Quarry LP Increases Position in Equitable Holdings, Inc. $EQH

Key Points

• Quarry LP increased its holdings in Equitable Holdings, Inc. by 370%, owning 6,021 shares worth approximately $314,000 after acquiring an additional 4,740 shares in the first quarter.
• Equitable recently declared a quarterly dividend of $0.27 per share, resulting in an annualized dividend of $1.08 and a yield of 2.0%.
• Insider sales included CEO Mark Pearson selling 39,700 shares for about $2.1 million, marking a 5.35% decrease in his ownership in the company.

Quarry LP grew its stake in Equitable Holdings, Inc. (NYSE:EQH - Free Report) by 370.0% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,021 shares of the company's stock after purchasing an additional 4,740 shares during the period. Quarry LP's holdings in Equitable were worth $314,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the stock. Wellington Management Group LLP lifted its stake in shares of Equitable by 23.4% in the 1st quarter. Wellington Management Group LLP now owns 10,878,516 shares of the company's stock valued at $566,662,000 after purchasing an additional 2,061,496 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Equitable by 15.2% in 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 purchasing an additional 337,883 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its stake in shares of Equitable by 5,536.0% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 2,109,113 shares of the company's stock valued at $110,286,000 after purchasing an additional 2,071,691 shares during the last quarter. Boston Partners bought a new stake in shares of Equitable in the 1st quarter valued at approximately $108,264,000. Finally, Nuveen LLC bought a new stake in shares of Equitable in the 1st quarter valued at approximately $99,319,000. 92.70% of the stock is owned by institutional investors.

Insider Transactions at Equitable

In other news, CAO William James Iv Eckert sold 4,000 shares of Equitable 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 directly owned 19,827 shares in the company, valued at approximately $1,052,615.43. This trade represents a 16.79% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Bertram L. Scott sold 2,600 shares of Equitable stock in a transaction on Thursday, August 21st. The shares were sold at an average price of $51.86, for a total value of $134,836.00. Following the completion of the transaction, the director owned 26,001 shares in the company, valued at $1,348,411.86. This represents a 9.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 143,090 shares of company stock valued at $7,549,152. Company insiders own 1.10% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on EQH. 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 note on Friday, August 8th. Keefe, Bruyette & Woods raised their price target on Equitable from $63.00 to $64.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 9th. 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. Morgan Stanley decreased their price target on Equitable from $68.00 to $67.00 and set an "overweight" rating for the company in a research note on Monday, August 18th. Finally, UBS Group decreased their price target on Equitable from $77.00 to $75.00 and set a "buy" rating for the company in a research note on Tuesday, May 27th. Nine analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $64.90.

Equitable Trading Up 0.1%

EQH traded up $0.08 during trading on Wednesday, hitting $52.83. 3,679,889 shares of the stock were exchanged, compared to its average volume of 3,020,719. The firm has a 50 day simple moving average of $53.13 and a 200 day simple moving average of $52.10. The firm has a market cap of $15.82 billion, a price-to-earnings ratio of 42.60 and a beta of 1.16. Equitable Holdings, Inc. has a 1 year low of $37.99 and a 1 year high of $56.61. The company has a debt-to-equity ratio of 4.94, a quick ratio of 0.14 and a current ratio of 0.14.

Equitable Announces Dividend

The company also recently disclosed 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. This represents a $1.08 annualized dividend and a yield of 2.0%. The ex-dividend date was Tuesday, August 5th. Equitable's dividend payout ratio (DPR) is presently 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.