Equitable (NYSE:EQH) Insider Nick Lane Sells 10,000 Shares

Equitable Holdings, Inc. (NYSE:EQH) insider Nick Lane sold 10,000 shares of the business’s stock in a transaction on Wednesday, April 8th. The shares were sold at an average price of $40.04, for a total transaction of $400,400.00. Following the completion of the transaction, the insider owned 124,218 shares of the company’s stock, valued at approximately $4,973,688.72. This represents a 7.45% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Nick Lane also recently made the following trade(s):

• On Thursday, January 15th, Nick Lane sold 30,000 shares of Equitable stock. The shares were sold at an average price of $47.65, for a total transaction of $1,429,500.00.

Equitable Price Performance

NYSE:EQH traded down $0.34 during trading hours on Thursday, reaching $38.51. 5,018,124 shares of the company were exchanged, compared to its average volume of 3,591,020. The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 16.42. The stock’s 50-day moving average is $40.75 and its 200-day moving average is $45.30. The firm has a market cap of $10.79 billion, a PE ratio of -7.99, a price-to-earnings-growth ratio of 0.35 and a beta of 1.11. Equitable Holdings, Inc. has a twelve month low of $35.19 and a twelve month high of $56.61.

Equitable Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 11th. Shareholders of record on Wednesday, March 4th were given a dividend of $0.27 per share. The ex-dividend date was Wednesday, March 4th. This represents a $1.08 dividend on an annualized basis and a yield of 2.8%. Equitable’s dividend payout ratio is currently -22.41%.

Equitable declared that its board has authorized a share buyback program on Wednesday, February 11th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the company to purchase up to 7.7% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of research firms have weighed in on EQH. Raymond James Financial set a $60.00 price objective on shares of Equitable in a research report on Monday, January 5th. Barclays reduced their price objective on shares of Equitable from $57.00 to $49.00 and set an “overweight” rating for the company in a research report on Wednesday. Mizuho set a $65.00 price objective on shares of Equitable in a research report on Wednesday, January 14th. Zacks Research cut shares of Equitable from a “hold” rating to a “strong sell” rating in a research report on Thursday, January 22nd. Finally, BMO Capital Markets restated an “outperform” rating on shares of Equitable in a research report on Wednesday, December 17th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, Equitable has a consensus rating of “Moderate Buy” and an average target price of $58.09.

Hedge Funds Weigh In On Equitable

Several hedge funds and other institutional investors have recently modified their holdings of EQH. Norges Bank purchased a new position in shares of Equitable in the fourth quarter worth about $550,995,000. Capital International Investors lifted its stake in shares of Equitable by 49.5% in the third quarter. Capital International Investors now owns 11,012,837 shares of the company’s stock worth $559,232,000 after buying an additional 3,645,301 shares in the last quarter. Bank of Montreal Can lifted its stake in shares of Equitable by 7,955.4% in the fourth quarter. Bank of Montreal Can now owns 2,424,823 shares of the company’s stock worth $116,585,000 after buying an additional 2,394,721 shares in the last quarter. Diamond Hill Capital Management Inc. lifted its stake in shares of Equitable by 114.8% in the fourth quarter. Diamond Hill Capital Management Inc. now owns 4,294,644 shares of the company’s stock worth $204,640,000 after buying an additional 2,294,902 shares in the last quarter. Finally, London Co. of Virginia lifted its stake in shares of Equitable by 4,141.8% in the third quarter. London Co. of Virginia now owns 1,235,243 shares of the company’s stock worth $62,726,000 after buying an additional 1,206,122 shares in the last quarter. 92.70% of the stock is owned by hedge funds and other institutional investors.

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.