Pzena Investment Management LLC Sells 1,661,147 Shares of Equitable Holdings, Inc. $EQH

Key Points

• Pzena Investment Management LLC sold 1,661,147 shares of Equitable Holdings, reducing its stake by 28.1% to approximately 1.41% of the company, valued at $237.9 million.
• Equitable Holdings recently announced a quarterly dividend of $0.27, translating to an annual yield of 2.2% and a payout ratio of 87.1%.
• Equitable's stock received various analyst ratings, including a "strong-buy" from Wolfe Research, with a consensus target price increasing to $64.45.

Pzena Investment Management LLC reduced its holdings in shares of Equitable Holdings, Inc. (NYSE:EQH - Free Report) by 28.1% in the second quarter, according to its most recent filing with the SEC. The fund owned 4,241,210 shares of the company's stock after selling 1,661,147 shares during the period. Pzena Investment Management LLC owned about 1.41% of Equitable worth $237,932,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Atlas Capital Advisors Inc. increased its holdings in Equitable by 310.2% during the 1st quarter. Atlas Capital Advisors Inc. now owns 17,349 shares of the company's stock worth $904,000 after purchasing an additional 13,120 shares during the period. Oppenheimer & Co. Inc. purchased a new position in Equitable during the 1st quarter worth $252,000. Diversified Trust Co increased its holdings in Equitable by 51.5% during the 1st quarter. Diversified Trust Co now owns 42,276 shares of the company's stock worth $2,202,000 after purchasing an additional 14,380 shares during the period. OneDigital Investment Advisors LLC purchased a new position in Equitable during the 1st quarter worth $255,000. Finally, Asset Management One Co. Ltd. increased its holdings in Equitable by 15.1% during the 1st quarter. Asset Management One Co. Ltd. now owns 154,482 shares of the company's stock worth $8,047,000 after purchasing an additional 20,317 shares during the period. 92.70% of the stock is currently owned by hedge funds and other institutional investors.

Equitable Price Performance

Shares of Equitable stock opened at $48.32 on Monday. The company has a quick ratio of 0.14, a current ratio of 0.14 and a debt-to-equity ratio of 4.94. Equitable Holdings, Inc. has a twelve month low of $41.39 and a twelve month high of $56.61. The business has a 50-day moving average price of $52.54 and a 200 day moving average price of $52.01. The firm has a market cap of $14.47 billion, a PE ratio of 38.97 and a beta of 1.10.

Equitable Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 12th. Investors of record on Tuesday, August 5th were issued a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 2.2%. The ex-dividend date was Tuesday, August 5th. Equitable's payout ratio is presently 87.10%.

Insider Transactions at Equitable

In related news, CFO Robin M. Raju sold 36,888 shares of Equitable stock in a transaction dated Monday, September 22nd. The stock was sold at an average price of $54.00, for a total value of $1,991,952.00. Following the sale, the chief financial officer directly owned 140,258 shares in the company, valued at approximately $7,573,932. The trade was a 20.82% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Mark Pearson sold 39,551 shares of Equitable stock in a transaction dated Thursday, September 18th. The stock was sold at an average price of $54.22, for a total value of $2,144,455.22. Following the completion of the sale, the chief executive officer owned 690,678 shares in the company, valued at approximately $37,448,561.16. The trade was a 5.42% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 192,468 shares of company stock valued at $10,250,470. 1.10% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts have commented on EQH shares. Wolfe Research upgraded Equitable to a "strong-buy" rating in a report on Tuesday, September 16th. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Equitable in a research report on Saturday, September 27th. Wells Fargo & Company increased their target price on Equitable from $63.00 to $65.00 and gave the company an "overweight" rating in a research report on Wednesday, October 8th. Morgan Stanley dropped their target price on Equitable from $67.00 to $61.00 and set an "overweight" rating on the stock in a research report on Tuesday, October 7th. Finally, Evercore ISI raised their price objective on Equitable from $63.00 to $64.00 and gave the stock an "outperform" rating in a research report on Thursday. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $64.45.

Equitable Company 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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