. MQS Management LLC purchased a new position in Equitable in the third quarter worth approximately $587,000. JPMorgan Chase & Co. grew its holdings in shares of Equitable by 20.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 908,653 shares of the company’s stock worth $38,191,000 after purchasing an additional 153,457 shares during the period. Miracle Mile Advisors LLC purchased a new stake in Equitable in the 4th quarter valued at about $295,000. Principal Financial Group Inc. lifted its position in Equitable by 7.5% in the third quarter. Principal Financial Group Inc. now owns 2,117,568 shares of the company’s stock valued at $89,001,000 after buying an additional 148,180 shares during the last quarter. Finally, Vest Financial LLC boosted its stake in Equitable by 11.7% during the fourth quarter. Vest Financial LLC now owns 752,091 shares of the company’s stock worth $35,476,000 after buying an additional 78,725 shares during the period. Institutional investors and hedge funds own 92.70% of the company’s stock.

Equitable Price Performance

EQH stock opened at $55.77 on Thursday. Equitable Holdings, Inc. has a 1 year low of $32.96 and a 1 year high of $56.00. The firm has a market capitalization of $17.47 billion, a P/E ratio of 14.60 and a beta of 1.39. 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 business’s 50-day moving average is $50.69 and its two-hundred day moving average is $46.10.

Equitable (NYSE:EQH) last issued its earnings results on Wednesday, February 5th. The company reported $1.57 earnings per share for the quarter, missing the consensus estimate of $1.65 by ($0.08). Equitable had a net margin of 10.51% and a return on equity of 85.70%. Analysts anticipate that Equitable Holdings, Inc. will post 7.33 earnings per share for the current fiscal year.

Equitable Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 12th. Investors of record on Wednesday, March 5th will be paid a dividend of $0.24 per share. The ex-dividend date of this dividend is Wednesday, March 5th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.72%. Equitable’s payout ratio is currently 25.13%.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on EQH. Truist Financial lifted their price target 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. Deutsche Bank Aktiengesellschaft raised Equitable from a “hold” rating to a “buy” rating and boosted their target price for the company from $47.00 to $58.00 in a research report on Friday, January 10th. Keefe, Bruyette & Woods raised their price target on Equitable from $58.00 to $62.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 12th. Morgan Stanley boosted their price objective on Equitable from $60.00 to $61.00 and gave the company an “overweight” rating in a report on Friday, February 14th. Finally, Wells Fargo & Company raised their target price on Equitable from $53.00 to $61.00 and gave the company an “overweight” rating in a report on Wednesday. Two equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, Equitable currently has a consensus rating of “Moderate Buy” and a consensus target price of $56.58.

Insider Activity at Equitable

In related news, insider Nick Lane sold 25,000 shares of the company’s stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $45.84, for a total value of $1,146,000.00. Following the completion of the transaction, the insider now directly owns 141,629 shares of the company’s stock, valued at $6,492,273.36. This represents a 15.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Jeffrey J. Hurd sold 6,666 shares of the firm’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $55.38, for a total transaction of $369,163.08. Following the sale, the chief operating officer now directly 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 disclosure for this sale can be found here. Insiders have sold 131,698 shares of company stock valued at $6,534,234 over the last quarter. 1.10% of the stock is owned by insiders.

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.