Comerica Bank Sells 11,987 Shares of Equitable Holdings, Inc. $EQH

Comerica Bank lessened its holdings in shares of Equitable Holdings, Inc. (NYSE:EQH) by 7.0% during the 1st quarter, Holdings Channel reports. The firm owned 159,494 shares of the company’s stock after selling 11,987 shares during the period. Comerica Bank’s holdings in Equitable were worth $8,308,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in EQH. Boston Partners bought a new stake in Equitable in the 1st quarter worth approximately $108,264,000. Allspring Global Investments Holdings LLC increased its stake in Equitable by 5,536.0% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 2,109,113 shares of the company’s stock worth $110,286,000 after acquiring an additional 2,071,691 shares during the last quarter. Wellington Management Group LLP increased its stake in Equitable by 23.4% in the 1st quarter. Wellington Management Group LLP now owns 10,878,516 shares of the company’s stock worth $566,662,000 after acquiring an additional 2,061,496 shares during the last quarter. Nuveen LLC bought a new stake in Equitable in the 1st quarter worth approximately $99,319,000. Finally, Alyeska Investment Group L.P. increased its stake in Equitable by 237.0% in the 4th quarter. Alyeska Investment Group L.P. now owns 1,758,637 shares of the company’s stock worth $82,955,000 after acquiring an additional 1,236,799 shares during the last quarter. Institutional investors own 92.70% of the company’s stock.

Insider Transactions at Equitable

In other news, CAO William James Iv Eckert sold 4,000 shares of the company’s stock in a transaction dated Friday, June 20th. The stock was sold at an average price of $53.09, for a total value of $212,360.00. Following the sale, the chief accounting officer owned 19,827 shares in the company, valued at $1,052,615.43. This represents a 16.79% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Bertram L. Scott sold 2,600 shares of the company’s stock in a transaction dated Thursday, August 21st. The stock was sold at an average price of $51.86, for a total value of $134,836.00. Following the completion of the sale, the director owned 26,001 shares in the company, valued at $1,348,411.86. The trade was a 9.09% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 143,090 shares of company stock valued at $7,549,152 over the last three months. Company insiders own 1.10% of the company’s stock.

Equitable Trading Down 0.4%

Shares of NYSE:EQH opened at $53.89 on Thursday. The business’s 50-day moving average is $53.19 and its 200 day moving average is $52.13. Equitable Holdings, Inc. has a 1 year low of $37.99 and a 1 year high of $56.61. The firm has a market capitalization of $16.14 billion, a P/E ratio of 43.46 and a beta of 1.14. The company has a debt-to-equity ratio of 4.94, a current ratio of 0.14 and a quick ratio of 0.14.

Equitable Dividend Announcement

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

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. JPMorgan Chase & Co. lifted their price objective on Equitable from $55.00 to $65.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 8th. Wells Fargo & Company dropped their target price on Equitable from $66.00 to $63.00 and set an “overweight” rating for the company in a report on Friday, August 8th. Morgan Stanley dropped their target price on Equitable from $68.00 to $67.00 and set an “overweight” rating for the company in a report on Monday, August 18th. UBS Group dropped their target price on Equitable from $77.00 to $75.00 and set a “buy” rating for the company in a report on Tuesday, May 27th. Finally, Keefe, Bruyette & Woods lifted their target price on Equitable from $63.00 to $64.00 and gave the stock an “outperform” rating in a report on Wednesday, July 9th. Nine research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, Equitable has a consensus rating of “Moderate Buy” and a consensus price target of $64.90.

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.