Cetera Investment Advisers Makes New $2.09 Million Investment in Equitable Holdings, Inc. (NYSE:EQH)

Key Points

• Cetera Investment Advisers has taken a new position in Equitable Holdings, purchasing 40,192 shares valued at approximately $2.09 million.
• Insider selling occurred recently, with CEO Mark Pearson and another insider selling a total of 35,000 shares, resulting in decreases in their respective ownership stakes.
• Equitable announced a quarterly dividend of $0.27 per share, which translates to an annualized dividend of $1.08 and a yield of 2.1%, alongside a strong institutional ownership of 92.70% in the company.

Cetera Investment Advisers acquired a new position in Equitable Holdings, Inc. (NYSE:EQH - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 40,192 shares of the company's stock, valued at approximately $2,094,000.

A number of other institutional investors have also made changes to their positions in the business. MV Capital Management Inc. acquired a new position in Equitable during the first quarter worth $26,000. Bessemer Group Inc. raised its stake in Equitable by 111.2% in the fourth quarter. Bessemer Group Inc. now owns 678 shares of the company's stock valued at $32,000 after purchasing an additional 357 shares in the last quarter. McIlrath & Eck LLC raised its stake in Equitable by 154.3% in the fourth quarter. McIlrath & Eck LLC now owns 1,386 shares of the company's stock valued at $65,000 after purchasing an additional 841 shares in the last quarter. Wayfinding Financial LLC acquired a new position in Equitable in the first quarter valued at about $80,000. Finally, Virtus Investment Advisers Inc. acquired a new position in Equitable during the fourth quarter worth about $123,000. Institutional investors own 92.70% of the company's stock.

Insiders Place Their Bets

In other news, CEO Mark Pearson sold 30,000 shares of the firm's stock in a transaction on Tuesday, July 15th. The stock was sold at an average price of $52.22, for a total transaction of $1,566,600.00. Following the completion of the sale, the chief executive officer directly owned 714,367 shares of the company's stock, valued at $37,304,244.74. This trade represents a 4.03% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO Jeffrey J. Hurd sold 6,666 shares of the stock in a transaction on Thursday, May 15th. The stock was sold at an average price of $52.91, for a total value of $352,698.06. Following the transaction, the chief operating officer owned 94,980 shares of the company's stock, valued at $5,025,391.80. The trade was a 6.56% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 135,666 shares of company stock valued at $7,145,208. 1.10% of the stock is owned by company insiders.

Equitable Stock Up 3.2%

NYSE EQH traded up $1.63 on Friday, reaching $51.96. The company had a trading volume of 3,834,501 shares, compared to its average volume of 2,405,079. The stock has a market capitalization of $15.67 billion, a P/E ratio of 41.91 and a beta of 1.14. The company's fifty day moving average is $53.15 and its 200 day moving average is $52.13. Equitable Holdings, Inc. has a 52-week low of $37.72 and a 52-week high of $56.61. The company has a quick ratio of 0.10, a current ratio of 0.09 and a debt-to-equity ratio of 3.13.

Equitable Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, August 12th. Stockholders of record on Tuesday, August 5th will be given a dividend of $0.27 per share. The ex-dividend date of this dividend is Tuesday, August 5th. This represents a $1.08 annualized dividend and a dividend yield of 2.1%. Equitable's dividend payout ratio (DPR) is currently 87.10%.

Wall Street Analyst Weigh In

EQH has been the subject of several research analyst reports. UBS Group lowered their target price on Equitable from $77.00 to $75.00 and set a "buy" rating for the company in a research note on Tuesday, May 27th. Wells Fargo & Company set a $63.00 target price on Equitable and gave the company an "overweight" rating in a report on Friday. JPMorgan Chase & Co. increased their price target on Equitable from $55.00 to $65.00 and gave the stock a "neutral" rating in a report on Tuesday, July 8th. Evercore ISI cut their price target on Equitable from $69.00 to $64.00 and set an "outperform" rating on the stock in a report on Thursday, May 1st. Finally, Keefe, Bruyette & Woods upped their target price on Equitable from $63.00 to $64.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 9th. One research analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $65.00.

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.