Community Trust & Investment Co. Trims Position in Equitable Holdings, Inc. $EQH

Key Points

• Community Trust & Investment Co. has reduced its stake in Equitable Holdings, Inc. by 7.7%, selling 24,574 shares during the second quarter, leaving it with approximately 0.10% ownership of the company worth $16.5 million.
• Equitable recently declared a quarterly dividend of $0.27 per share, with a current yield of 2.0% and a payout ratio of 87.10%.
• Analysts have provided mixed ratings for the stock, with an average rating of "Buy" and a consensus price target of $64.55, reflecting confidence in the company's growth potential.

Community Trust & Investment Co. lowered its holdings in Equitable Holdings, Inc. (NYSE:EQH - Free Report) by 7.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 294,439 shares of the company's stock after selling 24,574 shares during the period. Community Trust & Investment Co. owned approximately 0.10% of Equitable worth $16,518,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Atlas Capital Advisors Inc. lifted its position in Equitable by 310.2% during the 1st quarter. Atlas Capital Advisors Inc. now owns 17,349 shares of the company's stock worth $904,000 after buying an additional 13,120 shares in the last quarter. Oppenheimer & Co. Inc. bought a new position in Equitable in the 1st quarter worth about $252,000. Diversified Trust Co grew its position in shares of Equitable by 51.5% in the 1st quarter. Diversified Trust Co now owns 42,276 shares of the company's stock worth $2,202,000 after buying an additional 14,380 shares during the last quarter. OneDigital Investment Advisors LLC purchased a new position in shares of Equitable in the first quarter worth $255,000. Finally, Asset Management One Co. Ltd. lifted its position in shares of Equitable by 15.1% in the first quarter. Asset Management One Co. Ltd. now owns 154,482 shares of the company's stock valued at $8,047,000 after acquiring an additional 20,317 shares in the last quarter. 92.70% of the stock is currently owned by institutional investors and hedge funds.

Equitable Stock Down 0.3%

NYSE EQH traded down $0.15 during trading hours on Friday, hitting $54.26. The company's stock had a trading volume of 9,935,784 shares, compared to its average volume of 2,565,813. The company's 50-day simple moving average is $52.77 and its two-hundred day simple moving average is $52.06. The company has a market capitalization of $16.25 billion, a PE ratio of 43.76 and a beta of 1.16. The company has a current ratio of 0.14, a quick ratio of 0.14 and a debt-to-equity ratio of 4.94. Equitable Holdings, Inc. has a 52 week low of $40.81 and a 52 week high of $56.61.

Equitable Dividend Announcement

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 $0.27 dividend. The ex-dividend date was Tuesday, August 5th. This represents a $1.08 annualized dividend and a yield of 2.0%. Equitable's dividend payout ratio (DPR) is presently 87.10%.

Insider Buying and Selling

In other Equitable news, COO Jeffrey J. Hurd sold 6,790 shares of the business's stock in a transaction on Friday, August 15th. The shares were sold at an average price of $54.09, for a total transaction of $367,271.10. Following the sale, the chief operating officer directly owned 88,678 shares in the company, valued at approximately $4,796,593.02. The trade was a 7.11% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Mark Pearson sold 39,700 shares of the firm's stock in a transaction on Monday, August 18th. The stock was sold at an average price of $53.05, for a total value of $2,106,085.00. Following the transaction, the chief executive officer owned 703,029 shares in the company, valued at $37,295,688.45. This trade represents a 5.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 155,580 shares of company stock valued at $8,258,518. Company insiders own 1.10% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on EQH shares. Wolfe Research upgraded Equitable to a "strong-buy" rating in a research report on Tuesday, September 16th. Morgan Stanley lowered their target price on 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 cut 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. JPMorgan Chase & Co. lifted their price target on shares of Equitable from $55.00 to $65.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 8th. Finally, Wells Fargo & Company cut their price target 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. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Buy" and a consensus target price of $64.55.

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.