Alyeska Investment Group L.P. Lowers Stock Position in Equitable Holdings, Inc. $EQH

Key Points

• Alyeska Investment Group L.P. has significantly reduced its stake in Equitable Holdings, cutting its position by 59.4% to own 714,193 shares, valued at approximately $37.2 million.
• Equitable Holdings recently declared a quarterly dividend of $0.27 per share, representing a dividend yield of 2.0% and a payout ratio of 87.10%.
• Analyst ratings for Equitable vary, with a consensus of "Moderate Buy" and an average target price of $64.90.

Alyeska Investment Group L.P. cut its holdings in shares of Equitable Holdings, Inc. (NYSE:EQH - Free Report) by 59.4% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 714,193 shares of the company's stock after selling 1,044,444 shares during the period. Alyeska Investment Group L.P. owned 0.24% of Equitable worth $37,202,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the business. Atlas Capital Advisors Inc. grew its position in Equitable by 310.2% in the 1st quarter. Atlas Capital Advisors Inc. now owns 17,349 shares of the company's stock valued at $904,000 after buying an additional 13,120 shares during the last quarter. Oppenheimer & Co. Inc. purchased a new position in Equitable in the 1st quarter valued at $252,000. Diversified Trust Co grew its position in Equitable by 51.5% in the 1st quarter. Diversified Trust Co now owns 42,276 shares of the company's stock valued at $2,202,000 after buying an additional 14,380 shares during the last quarter. OneDigital Investment Advisors LLC purchased a new position in Equitable in the 1st quarter valued at $255,000. Finally, Asset Management One Co. Ltd. grew its position in Equitable by 15.1% in the 1st quarter. Asset Management One Co. Ltd. now owns 154,482 shares of the company's stock valued at $8,047,000 after buying an additional 20,317 shares during the last quarter. 92.70% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Keefe, Bruyette & Woods lifted their price objective on shares of Equitable from $63.00 to $64.00 and gave the company an "outperform" rating in a research report on Wednesday, July 9th. Wells Fargo & Company reduced their target price on Equitable from $66.00 to $63.00 and set an "overweight" rating for the company in a report on Friday, August 8th. UBS Group reduced their target price on Equitable from $77.00 to $75.00 and set a "buy" rating for the company in a report on Tuesday, May 27th. Morgan Stanley reduced their target price on Equitable from $68.00 to $67.00 and set an "overweight" rating for the company in a report on Monday, August 18th. Finally, JPMorgan Chase & Co. raised their target price on Equitable from $55.00 to $65.00 and gave the company a "neutral" rating in a report on Tuesday, July 8th. Nine equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $64.90.

Equitable Trading Up 0.1%

NYSE:EQH opened at $52.83 on Thursday. The company has a market capitalization of $15.82 billion, a PE ratio of 42.60 and a beta of 1.16. The company has a quick ratio of 0.14, a current ratio of 0.14 and a debt-to-equity ratio of 4.94. Equitable Holdings, Inc. has a 52-week low of $37.99 and a 52-week high of $56.61. The stock has a fifty day simple moving average of $53.13 and a 200-day simple moving average of $52.10.

Equitable Dividend Announcement

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

Insider Transactions at Equitable

In other news, COO Jeffrey J. Hurd sold 6,790 shares of Equitable stock in a transaction on Friday, August 15th. The stock was sold at an average price of $54.09, for a total transaction of $367,271.10. Following the completion of the transaction, the chief operating officer owned 88,678 shares of the company's stock, valued at $4,796,593.02. The trade was a 7.11% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Bertram L. Scott sold 2,600 shares of Equitable stock in a transaction on Thursday, August 21st. The stock was sold at an average price of $51.86, for a total value of $134,836.00. Following the transaction, the director directly owned 26,001 shares of the company's stock, valued at $1,348,411.86. This trade represents a 9.09% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 143,090 shares of company stock worth $7,549,152. Corporate insiders own 1.10% of the company's stock.

Equitable 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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