Corebridge Financial Inc. Trims Position in Equitable Holdings, Inc. $EQH

Key Points

• Corebridge Financial Inc. reduced its holdings in Equitable Holdings, Inc. by 3.5%, owning 345,759 shares worth approximately $18 million after selling 12,439 shares in the first quarter.
• Equitable recently declared a quarterly dividend of $0.27 per share, with a yield of 2.0% and a payout ratio of 87.10%.
• Equitable's stock has seen adjustments in price targets by several brokerages, with a consensus target price of $64.90 and a "Moderate Buy" rating from investment analysts.

Corebridge Financial Inc. lowered its stake in Equitable Holdings, Inc. (NYSE:EQH - Free Report) by 3.5% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 345,759 shares of the company's stock after selling 12,439 shares during the period. Corebridge Financial Inc. owned approximately 0.11% of Equitable worth $18,011,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. MV Capital Management Inc. acquired a new stake in shares of Equitable in the 1st quarter worth $26,000. McIlrath & Eck LLC lifted its stake in shares of Equitable by 154.3% in the 4th 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. Wayfinding Financial LLC purchased a new stake in Equitable in the 1st quarter valued at approximately $80,000. Zions Bancorporation National Association UT purchased a new stake in Equitable in the 1st quarter valued at approximately $86,000. Finally, Picton Mahoney Asset Management purchased a new stake in Equitable in the 1st quarter valued at approximately $104,000. Institutional investors and hedge funds own 92.70% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on EQH shares. JPMorgan Chase & Co. lifted their price objective on Equitable from $55.00 to $65.00 and gave the company a "neutral" rating in a report 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 report on Tuesday, May 27th. Morgan Stanley lowered their price objective on Equitable from $68.00 to $67.00 and set an "overweight" rating on the stock in a report on Monday, August 18th. Keefe, Bruyette & Woods raised their price objective on shares of Equitable from $63.00 to $64.00 and gave the company an "outperform" rating in a research note on Wednesday, July 9th. Finally, Wells Fargo & Company reduced their price objective on shares of Equitable from $66.00 to $63.00 and set an "overweight" rating for the company in a research note on Friday, August 8th. Nine equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $64.90.

Equitable Price Performance

Shares of EQH stock traded up $0.03 during mid-day trading on Friday, reaching $53.27. The stock had a trading volume of 2,445,627 shares, compared to its average volume of 3,168,874. 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 $15.96 billion, a P/E ratio of 42.96 and a beta of 1.14. The business has a 50-day simple moving average of $53.20 and a 200 day simple moving average of $52.12. 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 Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, August 12th. Stockholders 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 dividend on an annualized basis and a dividend yield of 2.0%. Equitable's dividend payout ratio (DPR) is currently 87.10%.

Insider Buying and Selling

In other Equitable news, CAO William James Iv Eckert sold 4,000 shares of the stock in a transaction on Friday, June 20th. The stock was sold at an average price of $53.09, for a total transaction of $212,360.00. Following the sale, the chief accounting officer owned 19,827 shares in the company, valued at approximately $1,052,615.43. This represents a 16.79% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Jeffrey J. Hurd sold 6,790 shares of the stock in a transaction on Friday, August 15th. The shares were sold at an average price of $54.09, for a total value of $367,271.10. Following the sale, the chief operating officer owned 88,678 shares in the company, valued at approximately $4,796,593.02. This trade represents a 7.11% decrease in their position. 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 90 days. Corporate 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.