Aberdeen Group plc Sells 16,024 Shares of Equitable Holdings, Inc. $EQH

Aberdeen Group plc lessened its stake in shares of Equitable Holdings, Inc. (NYSE:EQH) by 8.5% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 171,500 shares of the company’s stock after selling 16,024 shares during the quarter. Aberdeen Group plc owned about 0.06% of Equitable worth $8,971,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Truist Financial Corp boosted its position in Equitable by 180.7% in the third quarter. Truist Financial Corp now owns 32,820 shares of the company’s stock worth $1,667,000 after purchasing an additional 21,127 shares during the last quarter. Mediolanum International Funds Ltd boosted its holdings in shares of Equitable by 26.5% in the 3rd quarter. Mediolanum International Funds Ltd now owns 241,175 shares of the company’s stock worth $12,616,000 after buying an additional 50,455 shares during the last quarter. Atlantic Union Bankshares Corp bought a new position in Equitable during the third quarter valued at about $1,684,000. Algebris UK Ltd. raised its position in Equitable by 28.6% in the third quarter. Algebris UK Ltd. now owns 712,460 shares of the company’s stock worth $36,151,000 after acquiring an additional 158,488 shares during the period. Finally, Pinnacle Associates Ltd. boosted its stake in Equitable by 53.9% in the second quarter. Pinnacle Associates Ltd. now owns 17,315 shares of the company’s stock valued at $971,000 after acquiring an additional 6,065 shares during the last quarter. Institutional investors own 92.70% of the company’s stock.

Equitable Trading Down 2.6%

EQH opened at $44.38 on Friday. Equitable Holdings, Inc. has a 52 week low of $41.39 and a 52 week high of $56.61. The stock has a market cap of $12.72 billion, a PE ratio of -9.21, a PEG ratio of 0.35 and a beta of 1.12. The company has a quick ratio of 0.13, a current ratio of 0.10 and a debt-to-equity ratio of 16.42. The business has a 50 day moving average of $46.80 and a 200-day moving average of $48.74.

Equitable declared that its Board of Directors has initiated a share buyback program on Wednesday, February 11th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the company to reacquire up to 7.7% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Equitable Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 11th. Investors of record on Wednesday, March 4th will be given a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 2.4%. The ex-dividend date is Wednesday, March 4th. Equitable’s payout ratio is -22.41%.

Insider Buying and Selling

In other Equitable news, COO Jeffrey J. Hurd sold 6,790 shares of the stock in a transaction 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 sale, the chief operating officer owned 55,023 shares in the company, valued at approximately $2,621,845.95. This represents a 10.98% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Nick Lane sold 30,000 shares of the stock in a transaction that occurred on Thursday, January 15th. The shares were sold at an average price of $47.65, for a total value of $1,429,500.00. Following the transaction, the insider directly owned 99,958 shares of the company’s stock, valued at approximately $4,762,998.70. The trade was a 23.08% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 157,280 shares of company stock worth $7,455,677. Corporate insiders own 1.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on EQH. Zacks Research cut shares of Equitable from a “hold” rating to a “strong sell” rating in a report on Thursday, January 22nd. JPMorgan Chase & Co. lowered their target price on Equitable from $60.00 to $58.00 and set an “overweight” rating on the stock in a research note on Thursday, February 5th. The Goldman Sachs Group set a $60.00 price target on Equitable in a research note on Monday, January 5th. Mizuho set a $65.00 price target on Equitable in a report on Wednesday, January 14th. Finally, Barclays reduced their price objective on shares of Equitable from $58.00 to $57.00 and set an “overweight” rating for the company in a research note on Wednesday, February 4th. Two investment analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Equitable has an average rating of “Moderate Buy” and an average target price of $62.42.

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.