Equitable Holdings, Inc. (NYSE:EQH) Shares Sold by Charles Schwab Investment Management Inc.

Key Points

• Charles Schwab Investment Management Inc. reduced its stake in Equitable Holdings, Inc. by 1.5%, now holding 2,107,339 shares valued at approximately $109.77 million.
• Several other institutional investors, including Price T Rowe Associates and Northern Trust Corp, have increased their positions in Equitable, indicating ongoing interest from the investment community.
• Equitable recently announced a quarterly dividend of $0.27 per share, translating to an annualized dividend yield of 2.0%, to be paid to investors of record on August 5th.

Charles Schwab Investment Management Inc. cut its position in shares of Equitable Holdings, Inc. (NYSE:EQH - Free Report) by 1.5% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,107,339 shares of the company's stock after selling 31,448 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 0.69% of Equitable worth $109,771,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. MV Capital Management Inc. purchased a new stake in shares of Equitable during the first quarter worth about $26,000. Bessemer Group Inc. grew its holdings in shares of Equitable by 111.2% during the fourth quarter. Bessemer Group Inc. now owns 678 shares of the company's stock worth $32,000 after buying an additional 357 shares in the last quarter. McIlrath & Eck LLC grew its holdings in shares of 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 buying an additional 841 shares in the last quarter. Wayfinding Financial LLC purchased a new stake in shares of Equitable during the first quarter worth about $80,000. Finally, Picton Mahoney Asset Management purchased a new stake in shares of Equitable during the first quarter worth about $104,000. 92.70% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Equitable news, CAO William James Iv Eckert sold 4,000 shares of Equitable stock in a transaction that occurred on Friday, June 20th. The shares were sold at an average price of $53.09, for a total transaction of $212,360.00. Following the transaction, the chief accounting officer directly owned 19,827 shares of the company's stock, valued at $1,052,615.43. The trade was a 16.79% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Mark Pearson sold 30,000 shares of the business's stock in a transaction on Monday, June 16th. The stock was sold at an average price of $53.18, for a total transaction of $1,595,400.00. Following the transaction, the chief executive officer directly owned 724,367 shares in the company, valued at approximately $38,521,837.06. The trade was a 3.98% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 94,000 shares of company stock worth $4,940,960. 1.10% of the stock is currently owned by corporate insiders.

Equitable Trading Down 1.5%

EQH stock traded down $0.80 during midday trading on Friday, reaching $53.84. 3,322,010 shares of the company's stock traded hands, compared to its average volume of 2,786,567. The company has a market capitalization of $16.13 billion, a P/E ratio of 43.42 and a beta of 1.14. The company has a debt-to-equity ratio of 4.94, a current ratio of 0.14 and a quick ratio of 0.10. Equitable Holdings, Inc. has a fifty-two week low of $37.99 and a fifty-two week high of $56.61. The business has a 50-day moving average price of $53.22 and a two-hundred day moving average price of $52.17.

Equitable Announces Dividend

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

Analyst Ratings Changes

A number of research firms recently issued reports on EQH. Keefe, Bruyette & Woods boosted their target price on shares of Equitable from $63.00 to $64.00 and gave the company an "outperform" rating in a report on Wednesday, July 9th. Morgan Stanley restated an "overweight" rating and issued a $68.00 target price (up from $67.00) on shares of Equitable in a report on Monday, July 14th. JPMorgan Chase & Co. boosted their target price on shares of Equitable from $55.00 to $65.00 and gave the company a "neutral" rating in a report on Tuesday, July 8th. Wells Fargo & Company lowered their target price on shares of Equitable from $66.00 to $63.00 and set an "overweight" rating for the company in a report on Friday, August 8th. Finally, UBS Group lowered their target price on shares of Equitable from $77.00 to $75.00 and set a "buy" rating for the company in a report on Tuesday, May 27th. One research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $65.00.

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.