Mackenzie Financial Corp Buys 6,237 Shares of Equitable Holdings, Inc. (NYSE:EQH)

Key Points

• Mackenzie Financial Corp increased its holdings in Equitable Holdings, Inc. by 18.8%, owning 39,478 shares valued at approximately $2,056,000.
• Other institutional investors also made significant adjustments, with Allspring Global Investments increasing its holdings by a staggering 5,536.0%. Meanwhile, insiders sold a total of 135,666 shares worth over $7 million in the last quarter.
• Equitable announced a quarterly dividend of $0.27 per share, representing a yield of 2.2%, with the ex-dividend date set for August 5th.

Mackenzie Financial Corp boosted its holdings in Equitable Holdings, Inc. (NYSE:EQH - Free Report) by 18.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 39,478 shares of the company's stock after purchasing an additional 6,237 shares during the quarter. Mackenzie Financial Corp's holdings in Equitable were worth $2,056,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of EQH. Allspring Global Investments Holdings LLC increased its holdings in shares of Equitable by 5,536.0% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 2,109,113 shares of the company's stock valued at $110,286,000 after purchasing an additional 2,071,691 shares in the last quarter. Alyeska Investment Group L.P. boosted its stake in shares of Equitable by 237.0% during the 4th quarter. Alyeska Investment Group L.P. now owns 1,758,637 shares of the company's stock worth $82,955,000 after purchasing an additional 1,236,799 shares during the last quarter. BNP Paribas Financial Markets acquired a new stake in shares of Equitable in the fourth quarter worth approximately $53,927,000. Man Group plc boosted its position in shares of Equitable by 616.6% in the fourth quarter. Man Group plc now owns 1,245,568 shares of the company's stock worth $58,753,000 after acquiring an additional 1,071,763 shares during the last quarter. Finally, Freestone Grove Partners LP purchased a new position in Equitable in the fourth quarter valued at approximately $48,472,000. Hedge funds and other institutional investors own 92.70% of the company's stock.

Analyst Ratings Changes

A number of research firms have recently issued reports on EQH. Keefe, Bruyette & Woods lifted their price objective on shares of Equitable from $63.00 to $64.00 and gave the company an "outperform" rating in a research note on Wednesday, July 9th. Evercore ISI dropped their price target on shares of Equitable from $69.00 to $64.00 and set an "outperform" rating on the stock in a research report on Thursday, May 1st. UBS Group cut 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. Wells Fargo & Company reissued an "overweight" rating and issued a $66.00 price target (up previously from $61.00) on shares of Equitable in a research note on Thursday, July 10th. Finally, Morgan Stanley reissued an "overweight" rating and issued a $68.00 price objective (up from $67.00) on shares of Equitable in a research report on Monday, July 14th. One equities research analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $65.30.

Equitable Trading Down 0.3%

Equitable stock traded down $0.14 during mid-day trading on Tuesday, hitting $50.85. The stock had a trading volume of 3,164,053 shares, compared to its average volume of 2,299,688. The company has a current ratio of 0.10, a quick ratio of 0.10 and a debt-to-equity ratio of 2.39. Equitable Holdings, Inc. has a 12 month low of $36.78 and a 12 month high of $56.61. The stock has a market capitalization of $15.34 billion, a PE ratio of 13.82 and a beta of 1.14. The stock has a 50-day simple moving average of $53.34 and a two-hundred day simple moving average of $52.17.

Equitable Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, August 12th. Stockholders of record on Tuesday, August 5th will be given a dividend of $0.27 per share. The ex-dividend date of this dividend is Tuesday, August 5th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 2.1%. Equitable's dividend payout ratio (DPR) is currently 29.35%.

Insiders Place Their Bets

In other Equitable news, CAO William James Iv Eckert sold 4,000 shares of the business's stock in a transaction that occurred 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 $1,052,615.43. The trade was a 16.79% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Jeffrey J. Hurd sold 6,666 shares of the business's stock in a transaction that occurred on Thursday, May 15th. The stock was sold at an average price of $52.91, for a total value of $352,698.06. Following the transaction, the chief operating officer directly owned 94,980 shares in the company, valued at $5,025,391.80. This trade represents a 6.56% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 135,666 shares of company stock worth $7,145,208. 1.10% of the stock is owned by company insiders.

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.