Allianz Asset Management GmbH Sells 98,879 Shares of Equitable Holdings, Inc. $EQH

Allianz Asset Management GmbH trimmed its stake in shares of Equitable Holdings, Inc. (NYSE:EQH) by 26.3% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 277,323 shares of the company’s stock after selling 98,879 shares during the period. Allianz Asset Management GmbH owned approximately 0.09% of Equitable worth $14,082,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in EQH. True Wealth Design LLC raised its stake in Equitable by 592.6% during the 2nd quarter. True Wealth Design LLC now owns 561 shares of the company’s stock valued at $31,000 after buying an additional 480 shares during the last quarter. Root Financial Partners LLC bought a new stake in shares of Equitable in the third quarter worth $36,000. Hilltop National Bank purchased a new stake in Equitable during the third quarter valued at $37,000. Geneos Wealth Management Inc. lifted its holdings in Equitable by 92.6% in the first quarter. Geneos Wealth Management Inc. now owns 882 shares of the company’s stock valued at $46,000 after acquiring an additional 424 shares during the period. Finally, MAI Capital Management lifted its holdings in Equitable by 64.0% in the second quarter. MAI Capital Management now owns 938 shares of the company’s stock valued at $53,000 after acquiring an additional 366 shares during the period. Hedge funds and other institutional investors own 92.70% of the company’s stock.

Insiders Place Their Bets

In related news, insider Nick Lane sold 30,000 shares of the stock in a transaction dated Thursday, January 15th. The stock was sold at an average price of $47.65, for a total transaction of $1,429,500.00. Following the completion of the sale, the insider owned 99,958 shares in the company, valued at approximately $4,762,998.70. This trade represents a 23.08% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Jeffrey J. Hurd sold 6,790 shares of the business’s stock in a transaction that occurred on Thursday, January 15th. The stock was sold at an average price of $47.65, for a total value of $323,543.50. Following the completion of the transaction, the chief operating officer directly owned 55,023 shares in the company, valued at approximately $2,621,845.95. This represents a 10.98% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 203,770 shares of company stock valued at $9,462,206 in the last ninety days. Insiders own 1.10% of the company’s stock.

Equitable Stock Performance

EQH opened at $45.58 on Friday. The company has a 50 day simple moving average of $47.07 and a two-hundred day simple moving average of $49.15. The company has a debt-to-equity ratio of 16.42, a current ratio of 0.10 and a quick ratio of 0.13. The firm has a market cap of $13.06 billion, a P/E ratio of -9.46, a PEG ratio of 0.35 and a beta of 1.12. Equitable Holdings, Inc. has a 1-year low of $41.39 and a 1-year high of $56.61.

Equitable Announces Dividend

The firm also recently declared 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 2.4%. The ex-dividend date was Monday, November 24th. Equitable’s dividend payout ratio is presently -22.41%.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on EQH shares. Weiss Ratings restated a “hold (c-)” rating on shares of Equitable in a research note on Monday, December 29th. Zacks Research downgraded shares of Equitable from a “hold” rating to a “strong sell” rating in a report on Thursday, January 22nd. The Goldman Sachs Group set a $60.00 target price on shares of Equitable in a research report on Monday, January 5th. Barclays decreased their price target on shares of Equitable from $58.00 to $57.00 and set an “overweight” rating on the stock in a research report on Wednesday. Finally, Wall Street Zen cut shares of Equitable from a “hold” rating to a “sell” rating in a research note on Sunday, November 16th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Equitable has a consensus rating of “Moderate Buy” and an average target price of $62.23.

About Equitable

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.