Wellington Management Group LLP Boosts Position in Equitable Holdings, Inc. $EQH

Key Points

• Wellington Management Group LLP increased its stake in Equitable Holdings, Inc. by 23.4%, owning over 10.8 million shares valued at approximately $566.7 million.
• Despite the increase in institutional ownership, several insiders, including the company's CEO, sold shares recently, contributing to a collective 94,000 shares sold in the last three months.
• Equitable Holdings declared a quarterly dividend of $0.27 per share, yielding 2.0% annually, with a payout ratio of 87.10%.

Wellington Management Group LLP boosted its position in shares of Equitable Holdings, Inc. (NYSE:EQH - Free Report) by 23.4% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 10,878,516 shares of the company's stock after acquiring an additional 2,061,496 shares during the quarter. Wellington Management Group LLP owned 3.58% of Equitable worth $566,662,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of EQH. MV Capital Management Inc. purchased a new stake in Equitable during the first quarter valued at $26,000. McIlrath & Eck LLC increased its position in Equitable by 154.3% in the fourth quarter. McIlrath & Eck LLC now owns 1,386 shares of the company's stock worth $65,000 after buying an additional 841 shares in the last quarter. Wayfinding Financial LLC purchased a new stake in Equitable in the first quarter worth about $80,000. Zions Bancorporation National Association UT purchased a new stake in Equitable in the first quarter worth about $86,000. Finally, Picton Mahoney Asset Management purchased a new stake in Equitable in the first quarter worth about $104,000. Hedge funds and other institutional investors own 92.70% of the company's stock.

Insider Buying and Selling

In related news, CAO William James Iv Eckert sold 4,000 shares of the stock in a transaction that occurred on Friday, June 20th. The stock was sold at an average price of $53.09, for a total transaction of $212,360.00. Following the completion of the transaction, the chief accounting officer directly owned 19,827 shares of the company's stock, valued at approximately $1,052,615.43. This represents a 16.79% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Mark Pearson sold 30,000 shares of the stock in a transaction that occurred on Monday, June 16th. The shares were sold at an average price of $53.18, for a total value of $1,595,400.00. Following the transaction, the chief executive officer directly owned 724,367 shares of the company's stock, valued at approximately $38,521,837.06. The trade was a 3.98% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 94,000 shares of company stock valued at $4,940,960. 1.10% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts have commented on EQH shares. Wells Fargo & Company reduced their price target on Equitable from $66.00 to $63.00 and set an "overweight" rating for the company in a research report on Friday, August 8th. UBS Group reduced their price target on Equitable from $77.00 to $75.00 and set a "buy" rating for the company in a research report on Tuesday, May 27th. Morgan Stanley reduced their price target on Equitable from $68.00 to $67.00 and set an "overweight" rating for the company in a research report on Monday. Evercore ISI reduced their price target on Equitable from $69.00 to $64.00 and set an "outperform" rating for the company in a research report on Thursday, May 1st. Finally, JPMorgan Chase & Co. upped their price target on Equitable from $55.00 to $65.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 8th. One equities research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $64.90.

Equitable Stock Performance

NYSE EQH opened at $53.05 on Tuesday. The firm has a market cap of $15.89 billion, a price-to-earnings ratio of 42.79 and a beta of 1.14. 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 business has a 50-day moving average price of $53.19 and a 200-day moving average price of $52.13. Equitable Holdings, Inc. has a twelve month low of $37.99 and a twelve month high of $56.61.

Equitable Announces Dividend

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

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.

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