Redwood Investment Management LLC Lowers Position in Equitable Holdings, Inc. $EQH

Redwood Investment Management LLC decreased its position in Equitable Holdings, Inc. (NYSE:EQH) by 16.6% during the 1st quarter, Holdings Channel reports. The fund owned 25,239 shares of the company’s stock after selling 5,025 shares during the quarter. Redwood Investment Management LLC’s holdings in Equitable were worth $1,315,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. QRG Capital Management Inc. boosted its holdings in shares of Equitable by 0.3% in the first quarter. QRG Capital Management Inc. now owns 88,561 shares of the company’s stock valued at $4,613,000 after acquiring an additional 260 shares in the last quarter. Colonial Trust Co SC boosted its holdings in shares of Equitable by 7.0% in the fourth quarter. Colonial Trust Co SC now owns 4,278 shares of the company’s stock valued at $202,000 after acquiring an additional 278 shares in the last quarter. Fifth Third Bancorp boosted its holdings in shares of Equitable by 6.2% in the first quarter. Fifth Third Bancorp now owns 5,145 shares of the company’s stock valued at $268,000 after acquiring an additional 299 shares in the last quarter. Mutual Advisors LLC boosted its holdings in shares of Equitable by 5.3% in the first quarter. Mutual Advisors LLC now owns 6,367 shares of the company’s stock valued at $316,000 after acquiring an additional 319 shares in the last quarter. Finally, Wedmont Private Capital boosted its holdings in shares of Equitable by 8.4% in the first quarter. Wedmont Private Capital now owns 4,539 shares of the company’s stock valued at $236,000 after acquiring an additional 353 shares in the last quarter. Hedge funds and other institutional investors own 92.70% of the company’s stock.

Equitable Stock Performance

Shares of EQH opened at $54.10 on Wednesday. The company has a current ratio of 0.14, a quick ratio of 0.14 and a debt-to-equity ratio of 4.94. The stock has a market cap of $16.20 billion, a P/E ratio of 43.63 and a beta of 1.14. The company has a 50-day moving average of $53.17 and a two-hundred day moving average of $52.12. Equitable Holdings, Inc. has a 12-month low of $37.99 and a 12-month high of $56.61.

Equitable Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 12th. Shareholders of record on Tuesday, August 5th were given a dividend of $0.27 per share. The ex-dividend date was Tuesday, August 5th. This represents a $1.08 dividend on an annualized basis and a yield of 2.0%. Equitable’s payout ratio is presently 87.10%.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on EQH. JPMorgan Chase & Co. lifted 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 on the stock in a research report on Tuesday, May 27th. Keefe, Bruyette & Woods upped their target price on shares of Equitable from $63.00 to $64.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 9th. Evercore ISI lowered their target price on shares of Equitable from $69.00 to $64.00 and set an “outperform” rating on the stock in a research report on Thursday, May 1st. Finally, Morgan Stanley lowered their target price on shares of Equitable from $68.00 to $67.00 and set an “overweight” rating on the stock in a research report on Monday, August 18th. Nine investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $64.90.

Insider Buying and Selling at Equitable

In other news, Director Bertram L. Scott sold 2,600 shares of the business’s stock in a transaction that occurred on Thursday, August 21st. The shares were sold at an average price of $51.86, for a total value of $134,836.00. Following the completion of the transaction, the director owned 26,001 shares of the company’s stock, valued at $1,348,411.86. The trade was a 9.09% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO Jeffrey J. Hurd sold 6,790 shares of the business’s stock in a transaction that occurred on 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 transaction, the chief operating officer directly 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 disclosure for this sale can be found here. In the last three months, insiders have sold 143,090 shares of company stock worth $7,549,152. 1.10% of the stock is currently owned by insiders.

About Equitable

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.