Zurcher Kantonalbank Zurich Cantonalbank Acquires 121,813 Shares of Equitable Holdings, Inc. (NYSE:EQH)

Key Points

• Zurcher Kantonalbank increased its stake in Equitable Holdings by 28.3%, acquiring an additional 121,813 shares, bringing its total ownership to approximately 552,873 shares valued at about $28.8 million.
• Insider trading activity includes CAO William James Iv Eckert selling 4,000 shares and insider Nick Lane selling 5,000 shares, both resulting in notable decreases in their ownership percentages.
• Equitable announced a quarterly dividend of $0.27 per share, reflecting an annualized yield of 2.05%, and has a consensus rating of "Moderate Buy" among analysts.

Zurcher Kantonalbank Zurich Cantonalbank raised its position in Equitable Holdings, Inc. (NYSE:EQH - Free Report) by 28.3% during the first quarter, according to its most recent filing with the SEC. The firm owned 552,873 shares of the company's stock after purchasing an additional 121,813 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank owned 0.18% of Equitable worth $28,799,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently modified their holdings of EQH. MV Capital Management Inc. acquired a new position in shares of Equitable during the 1st quarter valued at $26,000. Bessemer Group Inc. lifted its position in shares of Equitable by 111.2% during the 4th quarter. Bessemer Group Inc. now owns 678 shares of the company's stock valued at $32,000 after acquiring an additional 357 shares during the period. Mizuho Bank Ltd. lifted its position in shares of Equitable by 61.4% during the 4th quarter. Mizuho Bank Ltd. now owns 1,130 shares of the company's stock valued at $53,000 after acquiring an additional 430 shares during the period. McIlrath & Eck LLC lifted its position in shares of Equitable by 154.3% during the 4th quarter. McIlrath & Eck LLC now owns 1,386 shares of the company's stock valued at $65,000 after acquiring an additional 841 shares during the period. Finally, Wayfinding Financial LLC acquired a new position in shares of Equitable during the 1st quarter valued at $80,000. Institutional investors and hedge funds own 92.70% of the company's stock.

Equitable Stock Up 2.4%

Shares of NYSE EQH traded up $1.19 during trading on Thursday, hitting $51.59. The stock had a trading volume of 683,069 shares, compared to its average volume of 2,742,506. Equitable Holdings, Inc. has a 12 month low of $36.46 and a 12 month high of $56.61. The company has a debt-to-equity ratio of 2.39, a current ratio of 0.10 and a quick ratio of 0.10. The company has a market capitalization of $15.56 billion, a PE ratio of 14.02 and a beta of 1.15. The firm has a fifty day moving average of $53.40 and a two-hundred day moving average of $52.15.

Equitable (NYSE:EQH - Get Free Report) last posted its quarterly earnings results on Tuesday, April 29th. The company reported $1.35 earnings per share for the quarter, missing the consensus estimate of $1.49 by ($0.14). Equitable had a net margin of 8.50% and a return on equity of 79.05%. The company had revenue of $4.58 billion for the quarter, compared to the consensus estimate of $4.05 billion. During the same quarter in the previous year, the company posted $1.43 EPS. Equitable's quarterly revenue was up 105.2% compared to the same quarter last year. As a group, equities research analysts forecast that Equitable Holdings, Inc. will post 7.33 EPS for the current fiscal year.

Equitable Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 12th. Investors of record on Tuesday, August 5th will be issued a dividend of $0.27 per share. The ex-dividend date is Tuesday, August 5th. This represents a $1.08 dividend on an annualized basis and a yield of 2.09%. Equitable's dividend payout ratio (DPR) is presently 29.35%.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. Wells Fargo & Company reiterated an "overweight" rating and set a $66.00 target price (up previously from $61.00) on shares of Equitable in a research report on Thursday, July 10th. Keefe, Bruyette & Woods upped their price objective on shares of Equitable from $63.00 to $64.00 and gave the stock an "outperform" rating in a report on Wednesday, July 9th. JPMorgan Chase & Co. upped their price objective on shares of Equitable from $55.00 to $65.00 and gave the stock a "neutral" rating in a report on Tuesday, July 8th. Evercore ISI lowered their price objective 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. Finally, UBS Group lowered their price objective on shares of Equitable from $77.00 to $75.00 and set a "buy" rating on the stock in a report on Tuesday, May 27th. One research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $65.30.

Insider Activity at Equitable

In related news, CEO Mark Pearson sold 30,000 shares of the firm's stock in a transaction dated Tuesday, July 15th. The shares were sold at an average price of $52.22, for a total transaction of $1,566,600.00. Following the completion of the sale, the chief executive officer owned 714,367 shares in the company, valued at approximately $37,304,244.74. This trade represents a 4.03% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Nick Lane sold 5,000 shares of the firm's stock in a transaction dated Thursday, May 15th. The stock was sold at an average price of $52.91, for a total transaction of $264,550.00. Following the sale, the insider owned 139,073 shares of the company's stock, valued at $7,358,352.43. This trade represents a 3.47% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 135,666 shares of company stock worth $7,145,208. 1.10% of the stock is currently owned by corporate insiders.

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.