MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH Sells 178,382 Shares of Equitable Holdings, Inc. $EQH

Key Points

• MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH reduced its stake in Equitable Holdings, Inc. by 75%, selling 178,382 shares in the second quarter.
• Equitable recently declared a quarterly dividend of $0.27 per share, with an 87.10% payout ratio, leading to an annualized dividend of $1.08.
• Despite recent insider sales, analysts generally maintain a Buy consensus rating for Equitable, with a price target averaging $64.55.

MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH cut its stake in shares of Equitable Holdings, Inc. (NYSE:EQH - Free Report) by 75.0% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 59,587 shares of the company's stock after selling 178,382 shares during the quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH's holdings in Equitable were worth $3,343,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Boston Partners purchased a new position in Equitable in the 1st quarter worth approximately $108,264,000. Allspring Global Investments Holdings LLC lifted its holdings in 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 worth $110,286,000 after purchasing an additional 2,071,691 shares in the last quarter. Wellington Management Group LLP lifted its holdings in Equitable by 23.4% in the 1st quarter. Wellington Management Group LLP now owns 10,878,516 shares of the company's stock worth $566,662,000 after purchasing an additional 2,061,496 shares in the last quarter. Nuveen LLC purchased a new position in Equitable in the 1st quarter worth approximately $99,319,000. Finally, AQR Capital Management LLC lifted its holdings in Equitable by 85.4% in the 1st quarter. AQR Capital Management LLC now owns 1,909,451 shares of the company's stock worth $96,981,000 after purchasing an additional 879,813 shares in the last quarter. 92.70% of the stock is currently owned by institutional investors.

Equitable Stock Performance

Shares of Equitable stock opened at $52.69 on Thursday. The stock's fifty day moving average is $52.85 and its two-hundred day moving average is $52.12. The company has a market capitalization of $15.78 billion, a PE ratio of 42.49 and a beta of 1.16. The company has a quick ratio of 0.14, a current ratio of 0.14 and a debt-to-equity ratio of 4.94. Equitable Holdings, Inc. has a 52 week low of $40.81 and a 52 week high of $56.61.

Equitable Dividend Announcement

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

Analysts Set New Price Targets

A number of research analysts recently commented on EQH shares. Wolfe Research raised Equitable to a "strong-buy" rating in a report on Tuesday, September 16th. Morgan Stanley decreased their price objective on Equitable from $68.00 to $67.00 and set an "overweight" rating on the stock in a report on Monday, August 18th. Wells Fargo & Company decreased their price objective on Equitable from $66.00 to $63.00 and set an "overweight" rating on the stock in a report on Friday, August 8th. JPMorgan Chase & Co. upped their price objective on Equitable from $55.00 to $65.00 and gave the stock a "neutral" rating in a report on Tuesday, July 8th. Finally, Keefe, Bruyette & Woods upped their price objective on Equitable from $63.00 to $64.00 and gave the stock an "outperform" rating in a report on Wednesday, July 9th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus price target of $64.55.

Insider Transactions at Equitable

In other news, CEO Mark Pearson sold 39,700 shares of the stock in a transaction on Monday, August 18th. The stock was sold at an average price of $53.05, for a total transaction of $2,106,085.00. Following the transaction, the chief executive officer owned 703,029 shares of the company's stock, valued at approximately $37,295,688.45. This represents a 5.35% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Bertram L. Scott sold 2,600 shares of the company's stock in a transaction on Thursday, August 21st. The stock was sold at an average price of $51.86, for a total value of $134,836.00. Following the sale, the director owned 26,001 shares of the company's stock, valued at $1,348,411.86. This trade represents a 9.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 192,468 shares of company stock worth $10,250,470 over the last quarter. 1.10% of the stock is owned by corporate insiders.

Equitable 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.

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