Benson Investment Management Company Inc. Decreases Holdings in Equitable Holdings, Inc. $EQH

Key Points

• Benson Investment Management Company Inc. decreased its holdings in Equitable Holdings, Inc. by 9.8%, selling 12,205 shares and now holds 111,902 shares, valued at approximately $6.28 million.
• Institutional investors own 92.70% of Equitable's stock, with notable recent actions including Geneos Wealth Management Inc. increasing their stake by 92.6%.
• Analysts have mixed opinions on Equitable, with a consensus rating of "Moderate Buy" and an average target price of $64.45.

Benson Investment Management Company Inc. lowered its position in Equitable Holdings, Inc. (NYSE:EQH - Free Report) by 9.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 111,902 shares of the company's stock after selling 12,205 shares during the quarter. Equitable accounts for approximately 2.4% of Benson Investment Management Company Inc.'s holdings, making the stock its 11th biggest holding. Benson Investment Management Company Inc.'s holdings in Equitable were worth $6,278,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. WPG Advisers LLC acquired a new position in Equitable in the 1st quarter worth $27,000. Orion Capital Management LLC acquired a new position in Equitable in the 1st quarter worth $33,000. Geneos Wealth Management Inc. lifted its holdings in Equitable by 92.6% in 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 in the last quarter. BankPlus Trust Department acquired a new position in Equitable in the 2nd quarter worth $75,000. Finally, IFP Advisors Inc lifted its holdings in Equitable by 57.4% in the 2nd quarter. IFP Advisors Inc now owns 1,530 shares of the company's stock worth $86,000 after buying an additional 558 shares in the last quarter. Institutional investors and hedge funds own 92.70% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the stock. Weiss Ratings reissued a "hold (c+)" rating on shares of Equitable in a research report on Saturday, September 27th. Evercore ISI boosted their target price on shares of Equitable from $63.00 to $64.00 and gave the stock an "outperform" rating in a research report on Thursday. Barclays reissued an "overweight" rating and issued a $63.00 target price on shares of Equitable in a research report on Wednesday. Keefe, Bruyette & Woods boosted their target price on shares of Equitable from $64.00 to $65.00 and gave the stock an "outperform" rating in a research report on Thursday. Finally, Wells Fargo & Company boosted their price objective on shares of Equitable from $63.00 to $65.00 and gave the company an "overweight" rating in a research report on Wednesday. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $64.45.

Equitable Stock Performance

Shares of EQH opened at $48.32 on Friday. The company's fifty day moving average is $52.54 and its 200-day moving average is $52.03. Equitable Holdings, Inc. has a 12 month low of $41.39 and a 12 month high of $56.61. The firm has a market cap of $14.47 billion, a price-to-earnings ratio of 38.97 and a beta of 1.10. 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 Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 12th. Investors of record on Tuesday, August 5th were issued a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 2.2%. The ex-dividend date of this dividend was Tuesday, August 5th. Equitable's dividend payout ratio is currently 87.10%.

Insider Activity at Equitable

In other news, CEO Mark Pearson sold 39,551 shares of the stock in a transaction on Thursday, September 18th. The shares were sold at an average price of $54.22, for a total value of $2,144,455.22. Following the completion of the transaction, the chief executive officer owned 690,678 shares in the company, valued at approximately $37,448,561.16. This represents a 5.42% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Bertram L. Scott sold 2,600 shares of the stock in a transaction dated Thursday, August 21st. The stock was sold at an average price of $51.86, for a total transaction of $134,836.00. Following the sale, the director 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. Insiders sold 192,468 shares of company stock valued at $10,250,470 in the last quarter. Company insiders own 1.10% of the company's stock.

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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