Algert Global LLC Sells 92,872 Shares of Equitable Holdings, Inc. $EQH

Key Points

• Algert Global LLC has reduced its stake in Equitable Holdings, Inc. by 34.4%, now holding 177,368 shares valued at approximately $9.24 million.
• Equitable recently announced a quarterly dividend of $0.27 per share, equating to an annual yield of 2.0% and a payout ratio of 87.10%.
• Analysts maintain a consensus rating of "Moderate Buy" with an average price target of $65.00, despite recent reductions in price targets by several brokerages.

Algert Global LLC trimmed its holdings in shares of Equitable Holdings, Inc. (NYSE:EQH - Free Report) by 34.4% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 177,368 shares of the company's stock after selling 92,872 shares during the period. Algert Global LLC owned approximately 0.06% of Equitable worth $9,239,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD boosted its stake in shares of Equitable by 2.6% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 21,278,436 shares of the company's stock worth $1,003,705,000 after buying an additional 535,671 shares during the last quarter. First Trust Advisors LP boosted its stake in shares of Equitable by 5.0% in the 4th quarter. First Trust Advisors LP now owns 7,840,415 shares of the company's stock worth $369,832,000 after buying an additional 375,232 shares during the last quarter. Northern Trust Corp boosted its stake in shares of Equitable by 26.4% in the 4th quarter. Northern Trust Corp now owns 4,242,692 shares of the company's stock worth $200,128,000 after buying an additional 887,123 shares during the last quarter. Capital International Investors boosted its stake in shares of Equitable by 24.3% in the 4th quarter. Capital International Investors now owns 2,601,643 shares of the company's stock worth $122,720,000 after buying an additional 508,030 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Equitable by 15.2% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,558,239 shares of the company's stock worth $120,672,000 after buying an additional 337,883 shares during the last quarter. 92.70% of the stock is currently owned by hedge funds and other institutional investors.

Equitable Price Performance

Shares of Equitable stock traded up $1.92 during trading hours on Friday, hitting $53.79. The company's stock had a trading volume of 1,299,354 shares, compared to its average volume of 2,797,704. The business has a 50 day moving average price of $53.09 and a two-hundred day moving average price of $52.12. Equitable Holdings, Inc. has a 12-month low of $37.99 and a 12-month high of $56.61. The company has a market cap of $16.11 billion, a PE ratio of 43.40 and a beta of 1.14. The company has a debt-to-equity ratio of 4.94, a quick ratio of 0.14 and a current ratio of 0.14.

Equitable Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, August 12th. Stockholders of record on Tuesday, August 5th were given a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 2.0%. The ex-dividend date was Tuesday, August 5th. Equitable's payout ratio is presently 87.10%.

Insider Activity

In related news, CAO William James Iv Eckert sold 4,000 shares of the business's stock in a transaction dated Friday, June 20th. The stock was sold at an average price of $53.09, for a total value of $212,360.00. Following the sale, the chief accounting officer directly owned 19,827 shares in the company, valued at approximately $1,052,615.43. The trade was a 16.79% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Mark Pearson sold 39,700 shares of the business's stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $53.05, for a total value of $2,106,085.00. Following the completion of the sale, the chief executive officer owned 703,029 shares in the company, valued at $37,295,688.45. This represents a 5.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 140,490 shares of company stock worth $7,414,316 over the last ninety days. Corporate insiders own 1.10% of the company's stock.

Wall Street Analyst Weigh In

EQH has been the topic of a number of research reports. UBS Group dropped their price target on Equitable from $77.00 to $75.00 and set a "buy" rating on the stock in a research note on Tuesday, May 27th. Evercore ISI lowered their target price on Equitable from $69.00 to $64.00 and set an "outperform" rating on the stock in a research report on Thursday, May 1st. Morgan Stanley lowered their target price on Equitable from $68.00 to $67.00 and set an "overweight" rating on the stock in a research report on Monday. Wells Fargo & Company lowered their target price on Equitable from $66.00 to $63.00 and set an "overweight" rating on the stock in a research report on Friday, August 8th. Finally, Keefe, Bruyette & Woods lifted their target price on Equitable from $63.00 to $64.00 and gave the company an "outperform" rating in a research report on Wednesday, July 9th. Nine research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $64.90.

About Equitable

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.