Equitable Holdings, Inc. (NYSE:EQH) Shares Acquired by Bank of Nova Scotia

Key Points

• Bank of Nova Scotia has significantly increased its stake in Equitable Holdings, Inc. by 255.0% during the first quarter, owning approximately $9.6 million worth of shares.
• Equitable Holdings announced a quarterly dividend of $0.27 per share, with a yield of 2.1%, to be paid on August 12th.
• Equitable's recent stock performance shows it trading at $50.85, down 0.3%, with a market capitalization of $15.34 billion.

Bank of Nova Scotia increased its stake in shares of Equitable Holdings, Inc. (NYSE:EQH - Free Report) by 255.0% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 184,388 shares of the company's stock after buying an additional 132,453 shares during the period. Bank of Nova Scotia owned about 0.06% of Equitable worth $9,605,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. MV Capital Management Inc. purchased a new stake in Equitable during the first quarter worth about $26,000. Bessemer Group Inc. raised its position in 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 during the last quarter. McIlrath & Eck LLC raised its position in Equitable by 154.3% during the fourth quarter. McIlrath & Eck LLC now owns 1,386 shares of the company's stock worth $65,000 after acquiring an additional 841 shares during the last quarter. Wayfinding Financial LLC acquired a new position in Equitable during the first quarter worth about $80,000. Finally, Picton Mahoney Asset Management acquired a new position in Equitable during the first quarter worth about $104,000. Hedge funds and other institutional investors own 92.70% of the company's stock.

Equitable Stock Down 0.3%

NYSE EQH traded down $0.14 during trading hours on Tuesday, reaching $50.85. 3,164,053 shares of the company traded hands, compared to its average volume of 2,299,688. Equitable Holdings, Inc. has a 12 month low of $36.78 and a 12 month high of $56.61. The company has a current ratio of 0.10, a quick ratio of 0.10 and a debt-to-equity ratio of 2.39. The stock has a market capitalization of $15.34 billion, a PE ratio of 13.82 and a beta of 1.14. The company has a 50 day moving average of $53.28 and a two-hundred day moving average of $52.16.

Equitable Announces Dividend

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

Insider Activity at Equitable

In other news, CEO Mark Pearson sold 30,000 shares of the firm's stock in a transaction dated 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 transaction, the chief executive officer directly owned 714,367 shares in the company, valued at approximately $37,304,244.74. This trade represents a 4.03% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO William James Iv Eckert sold 4,000 shares of the firm's stock in a transaction dated Friday, June 20th. The stock was sold at an average price of $53.09, for a total transaction of $212,360.00. Following the completion of the transaction, the chief accounting officer 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 disclosure for this sale can be found here. Over the last quarter, insiders have sold 135,666 shares of company stock valued at $7,145,208. 1.10% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on EQH shares. Wells Fargo & Company reissued an "overweight" rating and issued a $66.00 price objective (up previously from $61.00) on shares of Equitable in a research report on Thursday, July 10th. Evercore ISI dropped their price target on shares of Equitable from $69.00 to $64.00 and set an "outperform" rating for the company in a research report on Thursday, May 1st. JPMorgan Chase & Co. upped their price target on shares of Equitable from $55.00 to $65.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 8th. Keefe, Bruyette & Woods upped their price target on shares of Equitable from $63.00 to $64.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 9th. Finally, UBS Group dropped their price target on shares of Equitable from $77.00 to $75.00 and set a "buy" rating for the company in a research report on Tuesday, May 27th. One research analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, Equitable has a consensus rating of "Moderate Buy" and a consensus price target of $65.30.

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.