Amundi Sells 534,397 Shares of Equitable Holdings, Inc. $EQH

Key Points

• Amundi has reduced its stake in Equitable Holdings, Inc. by 20.1%, bringing its ownership to approximately 0.70% of the company, valued at $106.7 million.
• Equitable's stock opened at $53.40 and has seen a 1.2% decline, with a 12-month price range between $37.99 and $56.61.
• Equitable recently declared a quarterly dividend of $0.27 per share, resulting in an annualized yield of 2.0%, with an 87.10% payout ratio.

Amundi cut its holdings in shares of Equitable Holdings, Inc. (NYSE:EQH - Free Report) by 20.1% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,125,294 shares of the company's stock after selling 534,397 shares during the period. Amundi owned 0.70% of Equitable worth $106,711,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Atlas Capital Advisors Inc. boosted its stake in shares of Equitable by 310.2% during the 1st quarter. Atlas Capital Advisors Inc. now owns 17,349 shares of the company's stock valued at $904,000 after purchasing an additional 13,120 shares in the last quarter. Oppenheimer & Co. Inc. purchased a new stake in Equitable in the first quarter worth about $252,000. Diversified Trust Co boosted its position in Equitable by 51.5% during the 1st quarter. Diversified Trust Co now owns 42,276 shares of the company's stock valued at $2,202,000 after acquiring an additional 14,380 shares in the last quarter. OneDigital Investment Advisors LLC purchased a new position in shares of Equitable during the 1st quarter worth approximately $255,000. Finally, Asset Management One Co. Ltd. grew its holdings in shares of Equitable by 15.1% during the 1st quarter. Asset Management One Co. Ltd. now owns 154,482 shares of the company's stock worth $8,047,000 after acquiring an additional 20,317 shares during the period. Hedge funds and other institutional investors own 92.70% of the company's stock.

Insiders Place Their Bets

In other news, COO Jeffrey J. Hurd sold 6,790 shares of the business's stock in a transaction on Friday, August 15th. The stock was sold at an average price of $54.09, for a total value of $367,271.10. Following the completion of the transaction, the chief operating officer owned 88,678 shares in the company, valued at $4,796,593.02. The trade was a 7.11% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Mark Pearson sold 39,700 shares of the company's stock in a transaction on Monday, August 18th. The shares were sold at an average price of $53.05, for a total value of $2,106,085.00. Following the transaction, the chief executive officer directly owned 703,029 shares in the company, valued at approximately $37,295,688.45. The trade was a 5.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 143,090 shares of company stock valued at $7,549,152. Insiders own 1.10% of the company's stock.

Equitable Stock Up 2.2%

NYSE:EQH traded up $1.14 on Thursday, reaching $53.86. 2,900,824 shares of the stock traded hands, compared to its average volume of 2,631,908. 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 company has a market capitalization of $16.13 billion, a price-to-earnings ratio of 43.44 and a beta of 1.16. Equitable Holdings, Inc. has a 12 month low of $38.69 and a 12 month high of $56.61. The company's fifty day simple moving average is $52.82 and its 200 day simple moving average is $52.06.

Equitable Announces Dividend

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

Analysts Set New Price Targets

EQH has been the subject of a number of research analyst reports. Wells Fargo & Company lowered their target price on Equitable from $66.00 to $63.00 and set an "overweight" rating for the company in a research note on Friday, August 8th. 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. Keefe, Bruyette & Woods upped their target price on shares of Equitable from $63.00 to $64.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 9th. UBS Group decreased their price target on shares of Equitable from $77.00 to $75.00 and set a "buy" rating for the company in a research note on Tuesday, May 27th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Equitable from $55.00 to $65.00 and gave the company a "neutral" rating in a research report on Tuesday, July 8th. Nine analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat, Equitable presently has an average rating of "Moderate Buy" and an average target price 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.