American Century Companies Inc. Raises Stake in Equitable Holdings, Inc. $EQH

Key Points

• American Century Companies Inc. raised its stake in Equitable by 22.0%, adding 127,063 shares to hold 704,600 shares worth about $35.78 million (≈0.25% of the company) at quarter-end.
• Equitable's board approved a $1.00 billion share buyback (up to ~7.7% of outstanding stock) and declared a quarterly dividend of $0.27 (annualized $1.08, ~2.7% yield).
• Insiders have been net sellers recently: the CEO sold 39,700 shares and the COO 6,790, and insiders sold 157,280 shares worth about $7.46 million in the past 90 days (insiders now own 1.10%).

American Century Companies Inc. raised its position in Equitable Holdings, Inc. (NYSE:EQH - Free Report) by 22.0% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 704,600 shares of the company's stock after purchasing an additional 127,063 shares during the period. American Century Companies Inc. owned 0.25% of Equitable worth $35,780,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also modified their holdings of EQH. True Wealth Design LLC grew its stake in shares of Equitable by 592.6% during the second quarter. True Wealth Design LLC now owns 561 shares of the company's stock worth $31,000 after purchasing an additional 480 shares in the last quarter. Root Financial Partners LLC acquired a new stake in Equitable in the third quarter valued at $36,000. Hilltop National Bank purchased a new stake in Equitable during the 3rd quarter worth about $37,000. Geneos Wealth Management Inc. lifted 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 buying an additional 424 shares during the last quarter. Finally, MAI Capital Management boosted its position in shares of Equitable by 64.0% during the 2nd quarter. MAI Capital Management now owns 938 shares of the company's stock worth $53,000 after acquiring an additional 366 shares in the last quarter. 92.70% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Equitable

In related news, CEO Mark Pearson sold 39,700 shares of Equitable stock in a transaction dated Tuesday, January 20th. The stock was sold at an average price of $46.20, for a total value of $1,834,140.00. Following the completion of the sale, the chief executive officer directly owned 652,945 shares in the company, valued at $30,166,059. This trade represents a 5.73% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Jeffrey J. Hurd sold 6,790 shares of Equitable stock in a transaction on Thursday, January 15th. The stock was sold at an average price of $47.65, for a total transaction of $323,543.50. Following the sale, the chief operating officer directly owned 55,023 shares of the company's stock, valued at $2,621,845.95. This represents a 10.98% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 157,280 shares of company stock worth $7,455,677. Insiders own 1.10% of the company's stock.

Analyst Upgrades and Downgrades

EQH has been the topic of several research analyst reports. Zacks Research lowered Equitable from a "hold" rating to a "strong sell" rating in a research report on Thursday, January 22nd. Mizuho set a $65.00 price target on shares of Equitable in a research note on Wednesday, January 14th. Wall Street Zen raised shares of Equitable from a "sell" rating to a "hold" rating in a report on Saturday, February 28th. Morgan Stanley lowered their target price on Equitable from $59.00 to $54.00 and set an "overweight" rating on the stock in a research note on Tuesday. Finally, JPMorgan Chase & Co. dropped their target price on Equitable from $60.00 to $58.00 and set an "overweight" rating on the stock in a report on Thursday, February 5th. Two investment analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and two have given a Sell rating to the company. According to data from MarketBeat, Equitable currently has a consensus rating of "Moderate Buy" and a consensus target price of $60.64.

Equitable Trading Down 1.1%

Shares of NYSE:EQH opened at $39.34 on Friday. The company has a quick ratio of 0.13, a current ratio of 0.13 and a debt-to-equity ratio of 16.42. The firm has a market capitalization of $11.03 billion, a P/E ratio of -8.16, a price-to-earnings-growth ratio of 0.31 and a beta of 1.12. Equitable Holdings, Inc. has a 12-month low of $37.51 and a 12-month high of $56.61. The firm has a fifty day moving average of $45.11 and a two-hundred day moving average of $47.83.

Equitable declared that its board has approved a stock buyback plan on Wednesday, February 11th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the company to repurchase up to 7.7% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company's board believes its stock is undervalued.

Equitable Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 11th. Investors of record on Wednesday, March 4th will be issued a $0.27 dividend. The ex-dividend date of this dividend is Wednesday, March 4th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 2.7%. Equitable's dividend payout ratio (DPR) is currently -22.41%.

Equitable Profile

Equitable Holdings, Inc NYSE: EQH is a leading provider of life insurance, annuities and retirement plan services in the United States. Through its insurance subsidiary, AXA Equitable Life Insurance Company, the firm offers a broad range of permanent and term life insurance products designed to help individuals and families manage risk and build wealth. In addition, Equitable provides fixed, variable and indexed annuity solutions to support income planning in retirement, as well as a suite of group retirement and pension plan services for employers and plan sponsors.

The company also maintains an asset management arm that delivers investment strategies across equities, fixed income and alternative asset classes for both retail and institutional clients.

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