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

Assetmark Inc. trimmed its holdings in Equitable Holdings, Inc. (NYSE:EQH) by 24.9% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 600 shares of the company’s stock after selling 199 shares during the quarter. Assetmark Inc.’s holdings in Equitable were worth $31,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in EQH. Cetera Investment Advisers purchased a new stake in Equitable during the 1st quarter valued at $2,094,000. Avantax Advisory Services Inc. raised its stake in shares of Equitable by 27.8% during the 1st quarter. Avantax Advisory Services Inc. now owns 23,160 shares of the company’s stock worth $1,206,000 after acquiring an additional 5,039 shares in the last quarter. Convergence Investment Partners LLC acquired a new position in Equitable during the 1st quarter valued at about $1,127,000. Oak Thistle LLC acquired a new stake in Equitable in the 1st quarter worth approximately $2,599,000. Finally, Four Tree Island Advisory LLC increased its position in shares of Equitable by 3.8% in the 1st quarter. Four Tree Island Advisory LLC now owns 421,462 shares of the company’s stock valued at $21,954,000 after acquiring an additional 15,612 shares during the period. 92.70% of the stock is owned by institutional investors.

Equitable Stock Down 0.3%

EQH opened at $50.85 on Wednesday. The business’s 50-day simple moving average is $53.28 and its 200-day simple moving average is $52.16. The stock has a market capitalization of $15.34 billion, a P/E ratio of 13.82 and a beta of 1.14. The company has a debt-to-equity ratio of 2.39, a quick ratio of 0.10 and a current ratio of 0.10. Equitable Holdings, Inc. has a one year low of $36.78 and a one year high of $56.61.

Equitable Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, August 12th. Stockholders of record on Tuesday, August 5th will be paid a dividend of $0.27 per share. The ex-dividend date is Tuesday, August 5th. This represents a $1.08 annualized dividend and a dividend yield of 2.1%. Equitable’s dividend payout ratio is 29.35%.

Insider Buying and Selling at Equitable

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

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. Evercore ISI decreased their target price on shares of Equitable from $69.00 to $64.00 and set an “outperform” rating for the company in a research report on Thursday, May 1st. Wells Fargo & Company restated an “overweight” rating and issued a $66.00 target price (up from $61.00) on shares of Equitable in a report on Thursday, July 10th. Morgan Stanley reiterated an “overweight” rating and set a $68.00 price target (up from $67.00) on shares of Equitable in a report on Monday, July 14th. UBS Group cut their price objective on Equitable from $77.00 to $75.00 and set a “buy” rating on the stock in a report on Tuesday, May 27th. Finally, Keefe, Bruyette & Woods upped their price objective on Equitable from $63.00 to $64.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 9th. One research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $65.30.

Equitable 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.