Engineers Gate Manager LP Purchases 18,921 Shares of Equitable Holdings Inc (NYSE:EQH)
Engineers Gate Manager LP grew its position in Equitable Holdings Inc (NYSE:EQH) by 174.9% in the first quarter, according to its most recent filing with the SEC. The fund owned 29,741 shares of the company’s stock after acquiring an additional 18,921 shares during the period. Engineers Gate Manager LP’s holdings in Equitable were worth $430,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Nuveen Asset Management LLC lifted its stake in shares of Equitable by 25.7% in the 1st quarter. Nuveen Asset Management LLC now owns 7,837,468 shares of the company’s stock valued at $113,252,000 after acquiring an additional 1,601,064 shares during the last quarter. Pictet Asset Management Ltd. bought a new position in shares of Equitable in the 1st quarter valued at $2,541,000. Two Sigma Advisers LP raised its position in Equitable by 2,890.0% during the 1st quarter. Two Sigma Advisers LP now owns 328,900 shares of the company’s stock worth $4,753,000 after purchasing an additional 317,900 shares during the last quarter. UBS Group AG raised its position in Equitable by 54.5% during the 1st quarter. UBS Group AG now owns 69,492 shares of the company’s stock worth $1,004,000 after purchasing an additional 24,519 shares during the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp raised its position in Equitable by 5.7% during the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 430,417 shares of the company’s stock worth $6,219,000 after purchasing an additional 23,162 shares during the last quarter. Institutional investors own 87.46% of the company’s stock.
Several research analysts recently issued reports on EQH shares. ValuEngine lowered Equitable from a “sell” rating to a “strong sell” rating in a research report on Wednesday, April 29th. Citigroup raised Equitable from a “neutral” rating to a “buy” rating and lowered their price objective for the stock from $18.00 to $17.00 in a research report on Friday, April 17th. SunTrust Banks lowered their price objective on Equitable from $27.00 to $24.00 and set a “buy” rating for the company in a research report on Wednesday, May 13th. Royal Bank of Canada reissued a “hold” rating and issued a $20.00 price objective on shares of Equitable in a research report on Sunday, May 10th. Finally, Morgan Stanley lowered their price objective on Equitable from $29.00 to $21.00 and set an “overweight” rating for the company in a research report on Tuesday, March 17th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and six have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $22.75.
Equitable (NYSE:EQH) last issued its earnings results on Thursday, May 7th. The company reported $1.08 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.14 by ($0.06). The firm had revenue of $12.59 billion during the quarter, compared to the consensus estimate of $3.47 billion. During the same period in the previous year, the company posted $0.98 EPS. Equities research analysts predict that Equitable Holdings Inc will post 4.28 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, June 9th. Shareholders of record on Monday, June 1st were paid a dividend of $0.17 per share. The ex-dividend date of this dividend was Friday, May 29th. This represents a $0.68 dividend on an annualized basis and a yield of 3.58%. This is an increase from Equitable’s previous quarterly dividend of $0.15. Equitable’s payout ratio is 14.02%.
Equitable Company Profile
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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