Fintel reports that on October 5, 2023, Deutsche Bank initiated coverage of Equitable Holdings (NYSE:EQH) with a Hold recommendation.
Analyst Price Forecast Suggests 40.21% Upside
As of August 31, 2023, the average one-year price target for Equitable Holdings is 37.65. The forecasts range from a low of 29.29 to a high of $44.10. The average price target represents an increase of 40.21% from its latest reported closing price of 26.85.
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The projected annual revenue for Equitable Holdings is 13,597MM, an increase of 19.20%. The projected annual non-GAAP EPS is 6.06.
Equitable Holdings Declares $0.22 Dividend
On July 28, 2023 the company declared a regular quarterly dividend of $0.22 per share ($0.88 annualized). Shareholders of record as of August 7, 2023 received the payment on August 14, 2023. Previously, the company paid $0.22 per share.
At the current share price of $26.85 / share, the stock's dividend yield is 3.28%.
Looking back five years and taking a sample every week, the average dividend yield has been 2.75%, the lowest has been 1.97%, and the highest has been 5.76%. The standard deviation of yields is 0.51 (n=236).
The current dividend yield is 1.05 standard deviations above the historical average.
Additionally, the company's dividend payout ratio is 0.25. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company's 3-Year dividend growth rate is 0.29%, demonstrating that it has increased its dividend over time.
What is the Fund Sentiment?
There are 829 funds or institutions reporting positions in Equitable Holdings. This is a decrease of 21 owner(s) or 2.47% in the last quarter. Average portfolio weight of all funds dedicated to EQH is 0.30%, an increase of 0.42%. Total shares owned by institutions decreased in the last three months by 3.28% to 378,558K shares. 
The put/call ratio of EQH is 0.27, indicating a bullish outlook.
What are Other Shareholders Doing?
Price T Rowe Associates holds 33,983K shares representing 9.78% ownership of the company. In it's prior filing, the firm reported owning 32,503K shares, representing an increase of 4.36%. The firm increased its portfolio allocation in EQH by 134.88% over the last quarter.
Pzena Investment Management holds 24,452K shares representing 7.04% ownership of the company. In it's prior filing, the firm reported owning 23,480K shares, representing an increase of 3.97%. The firm increased its portfolio allocation in EQH by 10.13% over the last quarter.
Wellington Management Group Llp holds 20,772K shares representing 5.98% ownership of the company. In it's prior filing, the firm reported owning 17,131K shares, representing an increase of 17.53%. The firm increased its portfolio allocation in EQH by 23.77% over the last quarter.
Canada Pension Plan Investment Board holds 18,167K shares representing 5.23% ownership of the company. No change in the last quarter.
VWNDX - Vanguard Windsor Fund Investor Shares holds 13,660K shares representing 3.93% ownership of the company. In it's prior filing, the firm reported owning 11,089K shares, representing an increase of 18.82%. The firm increased its portfolio allocation in EQH by 29.37% over the last quarter.
Equitable Holdings Background Information
(This description is provided by the company.)
Equitable Holdings, Inc. is a financial services holding company comprised of two complementary and well-established principal franchises, Equitable and AllianceBernstein. Founded in 1859, Equitable provides advice, protection and retirement strategies to individuals, families and small businesses. AllianceBernstein is a global investment management firm that offers high-quality research and diversified investment services to institutional investors, individuals and private wealth clients in major world markets. Equitable Holdings has approximately 12,000 employees and financial professionals, $809 billion in assets under management (as of 12/31/2020) and more than five million client relationships globally.
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