Lecap Asset Management Ltd. Sells 40,279 Shares of Equitable Holdings, Inc. $EQH

Lecap Asset Management Ltd. decreased its stake in Equitable Holdings, Inc. (NYSE:EQH) by 69.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 17,621 shares of the company’s stock after selling 40,279 shares during the period. Lecap Asset Management Ltd.’s holdings in Equitable were worth $989,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in EQH. MV Capital Management Inc. bought a new position in shares of Equitable in the 1st quarter worth $26,000. WPG Advisers LLC bought a new position in shares of Equitable in the 1st quarter worth $27,000. Orion Capital Management LLC bought a new position in shares of Equitable in the 1st quarter worth $33,000. Geneos Wealth Management Inc. grew its holdings in shares of Equitable by 92.6% during the 1st quarter. Geneos Wealth Management Inc. now owns 882 shares of the company’s stock valued at $46,000 after purchasing an additional 424 shares during the last quarter. Finally, Wayfinding Financial LLC bought a new position in shares of Equitable during the 1st quarter valued at $80,000. Institutional investors own 92.70% of the company’s stock.

Insider Activity at Equitable

In other news, Director Bertram L. Scott sold 2,600 shares of the firm’s stock in a transaction dated 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 sale, the director directly owned 26,001 shares of the company’s stock, valued at approximately $1,348,411.86. This trade represents a 9.09% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, COO Jeffrey J. Hurd sold 6,790 shares of the firm’s stock in a transaction dated Monday, September 15th. The stock was sold at an average price of $53.69, for a total transaction of $364,555.10. Following the completion of the sale, the chief operating officer directly owned 81,888 shares of the company’s stock, valued at approximately $4,396,566.72. This represents a 7.66% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 192,468 shares of company stock valued at $10,250,470. 1.10% of the stock is currently owned by company insiders.

Equitable Stock Up 2.2%

NYSE EQH opened at $50.38 on Friday. The company has a debt-to-equity ratio of 4.94, a current ratio of 0.14 and a quick ratio of 0.14. The stock has a market capitalization of $15.09 billion, a PE ratio of 40.63 and a beta of 1.10. Equitable Holdings, Inc. has a 1 year low of $41.06 and a 1 year high of $56.61. The business’s 50-day moving average is $52.68 and its 200 day moving average is $52.14.

Equitable Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 12th. Investors of record on Tuesday, August 5th were paid a $0.27 dividend. The ex-dividend date of this dividend was Tuesday, August 5th. This represents a $1.08 annualized dividend and a dividend yield of 2.1%. Equitable’s dividend payout ratio (DPR) is presently 87.10%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on EQH. Wells Fargo & Company reduced their target price on shares of Equitable from $66.00 to $63.00 and set an “overweight” rating on the stock in a report on Friday, August 8th. Morgan Stanley reduced their target price on shares of Equitable from $68.00 to $67.00 and set an “overweight” rating on the stock in a report on Monday, August 18th. Keefe, Bruyette & Woods increased their target price on shares of Equitable from $63.00 to $64.00 and gave the company an “outperform” rating in a report on Wednesday, July 9th. 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. Finally, Wolfe Research raised shares of Equitable to a “strong-buy” rating in a report on Tuesday, September 16th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, Equitable has an average rating of “Buy” and a consensus target price of $64.55.

Equitable 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.