Equitable (NYSE:EQH) CFO Robin Raju Sells 36,888 Shares

Equitable Holdings, Inc. (NYSE:EQH) CFO Robin Raju sold 36,888 shares of the stock in a transaction on Monday, September 22nd. The shares were sold at an average price of $54.00, for a total transaction of $1,991,952.00. Following the transaction, the chief financial officer owned 140,258 shares in the company, valued at $7,573,932. This trade represents a 20.82% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Equitable Price Performance

EQH opened at $51.95 on Friday. The company has a market capitalization of $15.56 billion, a P/E ratio of 41.89 and a beta of 1.16. The company has a 50-day moving average of $52.83 and a 200-day moving average of $52.14. The company has a debt-to-equity ratio of 4.94, a quick ratio of 0.14 and a current ratio of 0.14. Equitable Holdings, Inc. has a 1-year low of $40.81 and a 1-year high of $56.61.

Equitable Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 12th. Shareholders of record on Tuesday, August 5th were paid a dividend of $0.27 per share. The ex-dividend date was Tuesday, August 5th. This represents a $1.08 annualized dividend and a yield of 2.1%. Equitable’s dividend payout ratio is presently 87.10%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Norges Bank bought a new position in Equitable in the 2nd quarter worth about $703,060,000. Wellington Management Group LLP grew its holdings in Equitable by 23.4% in the 1st quarter. Wellington Management Group LLP now owns 10,878,516 shares of the company’s stock worth $566,662,000 after buying an additional 2,061,496 shares in the last quarter. Geode Capital Management LLC increased its position in Equitable by 26.4% in the 2nd quarter. Geode Capital Management LLC now owns 7,428,619 shares of the company’s stock valued at $415,786,000 after acquiring an additional 1,551,551 shares during the period. Acadian Asset Management LLC raised its stake in Equitable by 4.8% during the 1st quarter. Acadian Asset Management LLC now owns 5,789,138 shares of the company’s stock valued at $301,536,000 after acquiring an additional 265,759 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its position in Equitable by 29.6% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 5,498,091 shares of the company’s stock worth $308,443,000 after acquiring an additional 1,254,521 shares during the period. 92.70% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have recently commented on the company. Morgan Stanley decreased their target price on Equitable from $68.00 to $67.00 and set an “overweight” rating for the company in a research report on Monday, August 18th. Wolfe Research upgraded shares of Equitable to a “strong-buy” rating in a research note on Tuesday, September 16th. JPMorgan Chase & Co. raised their price target on shares of Equitable from $55.00 to $65.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 8th. Keefe, Bruyette & Woods boosted their price objective on shares of Equitable from $63.00 to $64.00 and gave the company an “outperform” rating in a research report on Wednesday, July 9th. Finally, Wells Fargo & Company dropped their price objective on shares of Equitable from $66.00 to $63.00 and set an “overweight” rating on the stock in a research note on Friday, August 8th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $64.55.

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.