Mitsubishi UFJ Trust & Banking Corp Has $14.33 Million Stake in Equitable Holdings, Inc. $EQH

Key Points

• Mitsubishi UFJ Trust & Banking Corp trimmed its stake by 30.2% in Q4, selling 130,161 shares and ending the quarter with 300,699 shares of Equitable worth $14.33 million (about 0.10% of the company).
• Equitable's board authorized a $1.00 billion share buyback (up to ~7.7% of outstanding shares) and the company pays a quarterly dividend of $0.27 (annualized $1.08, ≈2.6% yield).
• Company insiders—including the CEO and COO—have sold stock under Rule 10b5‑1 plans (128,116 shares worth $5.2M in the last 90 days), while analysts hold a consensus “Moderate Buy” rating with an average target of $56.82.

Mitsubishi UFJ Trust & Banking Corp trimmed its position in shares of Equitable Holdings, Inc. (NYSE:EQH - Free Report) by 30.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 300,699 shares of the company's stock after selling 130,161 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp owned approximately 0.10% of Equitable worth $14,328,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also made changes to their positions in the company. Truist Financial Corp lifted its stake in Equitable by 180.7% during the 3rd quarter. Truist Financial Corp now owns 32,820 shares of the company's stock valued at $1,667,000 after acquiring an additional 21,127 shares in the last quarter. Mediolanum International Funds Ltd grew its holdings in shares of Equitable by 26.5% in the third quarter. Mediolanum International Funds Ltd now owns 241,175 shares of the company's stock valued at $12,616,000 after acquiring an additional 50,455 shares in the last quarter. Atlantic Union Bankshares Corp bought a new position in shares of Equitable in the third quarter valued at approximately $1,684,000. Korea Investment CORP grew its holdings in shares of Equitable by 24.9% in the third quarter. Korea Investment CORP now owns 299,391 shares of the company's stock valued at $15,203,000 after acquiring an additional 59,700 shares in the last quarter. Finally, Algebris UK Ltd. grew its holdings in shares of Equitable by 28.6% in the third quarter. Algebris UK Ltd. now owns 712,460 shares of the company's stock valued at $36,151,000 after acquiring an additional 158,488 shares in the last quarter. 92.70% of the stock is currently owned by institutional investors and hedge funds.

Equitable Stock Performance

Shares of EQH stock opened at $42.27 on Friday. The company has a debt-to-equity ratio of 16.42, a quick ratio of 0.13 and a current ratio of 0.13. The firm has a market cap of $11.90 billion, a price-to-earnings ratio of -8.77, a P/E/G ratio of 0.39 and a beta of 1.11. Equitable Holdings, Inc. has a 52 week low of $35.19 and a 52 week high of $56.61. The firm's 50-day simple moving average is $39.39 and its two-hundred day simple moving average is $44.18.

Equitable announced that its Board of Directors has initiated a share repurchase plan on Wednesday, February 11th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the company to reacquire up to 7.7% of its shares through open market purchases. Shares buyback plans are often a sign that the company's board of directors believes its stock is undervalued.

Equitable Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 11th. Stockholders of record on Wednesday, March 4th were paid a dividend of $0.27 per share. The ex-dividend date was Wednesday, March 4th. This represents a $1.08 annualized dividend and a dividend yield of 2.6%. Equitable's dividend payout ratio is presently -22.41%.

Insider Transactions at Equitable

In other Equitable news, COO Jeffrey J. Hurd sold 14,358 shares of the business's stock in a transaction on Wednesday, April 8th. The shares were sold at an average price of $40.04, for a total transaction of $574,894.32. Following the sale, the chief operating officer owned 89,403 shares of the company's stock, valued at $3,579,696.12. The trade was a 13.84% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Mark Pearson sold 39,700 shares of the business's stock in a transaction on Monday, April 20th. The shares were sold at an average price of $41.63, for a total transaction of $1,652,711.00. Following the sale, the chief executive officer directly owned 789,183 shares in the company, valued at $32,853,688.29. The trade was a 4.79% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 128,116 shares of company stock worth $5,205,010. 1.10% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

EQH has been the subject of several recent analyst reports. UBS Group reduced their target price on Equitable from $66.00 to $58.00 and set a "buy" rating for the company in a report on Thursday, April 9th. Zacks Research lowered Equitable from a "hold" rating to a "strong sell" rating in a report on Thursday, January 22nd. Keefe, Bruyette & Woods reduced their target price on Equitable from $53.00 to $51.00 and set an "outperform" rating for the company in a report on Friday, April 10th. JPMorgan Chase & Co. lowered their price objective on shares of Equitable from $58.00 to $57.00 and set an "overweight" rating on the stock in a research report on Wednesday. Finally, Wall Street Zen raised shares of Equitable from a "sell" rating to a "hold" rating in a research report on Saturday, February 28th. Two investment analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have issued a Sell rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $56.82.

Equitable Profile

Equitable Holdings, Inc NYSE: EQH is a leading provider of life insurance, annuities and retirement plan services in the United States. Through its insurance subsidiary, AXA Equitable Life Insurance Company, the firm offers a broad range of permanent and term life insurance products designed to help individuals and families manage risk and build wealth. In addition, Equitable provides fixed, variable and indexed annuity solutions to support income planning in retirement, as well as a suite of group retirement and pension plan services for employers and plan sponsors.

The company also maintains an asset management arm that delivers investment strategies across equities, fixed income and alternative asset classes for both retail and institutional clients.

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