Equitable (NYSE:EQH) COO Sells 6,790 Shares

Key Points

• Equitable Holdings COO Jeffrey Hurd sold 6,790 shares at an average price of $48.99, totaling approximately $332,642, which reduced his total holdings by 8.29%.
• Equitable's stock is currently priced at $47.16, reflecting a 3.1% drop in midday trading, with a market capitalization of $14.13 billion.
• The company announced a quarterly dividend of $0.27 per share, representing an annualized yield of 2.3% and a payout ratio of 87.10%.

Equitable Holdings, Inc. (NYSE:EQH - Get Free Report) COO Jeffrey Hurd sold 6,790 shares of the business's stock in a transaction dated Wednesday, October 15th. The shares were sold at an average price of $48.99, for a total value of $332,642.10. Following the sale, the chief operating officer directly owned 75,098 shares of the company's stock, valued at approximately $3,679,051.02. This trade represents a 8.29% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

Equitable Trading Down 3.1%

Shares of NYSE EQH traded down $1.50 during midday trading on Thursday, hitting $47.16. The stock had a trading volume of 3,465,395 shares, compared to its average volume of 2,838,551. The company has a market capitalization of $14.13 billion, a price-to-earnings ratio of 38.03 and a beta of 1.10. Equitable Holdings, Inc. has a 1-year low of $41.39 and a 1-year high of $56.61. The company has a quick ratio of 0.14, a current ratio of 0.14 and a debt-to-equity ratio of 4.94. The company has a fifty day moving average price of $52.43 and a 200 day moving average price of $51.95.

Equitable Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, August 12th. Shareholders of record on Tuesday, August 5th were paid a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 2.3%. The ex-dividend date was Tuesday, August 5th. Equitable's payout ratio is currently 87.10%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Keefe, Bruyette & Woods raised their target price on shares of Equitable from $64.00 to $65.00 and gave the company an "outperform" rating in a research note on Thursday, October 9th. Weiss Ratings reissued a "hold (c)" rating on shares of Equitable in a research report on Tuesday. Wells Fargo & Company boosted their price objective on Equitable from $63.00 to $65.00 and gave the stock an "overweight" rating in a research note on Wednesday, October 8th. JPMorgan Chase & Co. increased their target price on Equitable from $55.00 to $65.00 and gave the company a "neutral" rating in a research note on Tuesday, July 8th. Finally, Barclays reiterated an "overweight" rating and set a $63.00 target price on shares of Equitable in a report on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $64.45.

Institutional Investors Weigh In On Equitable

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Pacer Advisors Inc. boosted its stake in shares of Equitable by 157.5% during the 3rd quarter. Pacer Advisors Inc. now owns 39,898 shares of the company's stock valued at $2,026,000 after buying an additional 24,403 shares during the last quarter. Net Worth Advisory Group acquired a new stake in Equitable in the third quarter valued at $274,000. Wedge Capital Management L L P NC boosted its stake in Equitable by 3.0% during the 3rd quarter. Wedge Capital Management L L P NC now owns 69,393 shares of the company's stock valued at $3,524,000 after acquiring an additional 2,014 shares during the last quarter. Dynamic Advisor Solutions LLC grew its holdings in Equitable by 5.0% during the 3rd quarter. Dynamic Advisor Solutions LLC now owns 64,668 shares of the company's stock worth $3,284,000 after acquiring an additional 3,086 shares in the last quarter. Finally, Hilltop National Bank bought a new stake in shares of Equitable in the 3rd quarter worth about $37,000. 92.70% of the stock is currently owned by hedge funds and other institutional investors.

Equitable Company Profile

Equitable Holdings, Inc, together with its consolidated subsidiaries, operates as a diversified financial services company worldwide. The company operates through six segments: Individual Retirement, Group Retirement, Investment Management and Research, Protection Solutions, Wealth Management, and Legacy.

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