Equitable Holdings, Inc. $EQH Shares Sold by Alliancebernstein L.P.

Key Points

• Alliancebernstein L.P. reduced its stake in Equitable Holdings by 2.9%, owning 314,884 shares worth approximately $16.4 million as of the latest filing.
• Several institutional investors, including Wellington Management Group and AQR Capital Management LLC, significantly increased their stakes in Equitable, with Allspring Global Investments growing its position by 5,536% in the first quarter.
• Equitable recently announced a quarterly dividend of $0.27 per share, resulting in a yield of 2.0% and a current payout ratio of 87.10%.

Alliancebernstein L.P. lessened its holdings in Equitable Holdings, Inc. (NYSE:EQH - Free Report) by 2.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 314,884 shares of the company's stock after selling 9,549 shares during the quarter. Alliancebernstein L.P. owned 0.10% of Equitable worth $16,402,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in the business. BW Gestao de Investimentos Ltda. purchased a new stake in Equitable in the 1st quarter valued at approximately $11,301,000. AQR Capital Management LLC boosted its stake in shares of Equitable by 85.4% during the 1st quarter. AQR Capital Management LLC now owns 1,909,451 shares of the company's stock worth $96,981,000 after acquiring an additional 879,813 shares in the last quarter. Maverick Capital Ltd. boosted its stake in shares of Equitable by 84.0% during the 1st quarter. Maverick Capital Ltd. now owns 14,185 shares of the company's stock worth $739,000 after acquiring an additional 6,476 shares in the last quarter. FJ Capital Management LLC purchased a new stake in shares of Equitable during the 1st quarter worth approximately $711,000. Finally, Royal Bank of Canada boosted its stake in shares of Equitable by 23.7% during the 1st quarter. Royal Bank of Canada now owns 329,454 shares of the company's stock worth $17,162,000 after acquiring an additional 63,162 shares in the last quarter. Hedge funds and other institutional investors own 92.70% of the company's stock.

Equitable Trading Up 1.3%

EQH traded up $0.71 during trading on Wednesday, hitting $53.51. The company's stock had a trading volume of 2,575,458 shares, compared to its average volume of 2,575,551. The firm's 50 day moving average price is $52.73 and its 200-day moving average price is $52.04. The company has a debt-to-equity ratio of 4.94, a current ratio of 0.14 and a quick ratio of 0.14. The stock has a market cap of $16.03 billion, a PE ratio of 43.15 and a beta of 1.16. Equitable Holdings, Inc. has a twelve month low of $40.81 and a twelve month high of $56.61.

Equitable Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. JPMorgan Chase & Co. boosted 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. Keefe, Bruyette & Woods boosted 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. UBS Group decreased 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. Morgan Stanley decreased 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. Finally, Wells Fargo & Company decreased their price target on Equitable from $66.00 to $63.00 and set an "overweight" rating on the stock in a research note on Friday, August 8th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus target price of $64.55.

Insiders Place Their Bets

In other Equitable news, CAO William James Iv Eckert sold 4,000 shares of the business'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 completion of the transaction, the chief accounting officer directly owned 19,827 shares in the company, valued at approximately $1,052,615.43. The trade was a 16.79% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Jeffrey J. Hurd sold 6,790 shares of the business's stock in a transaction on Monday, September 15th. The shares were sold at an average price of $53.69, for a total value of $364,555.10. Following the completion of the transaction, the chief operating officer owned 81,888 shares of the company's stock, valued at $4,396,566.72. This trade represents a 7.66% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 119,880 shares of company stock valued at $6,318,307. 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.