Ontario Teachers Pension Plan Board Acquires 12,819 Shares of Equitable Holdings, Inc. (NYSE:EQH)

Key Points

• The Ontario Teachers Pension Plan Board increased its holdings in Equitable Holdings, Inc. by 84.1%, owning 28,070 shares valued at approximately $1.46 million.
• Equitable declared a quarterly dividend of $0.27 per share, translating to an annual yield of 2.1% and a payout ratio of 87.10%.
• Institutional investors control 92.70% of Equitable's stock, with various hedge funds recently increasing their positions in the company.

Ontario Teachers Pension Plan Board lifted its position in Equitable Holdings, Inc. (NYSE:EQH - Free Report) by 84.1% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 28,070 shares of the company's stock after purchasing an additional 12,819 shares during the quarter. Ontario Teachers Pension Plan Board's holdings in Equitable were worth $1,462,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in EQH. QRG Capital Management Inc. increased its stake in shares of Equitable by 0.3% in the 1st quarter. QRG Capital Management Inc. now owns 88,561 shares of the company's stock valued at $4,613,000 after buying an additional 260 shares during the period. Colonial Trust Co SC lifted its stake in Equitable by 7.0% in the fourth quarter. Colonial Trust Co SC now owns 4,278 shares of the company's stock valued at $202,000 after buying an additional 278 shares during the period. Fifth Third Bancorp lifted its stake in Equitable by 6.2% in the first quarter. Fifth Third Bancorp now owns 5,145 shares of the company's stock valued at $268,000 after buying an additional 299 shares during the period. Mutual Advisors LLC lifted its stake in Equitable by 5.3% in the first quarter. Mutual Advisors LLC now owns 6,367 shares of the company's stock valued at $316,000 after buying an additional 319 shares during the period. Finally, Wedmont Private Capital lifted its stake in 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 buying an additional 353 shares during the period. Institutional investors own 92.70% of the company's stock.

Equitable Stock Up 2.7%

EQH traded up $1.45 during trading hours on Tuesday, hitting $54.56. 1,992,873 shares of the company's stock were exchanged, compared to its average volume of 2,786,851. Equitable Holdings, Inc. has a 1-year low of $37.99 and a 1-year high of $56.61. The stock's 50-day moving average is $53.16 and its two-hundred day moving average is $52.12. The stock has a market cap of $16.46 billion, a price-to-earnings ratio of 44.01 and a beta of 1.14. The company has a quick ratio of 0.10, a current ratio of 0.09 and a debt-to-equity ratio of 3.13.

Equitable Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, August 12th. Investors of record on Tuesday, August 5th will be paid a $0.27 dividend. The ex-dividend date of this dividend is Tuesday, August 5th. This represents a $1.08 annualized dividend and a dividend yield of 2.0%. Equitable's dividend payout ratio (DPR) is currently 87.10%.

Insider Activity

In related news, COO Jeffrey J. Hurd sold 6,666 shares of the firm's stock in a transaction on Thursday, May 15th. The shares were sold at an average price of $52.91, for a total value of $352,698.06. Following the completion of the transaction, the chief operating officer directly owned 94,980 shares of the company's stock, valued at approximately $5,025,391.80. This trade represents a 6.56% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Mark Pearson sold 30,000 shares of Equitable stock in a transaction that occurred on Tuesday, July 15th. The stock was sold at an average price of $52.22, for a total value of $1,566,600.00. Following the transaction, the chief executive officer owned 714,367 shares of the company's stock, valued at $37,304,244.74. This represents a 4.03% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 135,666 shares of company stock valued at $7,145,208 over the last three months. Corporate insiders own 1.10% of the company's stock.

Analysts Set New Price Targets

EQH has been the topic of several analyst reports. Evercore ISI cut their target price on shares of Equitable from $69.00 to $64.00 and set an "outperform" rating on the stock in a report on Thursday, May 1st. Wells Fargo & Company set a $63.00 target price on shares of Equitable and gave the stock an "overweight" rating in a report on Friday. 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. Morgan Stanley reiterated an "overweight" rating and issued a $68.00 target price (up from $67.00) on shares of Equitable in a report on Monday, July 14th. Finally, 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. One research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $65.00.

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.