Insider Selling: Equitable (NYSE:EQH) COO Sells 6,790 Shares of Stock

Equitable Holdings, Inc. (NYSE:EQH) COO Jeffrey Hurd sold 6,790 shares of the stock in a transaction dated Friday, August 15th. The shares were sold at an average price of $54.09, for a total transaction of $367,271.10. Following the completion of the sale, the chief operating officer owned 88,678 shares of the company’s stock, valued at approximately $4,796,593.02. This represents a 7.11% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Equitable Stock Performance

Shares of EQH stock opened at $52.0740 on Thursday. The firm has a 50-day moving average of $53.12 and a 200-day moving average of $52.14. The company has a market cap of $15.60 billion, a P/E ratio of 42.00 and a beta of 1.14. The company has a debt-to-equity ratio of 4.94, a current ratio of 0.14 and a quick ratio of 0.14. Equitable Holdings, Inc. has a one year low of $37.99 and a one year high of $56.61.

Equitable Dividend Announcement

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

Analysts Set New Price Targets

EQH has been the subject of several analyst reports. Wells Fargo & Company lowered their target price on shares of Equitable from $66.00 to $63.00 and set an “overweight” rating for the company in a report on Friday, August 8th. Evercore ISI lowered their target price on shares of Equitable from $69.00 to $64.00 and set an “outperform” rating for the company in a report on Thursday, May 1st. JPMorgan Chase & Co. increased their target price on shares of Equitable from $55.00 to $65.00 and gave the company a “neutral” rating in a report on Tuesday, July 8th. UBS Group lowered their target price on shares of Equitable from $77.00 to $75.00 and set a “buy” rating for the company in a report on Tuesday, May 27th. Finally, Keefe, Bruyette & Woods increased their price target on shares of Equitable from $63.00 to $64.00 and gave the company an “outperform” rating in a research report on Wednesday, July 9th. Nine investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $64.90.

Hedge Funds Weigh In On Equitable

Several institutional investors have recently added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD grew its position in Equitable by 2.6% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 21,278,436 shares of the company’s stock valued at $1,003,705,000 after buying an additional 535,671 shares during the period. Norges Bank bought a new position in Equitable during the second quarter worth about $703,060,000. Wellington Management Group LLP boosted its position in Equitable by 23.4% during the first quarter. Wellington Management Group LLP now owns 10,878,516 shares of the company’s stock worth $566,662,000 after purchasing an additional 2,061,496 shares during the period. Geode Capital Management LLC boosted its position in Equitable by 26.4% during the second quarter. Geode Capital Management LLC now owns 7,428,619 shares of the company’s stock worth $415,786,000 after purchasing an additional 1,551,551 shares during the period. Finally, Acadian Asset Management LLC boosted its position in Equitable by 4.8% during the first quarter. Acadian Asset Management LLC now owns 5,789,138 shares of the company’s stock worth $301,536,000 after purchasing an additional 265,759 shares during the period. Institutional investors own 92.70% of the company’s stock.

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.