Equitable Holdings, Inc. $EQH Holdings Reduced by Concentric Capital Strategies LP

Key Points

• Concentric Capital Strategies LP reduced its stake in Equitable Holdings, Inc. by 27.5%, selling 10,795 shares, and now holds 28,407 shares valued at approximately $1,480,000.
• Several institutional investors, including Ameriprise Financial and Bank of America, have increased their positions in Equitable, demonstrating strong institutional interest with 92.70% of the company's stock owned by institutions.
• Equitable recently announced a quarterly dividend of $0.27 per share, indicating a yield of 2.0% and a high payout ratio of 87.10% as of the latest filing.

Concentric Capital Strategies LP reduced its stake in shares of Equitable Holdings, Inc. (NYSE:EQH - Free Report) by 27.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 28,407 shares of the company's stock after selling 10,795 shares during the quarter. Concentric Capital Strategies LP's holdings in Equitable were worth $1,480,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Wellington Management Group LLP raised its position in shares of Equitable by 23.4% in the first quarter. Wellington Management Group LLP now owns 10,878,516 shares of the company's stock valued at $566,662,000 after buying an additional 2,061,496 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Equitable by 15.2% during 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 valued at $120,672,000 after buying an additional 337,883 shares during the period. Allspring Global Investments Holdings LLC boosted its holdings in shares of Equitable by 5,536.0% in the first quarter. Allspring Global Investments Holdings LLC now owns 2,109,113 shares of the company's stock worth $110,286,000 after buying an additional 2,071,691 shares during the period. Boston Partners acquired a new stake in shares of Equitable during the first quarter worth approximately $108,264,000. Finally, AQR Capital Management LLC lifted its stake in Equitable by 85.4% in the first quarter. AQR Capital Management LLC now owns 1,909,451 shares of the company's stock valued at $96,981,000 after acquiring an additional 879,813 shares during the last quarter. Hedge funds and other institutional investors own 92.70% of the company's stock.

Equitable Stock Performance

Shares of EQH traded down $0.22 during mid-day trading on Monday, hitting $53.16. 2,460,682 shares of the company's stock were exchanged, compared to its average volume of 2,807,713. Equitable Holdings, Inc. has a fifty-two week low of $37.99 and a fifty-two week high of $56.61. The firm has a market capitalization of $15.92 billion, a P/E ratio of 42.87 and a beta of 1.16. The business's 50 day moving average is $53.04 and its two-hundred day moving average is $52.04. 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 Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, August 12th. Stockholders 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 dividend yield of 2.0%. The ex-dividend date was Tuesday, August 5th. Equitable's dividend payout ratio (DPR) is presently 87.10%.

Wall Street Analyst Weigh In

EQH has been the topic of a number of recent research reports. 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 note on Tuesday, July 8th. UBS Group lowered their price objective on 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 decreased their target price on Equitable from $66.00 to $63.00 and set an "overweight" rating on the stock in a research report on Friday, August 8th. Keefe, Bruyette & Woods upped their target price on Equitable from $63.00 to $64.00 and gave the company an "outperform" rating in a report on Wednesday, July 9th. Finally, Morgan Stanley cut their price target on Equitable from $68.00 to $67.00 and set an "overweight" rating on the stock in a report on Monday, August 18th. Nine equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $64.90.

Insider Buying and Selling at Equitable

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 value of $212,360.00. Following the completion of the sale, the chief accounting officer directly 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 Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 of the company's stock, valued at $4,796,593.02. This represents a 7.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 143,090 shares of company stock valued at $7,549,152. Company insiders own 1.10% of the company's stock.

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.