Equitable Holdings, Inc. $EQH Shares Sold by Hsbc Holdings PLC

Key Points

• Hsbc Holdings PLC reduced its stake in Equitable Holdings, Inc. by 31.6%, owning approximately 0.41% of the company worth $64,186,000 after selling 576,391 shares.
• Several hedge funds have increased their stakes, including Allspring Global Investments Holdings LLC, which lifted its stake by 5,536.0%, now owning 2,109,113 shares valued at $110,286,000.
• Equitable Holdings announced a quarterly dividend of $0.27 per share, representing an annualized yield of 2.1% and a payout ratio of 87.10%.

Hsbc Holdings PLC cut its stake in Equitable Holdings, Inc. (NYSE:EQH - Free Report) by 31.6% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,244,858 shares of the company's stock after selling 576,391 shares during the period. Hsbc Holdings PLC owned about 0.41% of Equitable worth $64,186,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. MV Capital Management Inc. purchased a new position in Equitable in the first quarter valued at $26,000. McIlrath & Eck LLC raised its stake in 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 buying an additional 841 shares in the last quarter. Wayfinding Financial LLC acquired a new stake in Equitable in the first quarter valued at $80,000. Zions Bancorporation National Association UT acquired a new stake in Equitable in the first quarter valued at $86,000. Finally, Picton Mahoney Asset Management acquired a new stake in Equitable in the first quarter valued at $104,000. 92.70% of the stock is currently owned by hedge funds and other institutional investors.

Equitable Stock Performance

EQH stock traded down $0.7150 during trading on Monday, hitting $52.8750. The company had a trading volume of 2,228,536 shares, compared to its average volume of 2,803,761. The firm has a market cap of $15.84 billion, a PE ratio of 42.64 and a beta of 1.14. Equitable Holdings, Inc. has a 1-year low of $37.99 and a 1-year high of $56.61. The firm has a 50-day moving average price of $53.13 and a 200-day moving average price of $52.11. The company has a quick ratio of 0.14, a current ratio of 0.14 and a debt-to-equity ratio of 4.94.

Equitable Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, August 12th. Investors of record on Tuesday, August 5th were given a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 2.0%. The ex-dividend date was Tuesday, August 5th. Equitable's payout ratio is 87.10%.

Insider Buying and Selling

In other Equitable news, CEO Mark Pearson sold 39,700 shares of the business's stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $53.05, for a total transaction of $2,106,085.00. Following the transaction, the chief executive officer owned 703,029 shares in the company, valued at approximately $37,295,688.45. The trade was a 5.35% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Bertram L. Scott sold 2,600 shares of the business's stock in a transaction that occurred on Thursday, August 21st. The stock was sold at an average price of $51.86, for a total value of $134,836.00. Following the transaction, the director owned 26,001 shares in the company, valued at $1,348,411.86. The trade was a 9.09% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 143,090 shares of company stock worth $7,549,152. Insiders own 1.10% of the company's stock.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. UBS Group cut their price target on Equitable from $77.00 to $75.00 and set a "buy" rating on the stock in a research note on Tuesday, May 27th. Keefe, Bruyette & Woods raised their price target on Equitable from $63.00 to $64.00 and gave the company an "outperform" rating in a research note on Wednesday, July 9th. Evercore ISI lowered their target price on shares of Equitable from $69.00 to $64.00 and set an "outperform" rating for the company in a report on Thursday, May 1st. JPMorgan Chase & Co. raised their price target on Equitable from $55.00 to $65.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 8th. Finally, Morgan Stanley dropped their price target on Equitable from $68.00 to $67.00 and set an "overweight" rating on the stock in a research note on Monday, August 18th. Nine investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat, Equitable currently has an average rating of "Moderate Buy" and a consensus price target of $64.90.

Equitable 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.