Power Corp of Canada has increased its stake in Equitable Holdings, Inc. during the 1st quarter of this year, as disclosed in its recent filing with the Securities & Exchange Commission. The company now owns 169,759 shares of Equitable’s stock after purchasing an additional 93,149 shares. This represents a significant increase of 121.6% in Power Corp of Canada’s holdings in Equitable.
The value of Power Corp of Canada’s holdings in Equitable at the end of the most recent quarter was $4,003,000. This demonstrates a strong commitment to investing in Equitable and suggests a positive outlook for the company’s growth potential.
Equitable recently released its earnings results for the quarter ending on August 2nd. The company reported earnings per share (EPS) of $1.17, meeting the consensus estimates projected by analysts. Equitable also generated revenue of $3.34 billion during the same period, slightly below analyst expectations of $3.39 billion.
For the current fiscal year, sell-side analysts predict that Equitable Holdings, Inc. will post an EPS of $4.94. This indicates the potential for steady and consistent earnings growth over the course of this fiscal year.
Investors and market observers can access more detailed information about Equitable Holdings through our latest research report on EQH. This report provides comprehensive insights into the company’s financial performance and prospects for future growth.
Overall, Power Corp of Canada’s increased stake in Equitable Holdings reflects confidence in the company’s performance and long-term viability. With positive earnings results and anticipated growth ahead, Equitable appears to be a promising investment opportunity for discerning investors looking to diversify their portfolios.
Please note that this article is based on information available as of September 13th, 2023, and may not reflect any subsequent developments or changes in the company’s position since then.
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Shifting Landscape and Potential Growth: Analyzing Equitable Holdings, Inc. (EQH)
Equitable Holdings, Inc. (EQH) has seen significant changes in its positions among hedge funds and institutional investors. EverSource Wealth Advisors LLC, for example, increased its stake in Equitable by 21.0% during the fourth quarter, now owning 1,921 shares worth $55,000. Belpointe Asset Management LLC also entered the game with a new position in Equitable worth approximately $67,000.
Another institutional investor, MV Capital Management Inc., acquired a new position in Equitable during the first quarter valued at around $102,000. American International Group Inc., on the other hand, boosted its holdings by 9.3% during the second quarter and now owns 4,007 shares worth $104,000. Finally, Advisory Services Network LLC significantly lifted its stake in Equitable by 236.6% during the first quarter to reach 4,517 shares valued at $115,000.
These moves indicate a shifting landscape within EQH’s investor base as it strives to navigate challenging market conditions and capitalize on potential opportunities.
At present, approximately 92.7% of Equitable’s stock is owned by institutional investors – an interesting statistic that underscores their impact on the company’s stock performance.
Turning our attention to EQH’s recent performance on the stock market, it opened at $28.87 on September 13th – a rather modest figure given the company’s potential value and market standing.
Analysts have observed that EQH has displayed a relatively stable trading pattern recently with a slight uptrend™—particularly in comparison to its previous highs and lows over the past year.
For instance, its 50-day moving average price stands at $28.20 while its two-hundred day moving average price records slightly lower at $26.66—a subtle indication of consistent growth albeit at a slower pace.
In terms of historical performance over one year period^â–², Equitable’s stock has experienced relatively modest fluctuations with a 1-year low of $21.89 and a 1-year high of $33.24—an indication that the company has maintained steady resilience throughout this period.
The market capitalization for Equitable currently stands at an impressive $10.03 billion. With a price-to-earnings ratio of 29.16 and a beta value of 1.40, EQH displays elements that attract investors seeking potential growth in their portfolios.
Equitable recently announced its quarterly dividend which was paid out on August 14th to shareholders of record as of August 7th. Investors received a dividend of $0.22 per share, indicating an annualized dividend payout ratio of 88.89% and an attractive dividend yield of approximately 3.05%.
Research analysts have assessed EQH’s current performance and issued their opinions accordingly. Barclays has maintained an “overweight” rating while lifting the target price from $31 to $33 per share^§▼.
Similarly, Wells Fargo & Company increased its target price from $38 to $41 per share while also designating EQH as an “overweight” stock^§▼.
With three analysts adopting a “hold” position and four assigning EQH as a buy-rated stock, there seems to be some consensus among experts regarding Equitable’s potential and the opportunities it presents for investors.
Taking into account these insightful assessments, it is evident that Equitable Holdings, Inc.’s performance continues to draw attention from both institutional investors and research analysts alike.
As investors monitor how events unfold for EQH going forward, they would do well to consider insights offered by industry experts in order to make informed decisions about adding or divesting this stock from their portfolios.
Please note that all information provided herein is accurate as of September 13th, 2023.
