Fifth Third Bancorp Sells 830 Shares of Equitable Holdings, Inc. $EQH

Fifth Third Bancorp lessened its stake in shares of Equitable Holdings, Inc. (NYSE:EQH) by 16.1% in the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 4,315 shares of the company’s stock after selling 830 shares during the period. Fifth Third Bancorp’s holdings in Equitable were worth $242,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of EQH. Wealth Enhancement Advisory Services LLC grew its holdings in Equitable by 267.7% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 27,601 shares of the company’s stock valued at $1,302,000 after purchasing an additional 20,095 shares during the period. GAMMA Investing LLC lifted its position in shares of Equitable by 6,323.6% in the first quarter. GAMMA Investing LLC now owns 540,225 shares of the company’s stock valued at $28,140,000 after acquiring an additional 531,815 shares in the last quarter. NBC Securities Inc. lifted its position in shares of Equitable by 113,245.5% in the first quarter. NBC Securities Inc. now owns 12,468 shares of the company’s stock valued at $649,000 after acquiring an additional 12,457 shares in the last quarter. Merit Financial Group LLC purchased a new position in shares of Equitable in the first quarter valued at about $338,000. Finally, Unigestion Holding SA lifted its position in shares of Equitable by 69.0% in the first quarter. Unigestion Holding SA now owns 28,207 shares of the company’s stock valued at $1,469,000 after acquiring an additional 11,513 shares in the last quarter. Institutional investors own 92.70% of the company’s stock.

Insiders Place Their Bets

In related news, COO Jeffrey J. Hurd sold 6,790 shares of the stock in a transaction that occurred on Friday, August 15th. The stock was sold at an average price of $54.09, for a total value of $367,271.10. Following the transaction, the chief operating officer owned 88,678 shares of the company’s stock, valued at $4,796,593.02. This represents a 7.11% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Bertram L. Scott sold 2,600 shares of the stock in a transaction that occurred on Thursday, August 21st. The stock was sold at an average price of $51.86, for a total value of $134,836.00. Following the completion of the transaction, the director directly owned 26,001 shares in the company, valued at approximately $1,348,411.86. This trade represents a 9.09% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 192,468 shares of company stock worth $10,250,470. Corporate insiders own 1.10% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Equitable Trading Down 3.0%

EQH opened at $50.75 on Wednesday. The stock has a market cap of $15.20 billion, a price-to-earnings ratio of 40.93 and a beta of 1.16. The stock’s 50 day moving average price is $52.79 and its 200-day moving average price is $52.17. Equitable Holdings, Inc. has a one year low of $40.81 and a one year high of $56.61. 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 Dividend Announcement

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

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.