Northern Trust Corp Sells 32,676 Shares of Equitable Holdings, Inc. $EQH

Key Points

• Northern Trust Corp has decreased its holdings in Equitable Holdings, Inc. by 0.8%, selling 32,676 shares during the first quarter, now owning approximately 4.21 million shares worth $219.3 million.
• The quarterly dividend of $0.27 per share was recently paid, representing an annualized dividend of $1.08 and yielding 2.1%, with a payout ratio of 87.10%.
• Several hedge funds have increased their stakes in Equitable, including Allspring Global Investments which raised theirs by 5,536.0% to over 2.1 million shares.

Northern Trust Corp cut its holdings in Equitable Holdings, Inc. (NYSE:EQH - Free Report) by 0.8% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 4,210,016 shares of the company's stock after selling 32,676 shares during the quarter. Northern Trust Corp owned about 1.39% of Equitable worth $219,300,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the company. Price T Rowe Associates Inc. MD raised its holdings in Equitable by 2.6% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 21,278,436 shares of the company's stock worth $1,003,705,000 after purchasing an additional 535,671 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Equitable by 15.2% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,558,239 shares of the company's stock worth $120,672,000 after purchasing an additional 337,883 shares during the period. Allspring Global Investments Holdings LLC raised its holdings in Equitable by 5,536.0% in the first 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 during the period. Boston Partners acquired a new stake in Equitable in the first quarter worth $108,264,000. Finally, Nuveen LLC acquired a new stake in Equitable in the first quarter worth $99,319,000. 92.70% of the stock is currently owned by institutional investors and hedge funds.

Equitable Trading Down 0.5%

Shares of NYSE:EQH opened at $51.8260 on Friday. Equitable Holdings, Inc. has a 12 month low of $37.99 and a 12 month high of $56.61. The company has a quick ratio of 0.14, a current ratio of 0.14 and a debt-to-equity ratio of 4.94. The company's fifty day simple moving average is $53.09 and its 200 day simple moving average is $52.12. The firm has a market cap of $15.52 billion, a price-to-earnings ratio of 41.80 and a beta of 1.14.

Equitable Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 12th. Investors of record on Tuesday, August 5th were issued a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date was Tuesday, August 5th. Equitable's dividend payout ratio (DPR) is presently 87.10%.

Insider Buying and Selling at Equitable

In other Equitable news, COO Jeffrey J. Hurd sold 6,790 shares of Equitable stock in a transaction on Friday, August 15th. The shares were sold at an average price of $54.09, for a total value of $367,271.10. Following the sale, the chief operating officer directly owned 88,678 shares in the company, valued at approximately $4,796,593.02. The trade was a 7.11% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Mark Pearson sold 39,700 shares of Equitable stock in a transaction on Monday, August 18th. The shares were sold at an average price of $53.05, for a total transaction of $2,106,085.00. Following the completion of the sale, the chief executive officer owned 703,029 shares in the company, valued at $37,295,688.45. The trade was a 5.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 140,490 shares of company stock worth $7,414,316. Insiders own 1.10% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on EQH shares. UBS Group cut their target price on shares of Equitable from $77.00 to $75.00 and set a "buy" rating on the stock in a report on Tuesday, May 27th. Morgan Stanley cut their target price on shares of Equitable from $68.00 to $67.00 and set an "overweight" rating on the stock in a report on Monday. JPMorgan Chase & Co. increased their target price on shares of Equitable from $55.00 to $65.00 and gave the stock a "neutral" rating in a report on Tuesday, July 8th. Keefe, Bruyette & Woods increased their target price on shares of Equitable from $63.00 to $64.00 and gave the stock an "outperform" rating in a report on Wednesday, July 9th. Finally, Wells Fargo & Company dropped their price objective on shares of Equitable from $66.00 to $63.00 and set an "overweight" rating on the stock in a report on Friday, August 8th. Nine analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, Equitable has an average rating of "Moderate Buy" and a consensus target price of $64.90.

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.

Want to see what other hedge funds are holding EQH? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Equitable Holdings, Inc. (NYSE:EQH - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.