Canada Pension Plan Investment Board Invests $399.58 Million in Equitable Holdings, Inc. $EQH

Canada Pension Plan Investment Board purchased a new stake in shares of Equitable Holdings, Inc. (NYSE:EQH) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 9,106,103 shares of the company’s stock, valued at approximately $399,576,000. Canada Pension Plan Investment Board owned 3.34% of Equitable as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Parkside Financial Bank & Trust grew its position in Equitable by 9.1% in the 4th quarter. Parkside Financial Bank & Trust now owns 2,726 shares of the company’s stock valued at $130,000 after buying an additional 227 shares in the last quarter. Steward Partners Investment Advisory LLC raised its position in shares of Equitable by 9.1% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 2,999 shares of the company’s stock worth $143,000 after buying an additional 249 shares in the last quarter. Wilmington Savings Fund Society FSB lifted its stake in shares of Equitable by 11.7% in the 3rd quarter. Wilmington Savings Fund Society FSB now owns 2,634 shares of the company’s stock worth $134,000 after acquiring an additional 275 shares during the period. J. Safra Sarasin Holding AG lifted its stake in shares of Equitable by 1.5% in the 1st quarter. J. Safra Sarasin Holding AG now owns 19,109 shares of the company’s stock worth $708,000 after acquiring an additional 290 shares during the period. Finally, CX Institutional boosted its holdings in shares of Equitable by 30.2% in the second quarter. CX Institutional now owns 1,282 shares of the company’s stock valued at $56,000 after acquiring an additional 297 shares in the last quarter. 92.70% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. UBS Group upped their target price on Equitable from $63.00 to $68.00 and gave the stock a “buy” rating in a research report on Wednesday, July 8th. Keefe, Bruyette & Woods boosted their price objective on Equitable from $62.00 to $67.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 11th. Barclays upped their price objective on Equitable from $50.00 to $52.00 and gave the company an “overweight” rating in a report on Wednesday, August 5th. Weiss Ratings lowered Equitable from a “hold (c-)” rating to a “sell (d+)” rating in a report on Wednesday, August 5th. Finally, Wells Fargo & Company boosted their price target on shares of Equitable from $60.00 to $64.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 19th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Equitable has an average rating of “Moderate Buy” and a consensus price target of $61.75.

Insider Activity at Equitable

In other Equitable news, CAO William James Iv Eckert sold 947 shares of the firm’s stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $52.88, for a total value of $50,077.36. Following the completion of the transaction, the chief accounting officer directly owned 8,419 shares in the company, valued at $445,196.72. This trade represents a 10.11% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Craig C. Mackay sold 2,200 shares of Equitable stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $51.37, for a total transaction of $113,014.00. Following the completion of the transaction, the director directly owned 18,999 shares in the company, valued at approximately $975,978.63. This trade represents a 10.38% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 114,541 shares of company stock valued at $5,357,784. Corporate insiders own 1.00% of the company’s stock.

Equitable Price Performance

Shares of NYSE:EQH opened at $48.90 on Wednesday. Equitable Holdings, Inc. has a one year low of $35.19 and a one year high of $55.15. The stock has a fifty day moving average of $48.03 and a 200-day moving average of $43.46. The company has a market capitalization of $13.35 billion, a PE ratio of -14.77, a price-to-earnings-growth ratio of 0.48 and a beta of 1.09. The company has a debt-to-equity ratio of 8.75, a quick ratio of 0.15 and a current ratio of 0.15.

Equitable (NYSE:EQH) last issued its earnings results on Tuesday, August 4th. The company reported $1.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.65 by $0.05. The business had revenue of $1.66 billion for the quarter, compared to analysts’ expectations of $3.84 billion. Equitable had a positive return on equity of 511.35% and a negative net margin of 8.72%.The company’s quarterly revenue was down 29.8% on a year-over-year basis. During the same period in the previous year, the firm posted $1.10 EPS. As a group, equities analysts anticipate that Equitable Holdings, Inc. will post 7.16 EPS for the current fiscal year.

Equitable Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 10th. Shareholders of record on Monday, August 3rd were issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 2.5%. The ex-dividend date was Monday, August 3rd. Equitable’s payout ratio is presently -36.25%.

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.