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On September 30, 2024, Norges Bank, a prominent investment entity based in Oslo, executed a significant transaction involving the shares of Equitable Holdings Inc (NYSE:EQH). The firm reduced its holdings by 688,596 shares, resulting in a new total of 14,745,913 shares. This adjustment reflects a -4.46% change in their position, with the shares priced at $42.03 during the transaction. Despite the reduction, Norges Bank maintains a substantial 4.65% ownership in Equitable Holdings, underscoring the stock's continued relevance in its diversified portfolio.
Profile of Norges Bank
Norges Bank operates from its headquarters at BANKPLASSEN 2, OSLO, and is known for its strategic investment approaches, focusing heavily on technology and financial services sectors. With a robust portfolio that includes top holdings such as Apple Inc (NASDAQ:AAPL) and Amazon.com Inc (NASDAQ:AMZN), the firm manages an equity portfolio worth approximately $669.35 billion. The technology sector, followed by financial services, dominates its investment focus, reflecting a preference for high-growth potential and innovation-driven companies.
About Equitable Holdings Inc
Equitable Holdings Inc, based in the USA, operates as a diversified financial services company. Since its IPO on May 10, 2018, the company has been actively involved in providing variable annuities, tax-deferred investment and retirement plans, and protection solutions across various customer segments. With a market capitalization of $13.65 billion and a stock price of $43.06, Equitable Holdings is currently assessed as modestly undervalued with a GF Value of $47.95.
Impact of the Trade on Norges Bank's Portfolio
The recent transaction by Norges Bank has slightly decreased its exposure to Equitable Holdings, which now represents a 0.09% position in its overall portfolio. This move could be part of a broader strategy to rebalance and optimize the firm's investment allocations in response to shifting market dynamics or internal portfolio performance assessments.
Equitable Holdings' Market Performance
Equitable Holdings has shown a robust performance with a year-to-date price increase of 30.01%. Since its IPO, the stock has surged by 118.03%, reflecting strong market confidence and growth trajectory. The stock's current price-to-GF Value ratio stands at 0.90, indicating that it is trading close to its fair value estimated by GuruFocus.
Comparative Analysis with Other Major Investors
Other significant investors in Equitable Holdings include Pzena Investment Management LLC, T Rowe Price Equity Income Fund (Trades, Portfolio), and Keeley-Teton Advisors, LLC (Trades, Portfolio). Norges Bank's holdings are substantial but not the largest, indicating a balanced and possibly cautious investment approach compared to its peers.