Bayforest Capital Ltd Has $335,000 Stake in Equitable Holdings, Inc. (NYSE:EQH)

Key Points

• Bayforest Capital Ltd increased its stake in Equitable Holdings, Inc. by 593.7% in Q1, owning a total of 6,431 shares worth approximately $335,000.
• Equitable's CEO, Mark Pearson, recently sold 30,000 shares of the company's stock, a transaction valued at $1.57 million, which represented a 4.03% decrease in his ownership.
• The company declared a quarterly dividend of $0.27 per share, set to be paid on August 12th, which represents an annualized yield of 2.1%.

Bayforest Capital Ltd lifted its position in shares of Equitable Holdings, Inc. (NYSE:EQH - Free Report) by 593.7% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 6,431 shares of the company's stock after acquiring an additional 5,504 shares during the quarter. Bayforest Capital Ltd's holdings in Equitable were worth $335,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in EQH. Oppenheimer & Co. Inc. bought a new stake in shares of Equitable in the first quarter worth about $252,000. Diversified Trust Co increased its holdings in shares of Equitable by 51.5% in the first quarter. Diversified Trust Co now owns 42,276 shares of the company's stock worth $2,202,000 after acquiring an additional 14,380 shares in the last quarter. OneDigital Investment Advisors LLC bought a new stake in shares of Equitable in the first quarter worth about $255,000. Asset Management One Co. Ltd. increased its holdings in shares of Equitable by 15.1% in the first 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 in the last quarter. Finally, APG Asset Management N.V. bought a new stake in shares of Equitable in the fourth quarter worth about $7,512,000. Institutional investors own 92.70% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on EQH. Evercore ISI reduced their price objective on Equitable from $69.00 to $64.00 and set an "outperform" rating for the company in a research report on Thursday, May 1st. Keefe, Bruyette & Woods upped their price objective on Equitable from $63.00 to $64.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 9th. Morgan Stanley reaffirmed an "overweight" rating and set a $68.00 price objective (up from $67.00) on shares of Equitable in a research report on Monday, July 14th. JPMorgan Chase & Co. upped their price objective on Equitable from $55.00 to $65.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 8th. Finally, Wells Fargo & Company reaffirmed an "overweight" rating and set a $66.00 price objective (up from $61.00) on shares of Equitable in a research report on Thursday, July 10th. One research analyst has rated the stock with a hold rating and nine have given a buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $65.30.

Insider Buying and Selling

In other Equitable news, CAO William James Iv Eckert sold 4,000 shares of the firm's 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 in the company, valued at $1,052,615.43. This trade represents a 16.79% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Nick Lane sold 5,000 shares of the firm's stock in a transaction on Thursday, May 15th. The stock was sold at an average price of $52.91, for a total value of $264,550.00. Following the transaction, the insider owned 139,073 shares in the company, valued at approximately $7,358,352.43. This trade represents a 3.47% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 135,666 shares of company stock worth $7,145,208 in the last quarter. Insiders own 1.10% of the company's stock.

Equitable Stock Performance

Shares of NYSE EQH traded down $1.31 during trading hours on Friday, reaching $50.04. 2,434,208 shares of the stock were exchanged, compared to its average volume of 2,149,513. The firm has a market capitalization of $15.10 billion, a price-to-earnings ratio of 13.60 and a beta of 1.14. The company has a debt-to-equity ratio of 2.39, a quick ratio of 0.10 and a current ratio of 0.10. Equitable Holdings, Inc. has a 52 week low of $36.46 and a 52 week high of $56.61. The stock's fifty day simple moving average is $53.35 and its 200 day simple moving average is $52.17.

Equitable Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 12th. Shareholders of record on Tuesday, August 5th will be paid a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date is Tuesday, August 5th. Equitable's dividend payout ratio (DPR) is 29.35%.

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.