Cinctive Capital Management LP Sells 21,135 Shares of Equitable Holdings, Inc. $EQH

Key Points

• Cinctive Capital Management LP decreased its stake in Equitable Holdings, Inc. by 26.4%, now holding 58,939 shares valued at approximately $3,070,000 after selling 21,135 shares in the first quarter.
• Equitable recently announced a quarterly dividend of $0.27 per share, offering an annualized dividend yield of 2.0%.
• Analysts have mixed views on the stock, with nine analysts rating it as Buy and a consensus price target set at $64.90.

Cinctive Capital Management LP lessened its holdings in Equitable Holdings, Inc. (NYSE:EQH - Free Report) by 26.4% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 58,939 shares of the company's stock after selling 21,135 shares during the period. Cinctive Capital Management LP's holdings in Equitable were worth $3,070,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of the business. MV Capital Management Inc. purchased a new position in Equitable in the first quarter worth about $26,000. WPG Advisers LLC purchased a new stake in shares of Equitable during the first quarter valued at $27,000. Orion Capital Management LLC purchased a new stake in Equitable in the first quarter valued at $33,000. McIlrath & Eck LLC raised its position in shares of Equitable by 154.3% in 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 period. Finally, Wayfinding Financial LLC acquired a new position in shares of Equitable during the 1st quarter worth about $80,000. Hedge funds and other institutional investors own 92.70% of the company's stock.

Insider Activity at Equitable

In related news, COO Jeffrey J. Hurd sold 6,790 shares of the stock in a transaction that occurred on Friday, August 15th. The stock was sold at an average price of $54.09, for a total transaction of $367,271.10. Following the completion of the transaction, the chief operating officer directly owned 88,678 shares of the company's stock, valued at approximately $4,796,593.02. This represents a 7.11% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Mark Pearson sold 39,700 shares of the business's stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $53.05, for a total transaction of $2,106,085.00. Following the completion of the transaction, the chief executive officer owned 703,029 shares of the company's stock, valued at $37,295,688.45. The trade was a 5.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 143,090 shares of company stock worth $7,549,152 over the last three months. 1.10% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on EQH. Morgan Stanley reduced their price target on shares of Equitable from $68.00 to $67.00 and set an "overweight" rating on the stock in a research report on Monday, August 18th. UBS Group decreased their target price on shares of Equitable from $77.00 to $75.00 and set a "buy" rating on the stock in a research report on Tuesday, May 27th. Wells Fargo & Company dropped their price target on shares of Equitable from $66.00 to $63.00 and set an "overweight" rating on the stock in a research note on Friday, August 8th. Keefe, Bruyette & Woods raised their price objective on shares of Equitable from $63.00 to $64.00 and gave the stock an "outperform" rating in a report on Wednesday, July 9th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Equitable from $55.00 to $65.00 and gave the company a "neutral" rating in a report on Tuesday, July 8th. Nine investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $64.90.

Equitable Trading Up 0.8%

Shares of NYSE:EQH traded up $0.40 during mid-day trading on Wednesday, hitting $53.09. The stock had a trading volume of 625,308 shares, compared to its average volume of 2,792,008. The company's 50 day moving average is $52.92 and its 200-day moving average is $52.06. Equitable Holdings, Inc. has a 12-month low of $37.99 and a 12-month high of $56.61. The company has a market cap of $15.90 billion, a PE ratio of 42.77 and a beta of 1.16. The company has a debt-to-equity ratio of 4.94, a quick ratio of 0.14 and a current ratio of 0.14.

Equitable Announces Dividend

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

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.