Equitable Holdings, Inc. $EQH Shares Purchased by Steamboat Capital Partners LLC

Key Points

• Steamboat Capital Partners LLC significantly increased its holdings in Equitable Holdings by 247.5% during the first quarter, making it the firm's 9th largest position with approximately <$strong>13 million invested.
• Recent insider sales include COO Jeffrey J. Hurd selling 6,790 shares and CEO Mark Pearson offloading 39,700 shares, indicating a decrease in their ownership of the stock.
• Equitable announced a quarterly dividend of $0.27, resulting in a 2.0% dividend yield, while 92.70% of the stock is owned by institutional investors and hedge funds.

Steamboat Capital Partners LLC boosted its position in shares of Equitable Holdings, Inc. (NYSE:EQH - Free Report) by 247.5% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 250,000 shares of the company's stock after purchasing an additional 178,062 shares during the quarter. Equitable comprises about 3.9% of Steamboat Capital Partners LLC's portfolio, making the stock its 9th biggest position. Steamboat Capital Partners LLC owned 0.08% of Equitable worth $13,022,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. MV Capital Management Inc. purchased a new position in Equitable during the 1st quarter worth $26,000. WPG Advisers LLC purchased a new position in shares of Equitable in the 1st quarter valued at $27,000. Orion Capital Management LLC purchased a new position in shares of Equitable in the 1st quarter valued at $33,000. McIlrath & Eck LLC increased its holdings in shares of Equitable by 154.3% in the 4th 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. Finally, Wayfinding Financial LLC purchased a new position in shares of Equitable in the 1st quarter valued at $80,000. 92.70% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on EQH. Keefe, Bruyette & Woods lifted their price target on Equitable from $63.00 to $64.00 and gave the company an "outperform" rating in a report on Wednesday, July 9th. UBS Group lowered their price objective on Equitable from $77.00 to $75.00 and set a "buy" rating for the company in a research report on Tuesday, May 27th. Wells Fargo & Company lowered their price objective on Equitable from $66.00 to $63.00 and set an "overweight" rating for the company in a research report on Friday, August 8th. JPMorgan Chase & Co. raised their price objective on Equitable from $55.00 to $65.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 8th. Finally, Morgan Stanley lowered their price objective on Equitable from $68.00 to $67.00 and set an "overweight" rating for the company in a research report on Monday, August 18th. Nine research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $64.90.

Equitable Price Performance

EQH traded up $0.08 during trading on Wednesday, hitting $52.83. The company's stock had a trading volume of 3,679,889 shares, compared to its average volume of 3,020,719. The company has a current ratio of 0.14, a quick ratio of 0.14 and a debt-to-equity ratio of 4.94. The business's fifty day simple moving average is $53.13 and its 200 day simple moving average is $52.10. The firm has a market capitalization of $15.82 billion, a price-to-earnings ratio of 42.60 and a beta of 1.16. Equitable Holdings, Inc. has a twelve month low of $37.99 and a twelve month high of $56.61.

Equitable Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, August 12th. Shareholders of record on Tuesday, August 5th were issued 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 dividend yield of 2.0%. Equitable's dividend payout ratio is presently 87.10%.

Insider Transactions at Equitable

In related news, CEO Mark Pearson sold 39,700 shares of the stock in a transaction that occurred 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 completion of the transaction, the chief executive officer directly owned 703,029 shares in the company, valued at approximately $37,295,688.45. This represents a 5.35% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO William James Iv Eckert sold 4,000 shares of the company's stock in a transaction on Friday, June 20th. The stock was sold at an average price of $53.09, for a total value of $212,360.00. Following the transaction, the chief accounting officer owned 19,827 shares in the company, valued at $1,052,615.43. This trade represents a 16.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 143,090 shares of company stock worth $7,549,152 over the last three months. 1.10% of the stock is owned by insiders.

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.