Swiss National Bank Sells 11,500 Shares of Equitable Holdings, Inc. (NYSE:EQH)

Key Points

• The Swiss National Bank reduced its stake in Equitable Holdings by 1.3% during Q1 2023, owning approximately 0.29% of the company with a value of $46 million after selling 11,500 shares.
• Equitable recently declared a quarterly dividend of $0.27 per share, representing an annualized yield of 2.0%, with the payout ratio at 87.10%.
• The company's stock has a current market cap of $16.04 billion, with price targets from various analysts ranging between $63.00 and $75.00, indicating a consensus rating of "Moderate Buy".

Swiss National Bank reduced its position in shares of Equitable Holdings, Inc. (NYSE:EQH - Free Report) by 1.3% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 883,700 shares of the company's stock after selling 11,500 shares during the quarter. Swiss National Bank owned about 0.29% of Equitable worth $46,032,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in EQH. Caisse Des Depots ET Consignations increased its stake in Equitable by 24.4% during the 1st quarter. Caisse Des Depots ET Consignations now owns 105,228 shares of the company's stock worth $5,481,000 after purchasing an additional 20,643 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in Equitable by 0.6% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 246,818 shares of the company's stock worth $12,857,000 after purchasing an additional 1,498 shares in the last quarter. Headlands Technologies LLC increased its stake in Equitable by 15.5% during the 1st quarter. Headlands Technologies LLC now owns 4,303 shares of the company's stock worth $224,000 after purchasing an additional 578 shares in the last quarter. Ontario Teachers Pension Plan Board increased its stake in Equitable by 84.1% during the 1st quarter. Ontario Teachers Pension Plan Board now owns 28,070 shares of the company's stock worth $1,462,000 after purchasing an additional 12,819 shares in the last quarter. Finally, M.D. Sass LLC increased its stake in Equitable by 28.5% during the 1st quarter. M.D. Sass LLC now owns 699,064 shares of the company's stock worth $36,414,000 after purchasing an additional 155,196 shares in the last quarter. 92.70% of the stock is owned by institutional investors.

Equitable Stock Performance

EQH traded down $0.80 during trading hours on Friday, reaching $53.84. The company's stock had a trading volume of 3,322,010 shares, compared to its average volume of 2,786,567. Equitable Holdings, Inc. has a 52 week low of $37.99 and a 52 week high of $56.61. The company's 50-day moving average is $53.22 and its 200-day moving average is $52.17. The company has a debt-to-equity ratio of 4.94, a quick ratio of 0.10 and a current ratio of 0.14. The firm has a market cap of $16.13 billion, a PE ratio of 43.42 and a beta of 1.14.

Equitable Announces Dividend

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

Insiders Place Their Bets

In other Equitable 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 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 filing with the Securities & Exchange Commission, which is available at this hyperlink. 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 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. In the last 90 days, insiders sold 94,000 shares of company stock worth $4,940,960. 1.10% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

EQH has been the subject of a number of research reports. Morgan Stanley reissued an "overweight" rating and set a $68.00 target price (up from $67.00) on shares of Equitable in a research note on Monday, July 14th. JPMorgan Chase & Co. upped their price target on Equitable from $55.00 to $65.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 8th. Evercore ISI reduced their price target 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 target on Equitable from $63.00 to $64.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 9th. Finally, UBS Group reduced their price target on Equitable from $77.00 to $75.00 and set a "buy" rating for the company in a research report on Tuesday, May 27th. One investment analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $65.00.

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.