Equitable Holdings, Inc. (NYSE:EQH) Shares Sold by Invesco Ltd.

Key Points

• Invesco Ltd. has reduced its stake in Equitable Holdings, Inc. by 14.1%, selling 1,138,210 shares in the first quarter, leaving it with ownership of 6,950,836 shares valued at approximately $362 million.
• Several institutional investors have significantly increased their positions in Equitable, with Allspring Global Investments Holdings boosting its holdings by an astounding 5,536% during the same period.
• Equitable's recent stock performance shows a market cap of $16.04 billion and a current share price around $53, with a dividend yield of 2.0% expected from its upcoming quarterly dividend payout.

Invesco Ltd. lessened its position in shares of Equitable Holdings, Inc. (NYSE:EQH - Free Report) by 14.1% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 6,950,836 shares of the company's stock after selling 1,138,210 shares during the quarter. Invesco Ltd. owned approximately 2.29% of Equitable worth $362,069,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in EQH. Price T Rowe Associates Inc. MD raised its stake in Equitable by 2.6% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 21,278,436 shares of the company's stock valued at $1,003,705,000 after purchasing an additional 535,671 shares during the last quarter. Canada Pension Plan Investment Board grew its holdings in shares of Equitable by 0.4% during the 4th quarter. Canada Pension Plan Investment Board now owns 19,032,270 shares of the company's stock worth $897,752,000 after purchasing an additional 79,999 shares during the period. First Trust Advisors LP grew its holdings in shares of Equitable by 5.0% during the 4th quarter. First Trust Advisors LP now owns 7,840,415 shares of the company's stock worth $369,832,000 after purchasing an additional 375,232 shares during the period. Northern Trust Corp grew its holdings in shares of Equitable by 26.4% during the 4th quarter. Northern Trust Corp now owns 4,242,692 shares of the company's stock worth $200,128,000 after purchasing an additional 887,123 shares during the period. Finally, Capital International Investors grew its holdings in shares of Equitable by 24.3% during the 4th quarter. Capital International Investors now owns 2,601,643 shares of the company's stock worth $122,720,000 after purchasing an additional 508,030 shares during the period. Institutional investors and hedge funds own 92.70% of the company's stock.

Insider Activity at Equitable

In related news, CEO Mark Pearson sold 30,000 shares of the company's stock in a transaction that occurred on Tuesday, July 15th. The stock was sold at an average price of $52.22, for a total transaction of $1,566,600.00. Following the sale, the chief executive officer directly owned 714,367 shares of the company's stock, valued at approximately $37,304,244.74. This represents a 4.03% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, 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 value of $212,360.00. Following the completion of the sale, 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 disclosure for this sale can be found here. Over the last three months, insiders have sold 94,000 shares of company stock worth $4,940,960. Corporate insiders own 1.10% of the company's stock.

Equitable Stock Performance

Shares of EQH stock traded down $0.80 on Friday, hitting $53.84. 3,322,010 shares of the stock traded hands, compared to its average volume of 2,786,567. The company has a debt-to-equity ratio of 4.94, a current ratio of 0.14 and a quick ratio of 0.10. The company has a market capitalization of $16.13 billion, a PE ratio of 43.42 and a beta of 1.14. Equitable Holdings, Inc. has a 1-year low of $37.99 and a 1-year high of $56.61. The company's fifty day moving average is $53.22 and its 200 day moving average is $52.17.

Equitable Announces Dividend

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

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. UBS Group decreased their price target on Equitable from $77.00 to $75.00 and set a "buy" rating for the company in a report on Tuesday, May 27th. Keefe, Bruyette & Woods upped 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. Wells Fargo & Company decreased their price target on Equitable from $66.00 to $63.00 and set an "overweight" rating for the company in a report on Friday, August 8th. Morgan Stanley restated an "overweight" rating and issued a $68.00 price target (up previously from $67.00) on shares of Equitable in a report on Monday, July 14th. Finally, JPMorgan Chase & Co. upped their price target on Equitable from $55.00 to $65.00 and gave the stock a "neutral" rating in a report on Tuesday, July 8th. One analyst has rated the stock with a hold rating and nine have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company 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.