Allspring Global Investments Holdings LLC Sells 143,356 Shares of Equitable Holdings, Inc. $EQH

Allspring Global Investments Holdings LLC cut its holdings in Equitable Holdings, Inc. (NYSE:EQH) by 6.8% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,965,757 shares of the company’s stock after selling 143,356 shares during the period. Allspring Global Investments Holdings LLC owned approximately 0.65% of Equitable worth $109,847,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of EQH. GAMMA Investing LLC boosted its holdings in Equitable by 23.3% during the first quarter. GAMMA Investing LLC now owns 10,371 shares of the company’s stock valued at $540,000 after acquiring an additional 1,961 shares during the period. Fifth Third Bancorp boosted its holdings in Equitable by 6.2% during 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 during the period. Wealth Enhancement Advisory Services LLC boosted its holdings in Equitable by 26.2% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 34,841 shares of the company’s stock valued at $1,815,000 after acquiring an additional 7,240 shares during the period. Hennessy Advisors Inc. boosted its holdings in Equitable by 20.0% during the first quarter. Hennessy Advisors Inc. now owns 24,000 shares of the company’s stock valued at $1,250,000 after acquiring an additional 4,000 shares during the period. Finally, Ritholtz Wealth Management boosted its holdings in Equitable by 6.7% during the first quarter. Ritholtz Wealth Management now owns 30,791 shares of the company’s stock valued at $1,604,000 after acquiring an additional 1,938 shares during the period. 92.70% of the stock is currently owned by institutional investors.

Equitable Stock Performance

NYSE:EQH opened at $48.86 on Tuesday. Equitable Holdings, Inc. has a 12-month low of $41.39 and a 12-month high of $56.61. The company has a quick ratio of 0.14, a current ratio of 0.14 and a debt-to-equity ratio of 4.94. The firm has a market capitalization of $14.64 billion, a PE ratio of 39.40 and a beta of 1.10. The firm has a 50-day moving average price of $52.50 and a 200 day moving average price of $51.99.

Equitable Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 12th. Investors of record on Tuesday, August 5th were given a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 2.2%. The ex-dividend date of this dividend was Tuesday, August 5th. Equitable’s dividend payout ratio is 87.10%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on EQH shares. Morgan Stanley decreased their price target on shares of Equitable from $67.00 to $61.00 and set an “overweight” rating for the company in a report on Tuesday, October 7th. Keefe, Bruyette & Woods upped their price objective on shares of Equitable from $64.00 to $65.00 and gave the company an “outperform” rating in a research report on Thursday, October 9th. Evercore ISI upped their price objective on shares of Equitable from $63.00 to $64.00 and gave the company an “outperform” rating in a research report on Thursday. Barclays reaffirmed an “overweight” rating and set a $63.00 price objective on shares of Equitable in a research report on Wednesday, October 8th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Equitable from $55.00 to $65.00 and gave the company a “neutral” rating in a research report on Tuesday, July 8th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, Equitable currently has a consensus rating of “Moderate Buy” and an average target price of $64.45.

Insider Buying and Selling at Equitable

In related news, CEO Mark Pearson sold 39,700 shares of the stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $53.05, for a total value of $2,106,085.00. Following the completion of the transaction, the chief executive officer owned 703,029 shares of the company’s stock, valued at $37,295,688.45. This represents a 5.35% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Robin M. Raju sold 36,888 shares of the stock in a transaction dated Monday, September 22nd. The stock was sold at an average price of $54.00, for a total transaction of $1,991,952.00. Following the completion of the transaction, the chief financial officer directly owned 140,258 shares of the company’s stock, valued at $7,573,932. This trade represents a 20.82% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 132,468 shares of company stock worth $7,117,270. 1.10% of the stock is currently owned by company insiders.

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.