Equitable Holdings, Inc. (NYSE:EQH) Shares Acquired by M.D. Sass LLC

Key Points

• M.D. Sass LLC increased its stake in Equitable Holdings by 28.5%, owning a total of 699,064 shares valued at approximately $36.4 million.
• Major institutional investors have also adjusted their positions, with the Bank of Nova Scotia raising its holdings by 255% during the first quarter.
• The company recently announced a quarterly dividend of $0.27, reflecting an annualized dividend of $1.08 and a yield of 2.2%.

M.D. Sass LLC lifted its holdings in Equitable Holdings, Inc. (NYSE:EQH - Free Report) by 28.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 699,064 shares of the company's stock after purchasing an additional 155,196 shares during the period. Equitable comprises about 3.2% of M.D. Sass LLC's portfolio, making the stock its 17th largest holding. M.D. Sass LLC owned 0.23% of Equitable worth $36,414,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of EQH. Oppenheimer & Co. Inc. acquired a new position in shares of Equitable during the 1st quarter worth approximately $252,000. Diversified Trust Co boosted its holdings in shares of Equitable by 51.5% during the 1st quarter. Diversified Trust Co now owns 42,276 shares of the company's stock worth $2,202,000 after purchasing an additional 14,380 shares during the last quarter. OneDigital Investment Advisors LLC acquired a new position in shares of Equitable during the 1st quarter worth approximately $255,000. Asset Management One Co. Ltd. boosted its holdings in shares of Equitable by 15.1% during the 1st quarter. Asset Management One Co. Ltd. now owns 154,482 shares of the company's stock worth $8,047,000 after purchasing an additional 20,317 shares during the last quarter. Finally, APG Asset Management N.V. acquired a new position in shares of Equitable during the 4th quarter worth approximately $7,512,000. Hedge funds and other institutional investors own 92.70% of the company's stock.

Insider Activity at Equitable

In other news, COO Jeffrey J. Hurd sold 6,666 shares of the firm's stock in a transaction that occurred on Thursday, May 15th. The shares were sold at an average price of $52.91, for a total transaction of $352,698.06. Following the completion of the transaction, the chief operating officer directly owned 94,980 shares of the company's stock, valued at $5,025,391.80. This trade represents a 6.56% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Mark Pearson sold 30,000 shares of the firm'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 transaction, the chief executive officer directly owned 714,367 shares of the company's stock, valued at approximately $37,304,244.74. This trade represents a 4.03% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 135,666 shares of company stock valued at $7,145,208. 1.10% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on EQH shares. JPMorgan Chase & Co. upped their price objective on 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 price objective (up previously from $67.00) on shares of Equitable in a research report on Monday, July 14th. Wells Fargo & Company reissued an "overweight" rating and issued a $66.00 target price (up previously from $61.00) on shares of Equitable in a report on Thursday, July 10th. UBS Group decreased their price objective on shares of Equitable from $77.00 to $75.00 and set a "buy" rating for the company in a research note on Tuesday, May 27th. Finally, Keefe, Bruyette & Woods upped 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. One research analyst has rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, Equitable has an average rating of "Moderate Buy" and a consensus target price of $65.30.

Equitable Stock Performance

NYSE EQH traded down $0.24 during trading hours on Tuesday, hitting $50.76. 571,073 shares of the stock were exchanged, compared to its average volume of 2,737,442. The company has a market cap of $15.31 billion, a price-to-earnings ratio of 13.79 and a beta of 1.14. Equitable Holdings, Inc. has a 12-month low of $36.78 and a 12-month high of $56.61. The stock has a 50-day moving average of $53.34 and a 200 day moving average of $52.17. The company has a quick ratio of 0.10, a current ratio of 0.10 and a debt-to-equity ratio of 2.39.

Equitable Announces Dividend

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

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.