Millennium Management LLC Sells 766,912 Shares of Equitable Holdings, Inc. $EQH

Millennium Management LLC lessened its position in Equitable Holdings, Inc. (NYSE:EQH - Free Report) by 41.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,104,954 shares of the company's stock after selling 766,912 shares during the period. Millennium Management LLC owned about 0.36% of Equitable worth $57,557,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in EQH. Atlas Capital Advisors Inc. raised its holdings in shares of Equitable by 310.2% during the first 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 during the last quarter. Oppenheimer & Co. Inc. purchased a new position in shares of Equitable during the first quarter valued at approximately $252,000. Diversified Trust Co raised its holdings in shares of Equitable by 51.5% during the first quarter. Diversified Trust Co now owns 42,276 shares of the company's stock valued at $2,202,000 after purchasing an additional 14,380 shares during the last quarter. OneDigital Investment Advisors LLC purchased a new position in shares of Equitable during the first quarter valued at approximately $255,000. Finally, Asset Management One Co. Ltd. raised its holdings in shares of Equitable by 15.1% during the first quarter. Asset Management One Co. Ltd. now owns 154,482 shares of the company's stock valued at $8,047,000 after purchasing an additional 20,317 shares during the last quarter. Institutional investors own 92.70% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on EQH shares. UBS Group decreased their price objective on shares of Equitable from $77.00 to $75.00 and set a "buy" rating for the company in a report on Tuesday, May 27th. JPMorgan Chase & Co. boosted their price objective on shares of Equitable from $55.00 to $65.00 and gave the company a "neutral" rating in a report on Tuesday, July 8th. Wells Fargo & Company decreased their price objective on shares of Equitable from $66.00 to $63.00 and set an "overweight" rating for the company in a report on Friday, August 8th. Morgan Stanley reduced their target price on shares of Equitable from $68.00 to $67.00 and set an "overweight" rating for the company in a report on Monday, August 18th. Finally, Keefe, Bruyette & Woods upped their target price on shares of Equitable from $63.00 to $64.00 and gave the company an "outperform" rating in a report on Wednesday, July 9th. Nine research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $64.90.

Insider Activity

In other Equitable news, CAO William James Iv Eckert sold 4,000 shares of the company's stock in a transaction that occurred on Friday, June 20th. The shares were 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 $1,052,615.43. This represents a 16.79% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Mark Pearson sold 39,700 shares of the company's stock in a transaction that occurred on 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 of the company's stock, 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. In the last three months, insiders have sold 143,090 shares of company stock valued at $7,549,152. Company insiders own 1.10% of the company's stock.

Equitable Stock Performance

EQH stock traded up $0.19 during midday trading on Friday, reaching $54.10. 2,230,063 shares of the company's stock traded hands, compared to its average volume of 2,663,625. The stock has a market cap of $16.20 billion, a P/E ratio of 43.63 and a beta of 1.16. Equitable Holdings, Inc. has a 52-week low of $39.51 and a 52-week high of $56.61. The stock's 50-day moving average is $52.79 and its 200 day moving average is $52.05. The company has a current ratio of 0.14, a quick ratio of 0.14 and a debt-to-equity ratio of 4.94.

Equitable Announces Dividend

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

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.