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

Hsbc Holdings PLC cut its stake in shares of Equitable Holdings, Inc. (NYSE:EQH - Free Report) by 46.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 465,374 shares of the company's stock after selling 408,588 shares during the quarter. Hsbc Holdings PLC owned 0.17% of Equitable worth $20,377,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Wellington Management Group LLP boosted its position in shares of Equitable by 6.3% in the 2nd quarter. Wellington Management Group LLP now owns 8,784,986 shares of the company's stock valued at $385,485,000 after purchasing an additional 523,638 shares during the period. Livforsakringsbolaget Skandia Omsesidigt purchased a new position in shares of Equitable in the second quarter worth approximately $12,637,000. Empowered Funds LLC acquired a new stake in shares of Equitable during the second quarter valued at approximately $874,000. United Capital Financial Advisors LLC purchased a new stake in shares of Equitable in the 2nd quarter valued at approximately $413,000. Finally, Glazer Capital LLC acquired a new position in Equitable in the 2nd quarter worth approximately $219,000. 92.70% of the stock is owned by institutional investors and hedge funds.

Equitable Price Performance

EQH opened at $51.99 on Wednesday. The stock has a fifty day moving average price of $49.37 and a 200 day moving average price of $43.91. The company has a current ratio of 0.15, a quick ratio of 0.15 and a debt-to-equity ratio of 8.75. Equitable Holdings, Inc. has a 1 year low of $35.19 and a 1 year high of $55.15. The stock has a market cap of $14.20 billion, a price-to-earnings ratio of -15.71, a PEG ratio of 0.52 and a beta of 1.10.

Equitable (NYSE:EQH - Get Free Report) last posted its quarterly earnings results on Tuesday, August 4th. The company reported $1.70 earnings per share for the quarter, topping analysts' consensus estimates of $1.65 by $0.05. The company had revenue of $1.66 billion during the quarter, compared to the consensus estimate of $3.84 billion. Equitable had a positive return on equity of 511.35% and a negative net margin of 8.72%.The business's quarterly revenue was down 29.8% on a year-over-year basis. During the same period last year, the business earned $1.10 EPS. Analysts forecast that Equitable Holdings, Inc. will post 7.18 EPS for the current fiscal year.

Equitable Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, August 10th. Stockholders of record on Monday, August 3rd were paid a dividend of $0.30 per share. The ex-dividend date was Monday, August 3rd. This represents a $1.20 annualized dividend and a dividend yield of 2.3%. Equitable's dividend payout ratio is -36.25%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on EQH shares. Wolfe Research downgraded shares of Equitable from an "outperform" rating to a "peer perform" rating in a research note on Thursday, July 9th. UBS Group raised their target price on Equitable from $63.00 to $68.00 and gave the stock a "buy" rating in a research report on Wednesday, July 8th. Zacks Research raised Equitable from a "strong sell" rating to a "hold" rating in a research report on Monday, June 29th. Weiss Ratings downgraded Equitable from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Wednesday, August 5th. Finally, Barclays raised their price objective on Equitable from $50.00 to $52.00 and gave the stock an "overweight" rating in a research report on Wednesday, August 5th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $61.75.

Insider Buying and Selling at Equitable

In related news, COO Jeffrey Hurd sold 14,358 shares of Equitable stock in a transaction on Monday, June 15th. The shares were sold at an average price of $45.11, for a total value of $647,689.38. Following the completion of the sale, the chief operating officer owned 74,748 shares of the company's stock, valued at approximately $3,371,882.28. The trade was a 16.11% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Craig MacKay sold 2,200 shares of the company's stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $51.37, for a total transaction of $113,014.00. Following the completion of the sale, the director owned 18,999 shares of the company's stock, valued at $975,978.63. This represents a 10.38% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 121,794 shares of company stock worth $5,844,301 in the last ninety days. Company insiders own 1.00% of the company's stock.

Equitable Profile

Equitable Holdings, Inc NYSE: EQH is a leading provider of life insurance, annuities and retirement plan services in the United States. Through its insurance subsidiary, AXA Equitable Life Insurance Company, the firm offers a broad range of permanent and term life insurance products designed to help individuals and families manage risk and build wealth. In addition, Equitable provides fixed, variable and indexed annuity solutions to support income planning in retirement, as well as a suite of group retirement and pension plan services for employers and plan sponsors.

The company also maintains an asset management arm that delivers investment strategies across equities, fixed income and alternative asset classes for both retail and institutional clients.

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