OMERS ADMINISTRATION Corp Acquires 29,893 Shares of Equitable Holdings, Inc. $EQH

Key Points

• OMERS ADMINISTRATION Corp increased its stake in Equitable Holdings, Inc. by 212.7% during the first quarter, bringing its total holdings to worth $2.29 million.
• Institutional investors and hedge funds collectively own 92.70% of Equitable's stock, indicating strong interest from large financial players.
• The company announced a quarterly dividend of $0.27 per share, reflecting an annualized yield of 2.0% and a payout ratio of 87.10%.

OMERS ADMINISTRATION Corp boosted its stake in shares of Equitable Holdings, Inc. (NYSE:EQH - Free Report) by 212.7% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 43,945 shares of the company's stock after acquiring an additional 29,893 shares during the period. OMERS ADMINISTRATION Corp's holdings in Equitable were worth $2,289,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Wellington Management Group LLP increased its stake in Equitable by 23.4% during the 1st quarter. Wellington Management Group LLP now owns 10,878,516 shares of the company's stock worth $566,662,000 after acquiring an additional 2,061,496 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Equitable by 15.2% during the 4th 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 acquiring an additional 337,883 shares during the period. Allspring Global Investments Holdings LLC increased its stake in Equitable by 5,536.0% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 2,109,113 shares of the company's stock worth $110,286,000 after acquiring an additional 2,071,691 shares during the period. Boston Partners acquired a new stake in shares of Equitable in the 1st quarter valued at $108,264,000. Finally, Nuveen LLC acquired a new stake in shares of Equitable in the 1st quarter valued at $99,319,000. Institutional investors own 92.70% of the company's stock.

Insiders Place Their Bets

In other news, CEO Mark Pearson sold 39,700 shares of the business's stock in a transaction that occurred 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 transaction, 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO William James Iv Eckert sold 4,000 shares of the business's stock in a transaction that occurred on Friday, June 20th. The stock was sold at an average price of $53.09, for a total value of $212,360.00. Following the completion of the transaction, the chief accounting officer owned 19,827 shares in the company, valued at $1,052,615.43. The trade was a 16.79% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 143,090 shares of company stock worth $7,549,152 over the last 90 days. 1.10% of the stock is currently owned by corporate insiders.

Equitable Stock Up 2.3%

Equitable stock traded up $1.24 during midday trading on Thursday, reaching $54.08. The stock had a trading volume of 1,057,817 shares, compared to its average volume of 2,795,398. Equitable Holdings, Inc. has a 12 month low of $37.99 and a 12 month high of $56.61. The company has a market capitalization of $16.20 billion, a P/E ratio of 43.55 and a beta of 1.16. The company has a fifty day moving average price of $53.13 and a two-hundred day moving average price of $52.10. The company has a current ratio of 0.14, a quick ratio of 0.14 and a debt-to-equity ratio of 4.94.

Equitable Dividend Announcement

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

Wall Street Analysts Forecast Growth

EQH has been the topic of several recent research reports. UBS Group cut their price objective on Equitable from $77.00 to $75.00 and set a "buy" rating on the stock in a report on Tuesday, May 27th. Wells Fargo & Company cut 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. Keefe, Bruyette & Woods raised their price objective on Equitable from $63.00 to $64.00 and gave the company an "outperform" rating in a report on Wednesday, July 9th. Morgan Stanley lowered their target price on Equitable from $68.00 to $67.00 and set an "overweight" rating for the company in a research report on Monday, August 18th. Finally, JPMorgan Chase & Co. raised their target price on Equitable from $55.00 to $65.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 8th. Nine equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target 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.