Comerica Bank Sells 11,987 Shares of Equitable Holdings, Inc. $EQH

Key Points

• Comerica Bank has reduced its stake in Equitable Holdings, Inc. by 7.0%, owning 159,494 shares valued at approximately $8.3 million.
• Equitable recently announced a quarterly dividend of $0.27, which translates to an annual yield of 2.0% and a payout ratio of 87.10%.
• Analysts have provided mixed ratings for EQH, with nine ratings of "Buy" and one "Hold", while the average price target is set at $64.90.

Comerica Bank lessened its position in shares of Equitable Holdings, Inc. (NYSE:EQH - Free Report) by 7.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 159,494 shares of the company's stock after selling 11,987 shares during the period. Comerica Bank owned approximately 0.05% of Equitable worth $8,308,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of the company. Wellington Management Group LLP grew its position in shares of Equitable by 23.4% during the 1st quarter. Wellington Management Group LLP now owns 10,878,516 shares of the company's stock valued at $566,662,000 after purchasing an additional 2,061,496 shares in the last quarter. Northern Trust Corp grew its position in Equitable by 26.4% during the fourth quarter. Northern Trust Corp now owns 4,242,692 shares of the company's stock worth $200,128,000 after buying an additional 887,123 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Equitable by 15.2% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,558,239 shares of the company's stock worth $120,672,000 after acquiring an additional 337,883 shares during the last quarter. Allspring Global Investments Holdings LLC raised its holdings in shares of Equitable by 5,536.0% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 2,109,113 shares of the company's stock valued at $110,286,000 after acquiring an additional 2,071,691 shares in the last quarter. Finally, Boston Partners bought a new stake in shares of Equitable during the 1st quarter valued at about $108,264,000. 92.70% of the stock is owned by institutional investors.

Equitable Trading Down 1.0%

Shares of EQH stock traded down $0.51 on Tuesday, hitting $52.75. 2,732,948 shares of the company's stock traded hands, compared to its average volume of 3,020,719. The stock has a market capitalization of $15.80 billion, a price-to-earnings ratio of 42.54 and a beta of 1.16. The company's fifty day simple moving average is $53.16 and its 200 day simple moving average is $52.10. Equitable Holdings, Inc. has a one year low of $37.99 and a one year high of $56.61. 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 business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 12th. Stockholders of record on Tuesday, August 5th were issued a $0.27 dividend. The ex-dividend date was Tuesday, August 5th. This represents a $1.08 annualized dividend and a dividend yield of 2.0%. Equitable's payout ratio is currently 87.10%.

Insider Buying and Selling

In other news, CAO William James Iv Eckert sold 4,000 shares of the business's stock in a transaction dated Friday, June 20th. The stock was sold at an average price of $53.09, for a total value of $212,360.00. Following the completion of the sale, the chief accounting officer owned 19,827 shares of the company's stock, valued at approximately $1,052,615.43. The trade was a 16.79% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Jeffrey J. Hurd sold 6,790 shares of the firm's stock in a transaction that occurred on Friday, August 15th. The stock was sold at an average price of $54.09, for a total value of $367,271.10. Following the transaction, the chief operating officer owned 88,678 shares in the company, valued at approximately $4,796,593.02. The trade was a 7.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 143,090 shares of company stock worth $7,549,152 in the last ninety days. Corporate insiders own 1.10% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Wells Fargo & Company cut their price objective on Equitable from $66.00 to $63.00 and set an "overweight" rating for the company in a report on Friday, August 8th. UBS Group dropped their target price 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. Keefe, Bruyette & Woods boosted their price target on shares of Equitable from $63.00 to $64.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 9th. Morgan Stanley lowered their price objective 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. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Equitable from $55.00 to $65.00 and gave the stock a "neutral" rating in a report on Tuesday, July 8th. Nine investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $64.90.

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.