Korea Investment CORP Has $9.60 Million Stock Holdings in Equitable Holdings, Inc. $EQH

Key Points

• Korea Investment Corp has reduced its stake in Equitable Holdings, Inc. by 33.6%, owning about 184,191 shares after selling 93,100 shares in the first quarter.
• CEO Mark Pearson sold 39,700 shares for over $2.1 million, representing a 5.35% decrease in his ownership of the company's stock.
• Equitable has announced a quarterly dividend of $0.27 per share, reflecting an annualized dividend yield of 2.1% with a payout ratio of 87.10%.

Korea Investment CORP reduced its stake in shares of Equitable Holdings, Inc. (NYSE:EQH - Free Report) by 33.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 184,191 shares of the company's stock after selling 93,100 shares during the quarter. Korea Investment CORP owned about 0.06% of Equitable worth $9,595,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the business. MV Capital Management Inc. acquired a new position in shares of Equitable during the first quarter worth about $26,000. McIlrath & Eck LLC increased its stake in shares of Equitable by 154.3% during the fourth quarter. McIlrath & Eck LLC now owns 1,386 shares of the company's stock worth $65,000 after acquiring an additional 841 shares during the period. Wayfinding Financial LLC acquired a new position in Equitable during the first quarter worth about $80,000. Zions Bancorporation National Association UT acquired a new position in Equitable during the first quarter worth about $86,000. Finally, Picton Mahoney Asset Management acquired a new position in Equitable during the first quarter worth about $104,000. 92.70% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

EQH has been the topic of several research analyst reports. 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. 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. Evercore ISI decreased their price target on Equitable from $69.00 to $64.00 and set an "outperform" rating on the stock in a research note on Thursday, May 1st. 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. Finally, JPMorgan Chase & Co. increased 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 assigned a Hold rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $64.90.

Equitable Trading Down 1.3%

NYSE:EQH traded down $0.7150 during trading hours on Monday, reaching $52.8750. 2,228,536 shares of the company were exchanged, compared to its average volume of 2,803,761. 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 firm has a market cap of $15.84 billion, a price-to-earnings ratio of 42.64 and a beta of 1.14. Equitable Holdings, Inc. has a 52-week low of $37.99 and a 52-week high of $56.61. The stock has a 50 day simple moving average of $53.13 and a 200 day simple moving average of $52.11.

Equitable Dividend Announcement

The business 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 of this dividend was Tuesday, August 5th. Equitable's dividend payout ratio (DPR) is currently 87.10%.

Insider Activity at Equitable

In other Equitable news, COO Jeffrey J. Hurd sold 6,790 shares of the firm's stock in a transaction on Friday, August 15th. The shares were sold at an average price of $54.09, for a total transaction of $367,271.10. Following the completion of the transaction, the chief operating officer directly owned 88,678 shares of the company's stock, valued at $4,796,593.02. This trade represents a 7.11% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Mark Pearson sold 39,700 shares of the firm's stock in a transaction dated 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 completion of 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold 143,090 shares of company stock valued at $7,549,152 in the last 90 days. 1.10% of the stock is currently owned by insiders.

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.