Jeffrey Hurd Sells 6,790 Shares of Equitable (NYSE:EQH) Stock

Key Points

• Equitable Holdings COO Jeffrey Hurd sold 6,790 shares of the company's stock for approximately $367,271, reducing his ownership by 7.11%.
• Equitable recently declared a $0.27 quarterly dividend, with an annualized payout of $1.08 and a dividend yield of 2.1%.
• Analysts have adjusted their price targets for Equitable, with an average target of $64.90 and a consensus rating of "Moderate Buy."

Equitable Holdings, Inc. (NYSE:EQH - Get Free Report) COO Jeffrey Hurd sold 6,790 shares of Equitable stock in a transaction dated Friday, August 15th. The shares were sold at an average price of $54.09, for a total transaction of $367,271.10. Following the completion of the transaction, the chief operating officer directly owned 88,678 shares of the company's stock, valued at $4,796,593.02. This trade represents a 7.11% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link.

Equitable Stock Performance

Shares of NYSE EQH traded down $0.4780 during midday trading on Tuesday, hitting $52.5220. The company's stock had a trading volume of 2,622,357 shares, compared to its average volume of 2,809,065. Equitable Holdings, Inc. has a 1-year low of $37.99 and a 1-year high of $56.61. The firm's fifty day moving average price is $53.19 and its 200-day moving average price is $52.13. The company has a debt-to-equity ratio of 4.94, a quick ratio of 0.14 and a current ratio of 0.14. The firm has a market cap of $15.73 billion, a P/E ratio of 42.36 and a beta of 1.14.

Equitable Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 12th. Stockholders of record on Tuesday, August 5th were issued a $0.27 dividend. The ex-dividend date of this dividend was Tuesday, August 5th. This represents a $1.08 annualized dividend and a dividend yield of 2.1%. Equitable's payout ratio is 87.10%.

Analysts Set New Price Targets

EQH has been the subject of several research reports. UBS Group decreased their price target on shares of Equitable from $77.00 to $75.00 and set a "buy" rating for the company in a report on Tuesday, May 27th. Wells Fargo & Company reduced their target price on shares of Equitable from $66.00 to $63.00 and set an "overweight" rating for the company in a research note on Friday, August 8th. Evercore ISI reduced their target price on shares of Equitable from $69.00 to $64.00 and set an "outperform" rating for the company in a research note on Thursday, May 1st. Keefe, Bruyette & Woods boosted their target price on shares of Equitable from $63.00 to $64.00 and gave the company an "outperform" rating in a research note on Wednesday, July 9th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Equitable from $55.00 to $65.00 and gave the company a "neutral" rating in a research note on Tuesday, July 8th. Nine equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $64.90.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in EQH. Norges Bank purchased a new position in Equitable during the second quarter valued at approximately $703,060,000. Boston Partners bought a new stake in Equitable in the first quarter worth approximately $108,264,000. Allspring Global Investments Holdings LLC grew its position in Equitable by 5,536.0% in the first quarter. Allspring Global Investments Holdings LLC now owns 2,109,113 shares of the company's stock worth $110,286,000 after acquiring an additional 2,071,691 shares in the last quarter. Wellington Management Group LLP grew its position in Equitable by 23.4% in the first quarter. Wellington Management Group LLP now owns 10,878,516 shares of the company's stock worth $566,662,000 after acquiring an additional 2,061,496 shares in the last quarter. Finally, Nuveen LLC bought a new stake in Equitable in the first quarter worth approximately $99,319,000. 92.70% of the stock is owned by hedge funds and other institutional investors.

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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