Verdence Capital Advisors LLC Makes New $439,000 Investment in Equitable Holdings, Inc. $EQH

Key Points

• Verdence Capital Advisors LLC invested $439,000 in Equitable Holdings, acquiring 7,825 shares in the second quarter, as disclosed in a recent SEC filing.
• Equitable announced a quarterly dividend of $0.27 per share, resulting in an annualized yield of 2.2%, with a dividend payout ratio of 87.10%.
• Several analysts have raised their price targets for Equitable, with a consensus rating of "Moderate Buy" and an average target price of $64.45.

Verdence Capital Advisors LLC acquired a new position in Equitable Holdings, Inc. (NYSE:EQH - Free Report) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 7,825 shares of the company's stock, valued at approximately $439,000.

Several other large investors have also recently bought and sold shares of the business. Sequoia Financial Advisors LLC purchased a new position in Equitable in the second quarter worth $219,000. Vest Financial LLC increased its position in shares of Equitable by 0.4% in the second quarter. Vest Financial LLC now owns 228,539 shares of the company's stock valued at $12,821,000 after buying an additional 804 shares in the last quarter. Board of the Pension Protection Fund purchased a new position in shares of Equitable in the second quarter valued at $1,588,000. Vanguard Personalized Indexing Management LLC increased its position in shares of Equitable by 11.1% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 37,533 shares of the company's stock valued at $2,106,000 after buying an additional 3,735 shares in the last quarter. Finally, Apollon Wealth Management LLC purchased a new position in shares of Equitable in the second quarter valued at $576,000. Hedge funds and other institutional investors own 92.70% of the company's stock.

Equitable Stock Down 1.9%

EQH opened at $48.66 on Thursday. 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 firm has a market cap of $14.58 billion, a P/E ratio of 39.24 and a beta of 1.10. Equitable Holdings, Inc. has a 52 week low of $41.39 and a 52 week high of $56.61. The business's fifty day simple moving average is $52.43 and its 200 day simple moving average is $51.95.

Equitable Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 12th. Shareholders of record on Tuesday, August 5th were paid a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date of this dividend was Tuesday, August 5th. Equitable's dividend payout ratio (DPR) is presently 87.10%.

Insiders Place Their Bets

In other Equitable news, Director Bertram L. Scott sold 2,600 shares of the firm's stock in a transaction dated Thursday, August 21st. The stock was sold at an average price of $51.86, for a total value of $134,836.00. Following the sale, the director directly owned 26,001 shares of the company's stock, valued at approximately $1,348,411.86. This trade represents a 9.09% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Jeffrey J. Hurd sold 6,790 shares of the firm's stock in a transaction dated Monday, September 15th. The stock was sold at an average price of $53.69, for a total value of $364,555.10. Following the completion of the sale, the chief operating officer directly owned 81,888 shares in the company, valued at approximately $4,396,566.72. The trade was a 7.66% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 132,468 shares of company stock valued at $7,117,270 in the last quarter. Corporate insiders own 1.10% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on EQH shares. Morgan Stanley dropped their price target on Equitable from $67.00 to $61.00 and set an "overweight" rating for the company in a research report on Tuesday, October 7th. Wells Fargo & Company raised their price target on Equitable from $63.00 to $65.00 and gave the company an "overweight" rating in a research report on Wednesday, October 8th. Evercore ISI raised their price target on Equitable from $63.00 to $64.00 and gave the company an "outperform" rating in a research report on Thursday, October 9th. Barclays restated an "overweight" rating and issued a $63.00 price target on shares of Equitable in a research report on Wednesday, October 8th. Finally, Keefe, Bruyette & Woods increased their price objective on Equitable from $64.00 to $65.00 and gave the company an "outperform" rating in a research note on Thursday, October 9th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $64.45.

Equitable 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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