Fintel reports that on July 11, 2023, Morgan Stanley reiterated coverage of Equitable Holdings (NYSE:EQH) with a Overweight recommendation.
Analyst Price Forecast Suggests 35.33% Upside
As of July 6, 2023, the average one-year price target for Equitable Holdings is 37.00. The forecasts range from a low of 29.29 to a high of $45.15. The average price target represents an increase of 35.33% from its latest reported closing price of 27.34.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Equitable Holdings is 13,597MM, a decrease of 0.90%. The projected annual non-GAAP EPS is 6.06.
Equitable Holdings Declares $0.22 Dividend
On May 24, 2023 the company declared a regular quarterly dividend of $0.22 per share ($0.88 annualized). Shareholders of record as of June 5, 2023 received the payment on June 12, 2023. Previously, the company paid $0.20 per share.
At the current share price of $27.34 / share, the stock's dividend yield is 3.22%.
Looking back five years and taking a sample every week, the average dividend yield has been 2.73%, the lowest has been 1.97%, and the highest has been 5.76%. The standard deviation of yields is 0.52 (n=236).
The current dividend yield is 0.93 standard deviations above the historical average.
Additionally, the company's dividend payout ratio is 0.22. 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 882 funds or institutions reporting positions in Equitable Holdings. This is a decrease of 18 owner(s) or 2.00% in the last quarter. Average portfolio weight of all funds dedicated to EQH is 0.31%, a decrease of 5.64%. Total shares owned by institutions decreased in the last three months by 8.10% to 391,427K shares. 
The put/call ratio of EQH is 0.55, indicating a bullish outlook.
What are Other Shareholders Doing?
Price T Rowe Associates holds 32,503K shares representing 9.13% ownership of the company. In it's prior filing, the firm reported owning 32,669K shares, representing a decrease of 0.51%. The firm decreased its portfolio allocation in EQH by 18.09% over the last quarter.
Pzena Investment Management holds 23,480K shares representing 6.59% ownership of the company. In it's prior filing, the firm reported owning 22,606K shares, representing an increase of 3.72%. The firm decreased its portfolio allocation in EQH by 10.39% over the last quarter.
Canada Pension Plan Investment Board holds 18,167K shares representing 5.10% ownership of the company. In it's prior filing, the firm reported owning 18,168K shares, representing a decrease of 0.01%. The firm decreased its portfolio allocation in EQH by 20.96% over the last quarter.
Wellington Management Group Llp holds 17,131K shares representing 4.81% ownership of the company. In it's prior filing, the firm reported owning 19,011K shares, representing a decrease of 10.97%. The firm decreased its portfolio allocation in EQH by 21.21% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 11,189K shares representing 3.14% ownership of the company. In it's prior filing, the firm reported owning 11,228K shares, representing a decrease of 0.34%. The firm decreased its portfolio allocation in EQH by 18.59% 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.
Additional reading:
- (in millions)
- Amendment No. 1 to Amended and Restated Revolving Credit Agreement, dated as of May 12, 2023, among Equitable Holdings, Inc., certain Subsidiary Account Parties, certain Banks and JPMorgan Chase Bank, N.A., as administrative agent.
- Amendment No. 3 to Reimbursement Agreement by and among Equitable Holdings, Inc., the Subsidiary Account Parties (as defined therein) party thereto and Natixis, New York Branch.
- Amendment No. 3 to Reimbursement Agreement by and among Equitable Holdings, Inc., the Subsidiary Account Parties (as defined therein) party thereto and HSBC Bank USA, National Association.
- Amendment No. 3 to Reimbursement Agreement by and among Equitable Holdings, Inc., the Subsidiary Account Parties (as defined therein) party thereto and Citibank Europe PLC.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
