National Bank of Canada FI Sells 84,863 Shares of Equitable Holdings, Inc. (NYSE:EQH)

Key Points

• National Bank of Canada FI significantly reduced its stake in Equitable Holdings, decreasing by 65.9% in the first quarter, resulting in ownership of 43,939 shares valued at approximately $2.29 million.
• In contrast, several other large investors have increased their stakes in Equitable, with Allspring Global Investments Holdings LLC raising its investment by an astounding 5,536.0%.
• Equitable Holdings recently announced a quarterly dividend of $0.27 per share, leading to an annualized dividend yield of 2.0% and a dividend payout ratio of 87.10%.

National Bank of Canada FI cut its stake in shares of Equitable Holdings, Inc. (NYSE:EQH - Free Report) by 65.9% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 43,939 shares of the company's stock after selling 84,863 shares during the quarter. National Bank of Canada FI's holdings in Equitable were worth $2,289,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. MV Capital Management Inc. purchased a new position in Equitable in the 1st quarter worth approximately $26,000. Bessemer Group Inc. lifted its holdings in Equitable by 111.2% in the 4th quarter. Bessemer Group Inc. now owns 678 shares of the company's stock worth $32,000 after purchasing an additional 357 shares in the last quarter. McIlrath & Eck LLC lifted its holdings in Equitable by 154.3% in the 4th quarter. McIlrath & Eck LLC now owns 1,386 shares of the company's stock worth $65,000 after purchasing an additional 841 shares in the last quarter. Wayfinding Financial LLC purchased a new position in Equitable in the 1st quarter worth approximately $80,000. Finally, Picton Mahoney Asset Management purchased a new position in Equitable in the 1st quarter worth approximately $104,000. 92.70% of the stock is currently owned by institutional investors.

Insider Transactions at Equitable

In other news, CAO William James Iv Eckert sold 4,000 shares of the stock in a transaction on Friday, June 20th. The stock was sold at an average price of $53.09, for a total transaction of $212,360.00. Following the transaction, the chief accounting officer owned 19,827 shares of the company's stock, valued at approximately $1,052,615.43. This represents a 16.79% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Mark Pearson sold 30,000 shares of the stock in a transaction on Tuesday, July 15th. The stock was sold at an average price of $52.22, for a total value of $1,566,600.00. Following the transaction, the chief executive officer directly owned 714,367 shares in the company, valued at $37,304,244.74. The trade was a 4.03% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 94,000 shares of company stock valued at $4,940,960 in the last quarter. 1.10% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research analysts recently commented on EQH shares. Keefe, Bruyette & Woods boosted their price target on Equitable from $63.00 to $64.00 and gave the stock an "outperform" rating in a report on Wednesday, July 9th. Evercore ISI decreased their price objective on Equitable from $69.00 to $64.00 and set an "outperform" rating on the stock in a report on Thursday, May 1st. Morgan Stanley reaffirmed an "overweight" rating and set a $68.00 price objective (up from $67.00) on shares of Equitable in a report on Monday, July 14th. UBS Group decreased their price objective on Equitable from $77.00 to $75.00 and set a "buy" rating on the stock in a report on Tuesday, May 27th. Finally, JPMorgan Chase & Co. upped their price objective on Equitable from $55.00 to $65.00 and gave the stock a "neutral" rating in a report on Tuesday, July 8th. One equities research analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $65.00.

Equitable Trading Down 1.5%

NYSE:EQH traded down $0.80 during midday trading on Friday, hitting $53.84. 3,322,010 shares of the company traded hands, compared to its average volume of 2,786,567. The firm's fifty day moving average is $53.22 and its 200-day moving average is $52.16. The firm has a market capitalization of $16.13 billion, a P/E ratio of 43.42 and a beta of 1.14. The company has a current ratio of 0.14, a quick ratio of 0.10 and a debt-to-equity ratio of 4.94. Equitable Holdings, Inc. has a 12-month low of $37.99 and a 12-month high of $56.61.

Equitable Announces Dividend

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

Equitable Company 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.