Amundi Expands Stake in Equitable Holdings with New Share Purchase

Amundi has increased its stake in Equitable Holdings, Inc. (NYSE: EQH) by 4.4% during the second quarter of 2023. According to the firm’s latest Form 13F filing with the Securities and Exchange Commission, Amundi now owns a total of 2,219,610 shares after acquiring an additional 94,316 shares. This investment is valued at approximately $123,965,000, representing 0.74% of Equitable’s total shares.

Several other institutional investors have also adjusted their positions in Equitable. WPG Advisers LLC purchased new shares in the first quarter, investing $27,000, while True Wealth Design LLC increased its stake by an impressive 592.6% during the second quarter, bringing its total to 561 shares worth $31,000 after acquiring an additional 480 shares. Other notable investments include Orion Capital Management LLC, which bought a new stake valued at approximately $33,000, and Geneos Wealth Management Inc., which increased its stake by 92.6% in the first quarter, now holding 882 shares valued at $46,000. MAI Capital Management also expanded its position by 64.0% in the second quarter.

As it stands, institutional investors collectively own 92.7% of Equitable’s stock.

Equitable Holdings Stock Performance

Equitable Holdings, Inc. opened trading at $45.82 on November 4, 2023. The company has a market capitalization of $13.13 billion. Key financial ratios include a debt-to-equity ratio of 11.87, a quick ratio of 0.13, and a current ratio of 0.13. Over the past year, the stock has fluctuated between a low of $41.39 and a high of $56.61.

In its most recent quarterly earnings report, Equitable Holdings reported earnings per share of $1.48, failing to meet analysts’ expectations of $1.59 by $0.11. The company generated revenue of $1.45 billion, significantly lower than the expected $3.65 billion. On a year-over-year basis, revenue fell by 52.8%, while the return on equity stood at an impressive 107.71% with a negative net margin of 5.80%. Analysts forecast earnings of $7.33 per share for the current fiscal year.

Dividend Announcement and Insider Activity

Equitable recently declared a quarterly dividend of $0.27, which was paid on December 1, 2023, to investors on record as of November 24, 2023. This annualizes to $1.08, resulting in a dividend yield of 2.4%. The company’s payout ratio currently stands at -39.13%.

In related news, Chief Operating Officer Jeffrey J. Hurd sold 6,790 shares on November 17, 2023, at an average price of $43.28, totaling $293,871.20. Following this transaction, Hurd’s remaining shares are valued at approximately $2,956,370.24. Meanwhile, Chief Financial Officer Robin M. Raju sold 36,888 shares on September 22, 2023, for $1,991,952.00, resulting in a 20.82% decrease in Raju’s holdings.

Insider trading activity over the past 90 days has seen a total of 176,358 shares sold, valued at $8,760,599. Corporate insiders currently hold 1.10% of the company’s stock.

Equitable’s stock has attracted attention from various analysts, with Wolfe Research upgrading its rating to “strong-buy.” Barclays maintained an “overweight” rating while setting a price target of $63.00. Evercore ISI also raised its target price from $63.00 to $64.00, giving the stock an “outperform” rating. Conversely, Wall Street Zen downgraded Equitable from a “hold” to a “sell” rating. Currently, the average rating is “Moderate Buy” with a consensus price target of $64.18.

Equitable Holdings, Inc. functions as a diversified financial services company through various segments, including Individual Retirement, Group Retirement, Investment Management and Research, Protection Solutions, Wealth Management, and Legacy.