Forsta AP Fonden Buys 105,100 Shares of Equitable Holdings, Inc. (NYSE:EQH)

Key Points

• Forsta AP Fonden increased its stake in Equitable Holdings, Inc. by 171.2%, acquiring an additional 105,100 shares during the 1st quarter, bringing its total ownership to approximately 0.05% of the company.
• Insider transactions included CEO Mark Pearson selling 30,000 shares at an average price of $52.22, resulting in a 4.03% decrease in his ownership stake.
• Equitable announced a quarterly dividend of $0.27 per share, with an upcoming payment date set for August 12th, contributing to an annualized dividend yield of 2.1%.

Forsta AP Fonden increased its holdings in shares of Equitable Holdings, Inc. (NYSE:EQH - Free Report) by 171.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 166,500 shares of the company's stock after acquiring an additional 105,100 shares during the period. Forsta AP Fonden owned approximately 0.05% of Equitable worth $8,673,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the company. 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. 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. Finally, APG Asset Management N.V. purchased a new position in shares of Equitable during the fourth quarter valued at approximately $7,512,000. 92.70% of the stock is owned by hedge funds and other institutional investors.

Equitable Price Performance

Shares of EQH traded up $0.03 during mid-day trading on Thursday, reaching $54.64. The stock had a trading volume of 2,266,485 shares, compared to its average volume of 2,814,531. The firm has a market cap of $16.37 billion, a price-to-earnings ratio of 44.07 and a beta of 1.14. Equitable Holdings, Inc. has a 12 month low of $37.99 and a 12 month high of $56.61. The business has a fifty day moving average of $53.24 and a 200 day moving average of $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.

Equitable Dividend Announcement

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%.

Insider Buying and Selling

In related news, CAO William James Iv Eckert sold 4,000 shares of the company's stock in a transaction on Friday, June 20th. The shares were sold at an average price of $53.09, for a total transaction of $212,360.00. Following the completion of the transaction, the chief accounting officer owned 19,827 shares in the company, valued at approximately $1,052,615.43. This represents a 16.79% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Mark Pearson sold 30,000 shares of the company's stock in a transaction on Monday, June 16th. The stock was sold at an average price of $53.18, for a total transaction of $1,595,400.00. Following the transaction, the chief executive officer owned 724,367 shares of the company's stock, valued at approximately $38,521,837.06. This represents a 3.98% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 94,000 shares of company stock valued at $4,940,960. Company insiders own 1.10% of the company's stock.

Wall Street Analysts Forecast Growth

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

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.