Man Group plc Buys 365,252 Shares of Equitable Holdings Inc (NYSE:EQH)
Man Group plc boosted its stake in Equitable Holdings Inc (NYSE:EQH) by 27.3% during the 4th quarter, HoldingsChannel.com reports. The fund owned 1,704,474 shares of the company’s stock after purchasing an additional 365,252 shares during the period. Man Group plc’s holdings in Equitable were worth $42,238,000 as of its most recent filing with the SEC.
Other hedge funds also recently made changes to their positions in the company. Banco Santander S.A. bought a new stake in Equitable in the fourth quarter worth about $764,000. Public Employees Retirement System of Ohio raised its position in Equitable by 12.6% in the third quarter. Public Employees Retirement System of Ohio now owns 126,455 shares of the company’s stock worth $2,802,000 after acquiring an additional 14,182 shares during the period. Voya Investment Management LLC raised its position in Equitable by 365.5% in the third quarter. Voya Investment Management LLC now owns 451,551 shares of the company’s stock worth $10,006,000 after acquiring an additional 354,545 shares during the period. Squarepoint Ops LLC raised its position in Equitable by 20.2% in the third quarter. Squarepoint Ops LLC now owns 77,127 shares of the company’s stock worth $1,709,000 after acquiring an additional 12,936 shares during the period. Finally, State Street Corp raised its position in Equitable by 6.5% in the third quarter. State Street Corp now owns 8,923,884 shares of the company’s stock worth $197,753,000 after acquiring an additional 546,887 shares during the period. 87.72% of the stock is currently owned by institutional investors and hedge funds.
NYSE EQH opened at $13.42 on Wednesday. The company’s 50 day moving average is $20.87 and its 200-day moving average is $22.82. Equitable Holdings Inc has a 12-month low of $9.89 and a 12-month high of $27.30. The firm has a market cap of $4.84 billion, a P/E ratio of -3.82, a price-to-earnings-growth ratio of 0.38 and a beta of 1.40.
The company also recently disclosed a quarterly dividend, which was paid on Monday, March 16th. Investors of record on Monday, March 9th were paid a dividend of $0.15 per share. The ex-dividend date of this dividend was Friday, March 6th. This represents a $0.60 annualized dividend and a yield of 4.47%. Equitable’s dividend payout ratio is currently 12.37%.
In other news, Director George Stansfield acquired 2,500 shares of Equitable stock in a transaction that occurred on Monday, March 23rd. The stock was bought at an average price of $10.41 per share, with a total value of $26,025.00. Following the completion of the purchase, the director now owns 5,000 shares in the company, valued at $52,050. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Mark Pearson acquired 12,635 shares of Equitable stock in a transaction that occurred on Monday, March 9th. The shares were purchased at an average cost of $15.38 per share, with a total value of $194,326.30. In the last ninety days, insiders have purchased 59,475 shares of company stock valued at $868,606. 0.16% of the stock is owned by corporate insiders.
EQH has been the topic of several research reports. Royal Bank of Canada lowered shares of Equitable from an “outperform” rating to a “sector perform” rating and lowered their price objective for the stock from $27.00 to $20.00 in a research report on Friday, March 20th. ValuEngine lowered shares of Equitable from a “hold” rating to a “sell” rating in a research report on Tuesday. Zacks Investment Research lowered shares of Equitable from a “buy” rating to a “hold” rating in a research report on Thursday, March 19th. Morgan Stanley lowered their price objective on shares of Equitable from $29.00 to $21.00 and set an “overweight” rating on the stock in a research report on Tuesday, March 17th. Finally, Wells Fargo & Co raised shares of Equitable from an “equal weight” rating to an “overweight” rating and set a $30.00 price objective on the stock in a research report on Monday, January 6th. One analyst has rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the company. Equitable presently has an average rating of “Hold” and an average target price of $23.88.
Equitable Holdings, Inc operates as a diversified financial services company worldwide. It operates through four segments: Individual Retirement, Group Retirement, Investment Management and Research, and Protection Solutions. The Individual Retirement segment offers a suite of variable annuity products primarily to affluent and high net worth individuals.
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