Allspring Global Investments Holdings LLC Has $93.53 Million Holdings in Equitable Holdings, Inc. $EQH

Allspring Global Investments Holdings LLC cut its stake in Equitable Holdings, Inc. (NYSE:EQH) by 3.5% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,897,904 shares of the company’s stock after selling 67,853 shares during the quarter. Allspring Global Investments Holdings LLC owned 0.63% of Equitable worth $93,529,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in EQH. Norges Bank acquired a new stake in shares of Equitable in the 2nd quarter valued at about $703,060,000. Robeco Institutional Asset Management B.V. boosted its holdings in Equitable by 553.0% during the second quarter. Robeco Institutional Asset Management B.V. now owns 2,166,713 shares of the company’s stock worth $121,553,000 after purchasing an additional 1,834,889 shares during the last quarter. Geode Capital Management LLC grew its position in Equitable by 26.4% in the second quarter. Geode Capital Management LLC now owns 7,428,619 shares of the company’s stock valued at $415,786,000 after purchasing an additional 1,551,551 shares in the last quarter. Boston Partners increased its position in shares of Equitable by 71.5% in the second quarter. Boston Partners now owns 3,565,147 shares of the company’s stock valued at $199,958,000 after acquiring an additional 1,486,286 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA raised its stake in shares of 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 purchasing an additional 1,254,521 shares in the last quarter. Institutional investors and hedge funds own 92.70% of the company’s stock.

Equitable Price Performance

Equitable stock opened at $47.64 on Thursday. Equitable Holdings, Inc. has a one year low of $41.39 and a one year high of $56.61. The stock’s 50 day moving average is $46.84 and its 200 day moving average is $50.51. The firm has a market cap of $13.65 billion, a P/E ratio of -17.26 and a beta of 1.12. The company has a debt-to-equity ratio of 11.87, a current ratio of 0.13 and a quick ratio of 0.13.

Equitable (NYSE:EQH) last issued its earnings results on Tuesday, November 4th. The company reported $1.48 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.59 by ($0.11). Equitable had a positive return on equity of 107.71% and a negative net margin of 5.80%.The company had revenue of $1.45 billion for the quarter, compared to the consensus estimate of $3.65 billion. During the same period in the prior year, the company earned $1.58 earnings per share. The firm’s revenue was down 52.8% compared to the same quarter last year. As a group, research analysts expect that Equitable Holdings, Inc. will post 7.33 EPS for the current year.

Equitable Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 1st. Shareholders of record on Monday, November 24th were paid a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date was Monday, November 24th. Equitable’s dividend payout ratio is -39.13%.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Wall Street Zen cut shares of Equitable from a “hold” rating to a “sell” rating in a research report on Sunday, November 16th. Evercore ISI raised their price objective on shares of Equitable from $63.00 to $64.00 and gave the stock an “outperform” rating in a research report on Thursday, October 9th. Morgan Stanley reduced their price objective on Equitable from $67.00 to $61.00 and set an “overweight” rating for the company in a report on Tuesday, October 7th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Equitable in a research note on Monday. Finally, Wells Fargo & Company lowered their price objective on Equitable from $65.00 to $62.00 and set an “overweight” rating on the stock in a research report on Friday, November 7th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Equitable has a consensus rating of “Moderate Buy” and a consensus price target of $64.33.

Insider Activity at Equitable

In related news, COO Jeffrey J. Hurd sold 6,790 shares of the company’s stock in a transaction on Monday, December 15th. The shares were sold at an average price of $48.35, for a total value of $328,296.50. Following the completion of the transaction, the chief operating officer directly owned 61,813 shares in the company, valued at approximately $2,988,658.55. The trade was a 9.90% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Mark Pearson sold 39,700 shares of Equitable stock in a transaction that occurred on Thursday, December 18th. The stock was sold at an average price of $47.88, for a total transaction of $1,900,836.00. Following the transaction, the chief executive officer directly owned 665,445 shares in the company, valued at $31,861,506.60. This trade represents a 5.63% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 173,770 shares of company stock worth $8,120,014. 1.10% of the stock is currently owned by corporate insiders.

Equitable Company Profile

Equitable Holdings, Inc (NYSE: EQH) is a leading provider of life insurance, annuities and retirement plan services in the United States. Through its insurance subsidiary, AXA Equitable Life Insurance Company, the firm offers a broad range of permanent and term life insurance products designed to help individuals and families manage risk and build wealth. In addition, Equitable provides fixed, variable and indexed annuity solutions to support income planning in retirement, as well as a suite of group retirement and pension plan services for employers and plan sponsors.

The company also maintains an asset management arm that delivers investment strategies across equities, fixed income and alternative asset classes for both retail and institutional clients.