Entropy Technologies LP Takes Position in Equitable Holdings, Inc. (NYSE:EQH)

Key Points

• Entropy Technologies LP has acquired a new stake in Equitable Holdings, Inc. valued at approximately $915,000, purchasing 17,571 shares during the first quarter.
• Several other institutional investors, including Price T Rowe Associates and Canada Pension Plan Investment Board, have also increased their stakes in Equitable, indicating strong investor interest with 92.70% of the stock owned by institutional investors.
• Equitable's upcoming quarterly dividend will be $0.27 per share, representing an annual yield of 2.0%, with the ex-dividend date set for August 5th.

Entropy Technologies LP bought a new position in shares of Equitable Holdings, Inc. (NYSE:EQH - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 17,571 shares of the company's stock, valued at approximately $915,000.

Several other institutional investors have also bought and sold shares of EQH. MV Capital Management Inc. bought a new position in Equitable during the first quarter valued at $26,000. Bessemer Group Inc. raised its stake in shares of Equitable by 111.2% in the fourth quarter. Bessemer Group Inc. now owns 678 shares of the company's stock valued at $32,000 after acquiring an additional 357 shares during the period. McIlrath & Eck LLC raised its stake in shares of Equitable by 154.3% in the fourth quarter. McIlrath & Eck LLC now owns 1,386 shares of the company's stock valued at $65,000 after acquiring an additional 841 shares during the period. Wayfinding Financial LLC purchased a new stake in shares of Equitable in the first quarter valued at $80,000. Finally, Zions Bancorporation National Association UT purchased a new position in Equitable in the 1st quarter worth about $86,000. Institutional investors own 92.70% of the company's stock.

Insider Transactions at Equitable

In other news, CEO Mark Pearson sold 30,000 shares of the firm's stock in a transaction dated Monday, June 16th. The shares were sold at an average price of $53.18, for a total value of $1,595,400.00. Following the sale, the chief executive officer directly owned 724,367 shares in the company, valued at approximately $38,521,837.06. This trade represents a 3.98% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO William James Iv Eckert sold 4,000 shares of the firm's stock in a transaction dated Friday, June 20th. The shares were sold at an average price of $53.09, for a total transaction of $212,360.00. Following the completion of the sale, the chief accounting officer owned 19,827 shares in the company, valued at $1,052,615.43. This represents a 16.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 94,000 shares of company stock worth $4,940,960 in the last three months. Insiders own 1.10% of the company's stock.

Wall Street Analyst Weigh In

Several research firms recently commented on EQH. JPMorgan Chase & Co. raised 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. Keefe, Bruyette & Woods raised 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. Evercore ISI reduced their price target on shares of Equitable from $69.00 to $64.00 and set an "outperform" rating on the stock in a research note on Thursday, May 1st. Morgan Stanley reaffirmed an "overweight" rating and issued a $68.00 price target (up previously from $67.00) on shares of Equitable in a research note on Monday, July 14th. Finally, Wells Fargo & Company reduced 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. One investment analyst has rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $65.00.

Equitable Stock Down 1.5%

NYSE EQH traded down $0.80 during trading on Friday, reaching $53.84. 3,322,010 shares of the company's stock traded hands, compared to its average volume of 2,786,567. The company has a debt-to-equity ratio of 4.94, a current ratio of 0.14 and a quick ratio of 0.10. The firm has a market cap of $16.13 billion, a price-to-earnings ratio of 43.42 and a beta of 1.14. The company's 50 day simple moving average is $53.22 and its two-hundred day simple moving average is $52.17. Equitable Holdings, Inc. has a 12-month low of $37.99 and a 12-month high of $56.61.

Equitable Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 12th. Shareholders of record on Tuesday, August 5th were given a dividend of $0.27 per share. The ex-dividend date of this dividend was Tuesday, August 5th. This represents a $1.08 dividend on an annualized basis and a yield of 2.0%. Equitable's dividend payout ratio (DPR) is 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.