Hsbc Holdings PLC Lowers Position in Equitable Holdings, Inc. (NYSE:EQH)

Hsbc Holdings PLC lessened its holdings in shares of Equitable Holdings, Inc. (NYSE:EQH - Free Report) by 25.2% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,821,249 shares of the company's stock after selling 612,936 shares during the period. Hsbc Holdings PLC owned about 0.58% of Equitable worth $86,068,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of EQH. Norges Bank purchased a new position in Equitable during the 4th quarter valued at $668,250,000. Wellington Management Group LLP increased its position in shares of Equitable by 59.9% during the fourth quarter. Wellington Management Group LLP now owns 8,817,020 shares of the company's stock valued at $415,899,000 after buying an additional 3,303,449 shares during the period. Nordea Investment Management AB raised its stake in Equitable by 700.3% in the fourth quarter. Nordea Investment Management AB now owns 1,563,172 shares of the company's stock worth $74,126,000 after buying an additional 1,367,837 shares in the last quarter. Los Angeles Capital Management LLC lifted its holdings in Equitable by 608.1% in the fourth quarter. Los Angeles Capital Management LLC now owns 1,468,912 shares of the company's stock worth $69,289,000 after buying an additional 1,261,466 shares during the period. Finally, Amundi boosted its position in Equitable by 56.3% during the 4th quarter. Amundi now owns 2,659,691 shares of the company's stock valued at $130,351,000 after acquiring an additional 957,828 shares in the last quarter. Institutional investors own 92.70% of the company's stock.

Insider Activity

In related news, COO Jeffrey J. Hurd sold 6,666 shares of Equitable stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $55.38, for a total transaction of $369,163.08. Following the completion of the transaction, the chief operating officer now directly owns 104,298 shares of the company's stock, valued at approximately $5,776,023.24. The trade was a 6.01 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Mark Pearson sold 30,000 shares of the stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $51.16, for a total transaction of $1,534,800.00. Following the completion of the sale, the chief executive officer now directly owns 753,206 shares in the company, valued at $38,534,018.96. This trade represents a 3.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 83,332 shares of company stock valued at $4,141,315 in the last ninety days. Insiders own 1.10% of the company's stock.

Equitable Price Performance

Shares of NYSE:EQH traded up $0.29 during mid-day trading on Tuesday, reaching $50.70. The stock had a trading volume of 464,856 shares, compared to its average volume of 2,617,117. The company has a market cap of $15.55 billion, a P/E ratio of 13.27 and a beta of 1.23. The business's 50 day moving average price is $50.38 and its 200 day moving average price is $49.40. The company has a current ratio of 0.07, a quick ratio of 0.12 and a debt-to-equity ratio of 3.07. Equitable Holdings, Inc. has a 1 year low of $36.46 and a 1 year high of $56.00.

Equitable (NYSE:EQH - Get Free Report) last posted its earnings results on Wednesday, February 5th. The company reported $1.57 earnings per share for the quarter, missing analysts' consensus estimates of $1.65 by ($0.08). Equitable had a net margin of 10.51% and a return on equity of 85.70%. Research analysts expect that Equitable Holdings, Inc. will post 7.33 EPS for the current fiscal year.

Equitable Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 12th. Stockholders of record on Wednesday, March 5th were given a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 1.89%. The ex-dividend date of this dividend was Wednesday, March 5th. Equitable's dividend payout ratio is 25.13%.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on EQH shares. UBS Group upgraded Equitable from a "neutral" rating to a "buy" rating and lifted their price target for the company from $49.00 to $77.00 in a research report on Wednesday, April 2nd. Morgan Stanley reduced their target price on shares of Equitable from $68.00 to $58.00 and set an "overweight" rating on the stock in a research report on Thursday, April 10th. Truist Financial lifted their price target on shares of Equitable from $52.00 to $60.00 and gave the company a "buy" rating in a research report on Monday, February 10th. JPMorgan Chase & Co. raised their target price on shares of Equitable from $53.00 to $55.00 and gave the company a "neutral" rating in a research note on Wednesday, April 2nd. Finally, BMO Capital Markets boosted their price target on Equitable from $69.00 to $72.00 and gave the stock an "outperform" rating in a research report on Tuesday, February 25th. One research analyst has rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $60.91.

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.