Mirae Asset Global Investments Co. Ltd. Has $2.89 Million Stock Position in Equitable Holdings, Inc. $EQH

Key Points

• Mirae Asset Global Investments Co. Ltd. has reduced its stake in Equitable Holdings, Inc. by 44.7%, now holding 51,457 shares valued at approximately $2.89 million.
• The stock has received mixed ratings from analysts, with JPMorgan upping its price target from $55 to $65, while others like Morgan Stanley and Wells Fargo have adjusted their targets downward.
• Equitable recently declared a quarterly dividend of $0.27 per share, resulting in an annualized yield of 2.1%, while insiders have sold significant amounts of stock in recent months.

Mirae Asset Global Investments Co. Ltd. lowered its stake in Equitable Holdings, Inc. (NYSE:EQH - Free Report) by 44.7% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 51,457 shares of the company's stock after selling 41,672 shares during the quarter. Mirae Asset Global Investments Co. Ltd.'s holdings in Equitable were worth $2,887,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of EQH. Merit Financial Group LLC acquired a new stake in shares of Equitable in the first quarter valued at about $338,000. UMB Bank n.a. increased its position in shares of Equitable by 116.4% in the first quarter. UMB Bank n.a. now owns 4,229 shares of the company's stock valued at $220,000 after acquiring an additional 2,275 shares during the last quarter. Wedmont Private Capital increased its position in shares of Equitable by 8.4% in the first quarter. Wedmont Private Capital now owns 4,539 shares of the company's stock valued at $236,000 after acquiring an additional 353 shares during the last quarter. GAMMA Investing LLC increased its position in shares of Equitable by 23.3% in the first quarter. GAMMA Investing LLC now owns 10,371 shares of the company's stock valued at $540,000 after acquiring an additional 1,961 shares during the last quarter. Finally, Livforsakringsbolaget Skandia Omsesidigt increased its position in shares of Equitable by 97.7% in the first quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 127,100 shares of the company's stock valued at $6,621,000 after acquiring an additional 62,800 shares during the last quarter. Institutional investors and hedge funds own 92.70% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. JPMorgan Chase & Co. boosted their price target on Equitable from $55.00 to $65.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 8th. Weiss Ratings reissued a "hold (c+)" rating on shares of Equitable in a research report on Saturday, September 27th. Morgan Stanley lowered their price target on Equitable from $67.00 to $61.00 and set an "overweight" rating on the stock in a research report on Tuesday. Wolfe Research raised Equitable to a "strong-buy" rating in a research report on Tuesday, September 16th. Finally, Wells Fargo & Company lowered their price target on Equitable from $66.00 to $63.00 and set an "overweight" rating on the stock in a research report on Friday, August 8th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $64.00.

Insider Activity

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 value of $2,106,085.00. Following the completion of the transaction, the chief executive officer directly owned 703,029 shares in the company, valued at approximately $37,295,688.45. This represents a 5.35% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Bertram L. Scott sold 2,600 shares of the stock in a transaction on Thursday, August 21st. The shares were sold at an average price of $51.86, for a total value of $134,836.00. Following the completion of the transaction, the director owned 26,001 shares of the company's stock, valued at $1,348,411.86. The trade was a 9.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 192,468 shares of company stock valued at $10,250,470 in the last three months. Company insiders own 1.10% of the company's stock.

Equitable Trading Up 0.0%

Shares of EQH stock opened at $50.96 on Wednesday. The company has a current ratio of 0.14, a quick ratio of 0.14 and a debt-to-equity ratio of 4.94. The stock has a market cap of $15.26 billion, a P/E ratio of 41.09 and a beta of 1.10. The stock has a 50 day simple moving average of $52.61 and a 200 day simple moving average of $52.11. Equitable Holdings, Inc. has a 1 year low of $41.39 and a 1 year high of $56.61.

Equitable Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 12th. Shareholders of record on Tuesday, August 5th were given a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 2.1%. The ex-dividend date was Tuesday, August 5th. Equitable's payout ratio is currently 87.10%.

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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