Equitable (NYSE:EQH) Shares Gap Down - Time to Sell?

Key Points

• Equitable Holdings, Inc. (NYSE:EQH) experienced a significant drop in stock price, opening at $47.00 after previously closing at $50.93.
• Analysts have mixed ratings on Equitable, with recent price targets ranging from $64.00 to $75.00, and a consensus price target of $65.30.
• The company announced a quarterly dividend of $0.27 per share, representing an annualized dividend of $1.08 and a yield of 2.1%.

Equitable Holdings, Inc. (NYSE:EQH - Get Free Report) gapped down before the market opened on Wednesday . The stock had previously closed at $50.93, but opened at $47.00. Equitable shares last traded at $50.58, with a volume of 556,646 shares traded.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. UBS Group lowered their price objective on Equitable from $77.00 to $75.00 and set a "buy" rating for the company in a research note on Tuesday, May 27th. Morgan Stanley reiterated an "overweight" rating and issued a $68.00 price target (up from $67.00) on shares of Equitable in a research note on Monday, July 14th. Evercore ISI lowered their price target on Equitable from $69.00 to $64.00 and set an "outperform" rating for the company in a report on Thursday, May 1st. JPMorgan Chase & Co. increased their target price on shares of Equitable from $55.00 to $65.00 and gave the stock a "neutral" rating in a report on Tuesday, July 8th. Finally, Wells Fargo & Company restated an "overweight" rating and issued a $66.00 target price (up from $61.00) on shares of Equitable in a research note on Thursday, July 10th. One investment analyst has rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $65.30.

Equitable Trading Down 0.3%

The firm has a 50-day moving average price of $53.28 and a 200-day moving average price of $52.16. The company has a market capitalization of $15.32 billion, a price-to-earnings ratio of 13.77 and a beta of 1.14. The company has a current ratio of 0.10, a quick ratio of 0.10 and a debt-to-equity ratio of 2.39.

Equitable Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 12th. Investors of record on Tuesday, August 5th will be paid a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date of this dividend is Tuesday, August 5th. Equitable's dividend payout ratio (DPR) is presently 29.35%.

Insider Activity

In other Equitable news, CEO Mark Pearson sold 30,000 shares of the firm's stock in a transaction on Tuesday, July 15th. The shares were sold at an average price of $52.22, for a total value of $1,566,600.00. Following the sale, the chief executive officer directly owned 714,367 shares in the company, valued at $37,304,244.74. This trade represents a 4.03% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CAO William James Iv Eckert sold 4,000 shares of the firm's stock in a transaction on Friday, June 20th. The stock was sold at an average price of $53.09, for a total value of $212,360.00. Following the completion of the transaction, the chief accounting officer directly owned 19,827 shares of the company's stock, valued at approximately $1,052,615.43. This trade represents a 16.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 135,666 shares of company stock valued at $7,145,208. 1.10% of the stock is owned by corporate insiders.

Institutional Trading of Equitable

A number of large investors have recently bought and sold shares of the stock. MV Capital Management Inc. acquired a new stake in shares of Equitable during the first quarter worth $26,000. WPG Advisers LLC acquired a new stake in Equitable during the 1st quarter worth approximately $27,000. Bessemer Group Inc. increased its position in shares of Equitable by 111.2% during the fourth quarter. Bessemer Group Inc. now owns 678 shares of the company's stock worth $32,000 after acquiring an additional 357 shares in the last quarter. Orion Capital Management LLC bought a new stake in Equitable in the 1st quarter valued at $33,000. Finally, Geneos Wealth Management Inc. increased its holdings in Equitable by 92.6% during the 1st quarter. Geneos Wealth Management Inc. now owns 882 shares of the company's stock worth $46,000 after purchasing an additional 424 shares in the last quarter. 92.70% of the stock is currently owned by 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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