Equitable Holdings, Inc. $EQH Position Cut by Hsbc Holdings PLC

Hsbc Holdings PLC trimmed its stake in Equitable Holdings, Inc. (NYSE:EQH) by 31.6% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 1,244,858 shares of the company’s stock after selling 576,391 shares during the quarter. Hsbc Holdings PLC owned approximately 0.41% of Equitable worth $64,186,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in EQH. Boston Partners bought a new stake in Equitable in the first quarter valued at $108,264,000. Allspring Global Investments Holdings LLC lifted its stake in Equitable by 5,536.0% in the first quarter. Allspring Global Investments Holdings LLC now owns 2,109,113 shares of the company’s stock valued at $110,286,000 after buying an additional 2,071,691 shares during the last quarter. Wellington Management Group LLP lifted its stake in Equitable by 23.4% in the first quarter. Wellington Management Group LLP now owns 10,878,516 shares of the company’s stock valued at $566,662,000 after buying an additional 2,061,496 shares during the last quarter. Nuveen LLC bought a new stake in Equitable in the first quarter valued at $99,319,000. Finally, Alyeska Investment Group L.P. lifted its stake in Equitable by 237.0% in the fourth quarter. Alyeska Investment Group L.P. now owns 1,758,637 shares of the company’s stock valued at $82,955,000 after buying an additional 1,236,799 shares during the last quarter. 92.70% of the stock is currently owned by institutional investors.

Equitable Price Performance

NYSE:EQH opened at $51.8260 on Friday. The business’s 50-day moving average price is $53.09 and its 200 day moving average price is $52.12. The firm has a market cap of $15.52 billion, a P/E ratio of 41.80 and a beta of 1.14. Equitable Holdings, Inc. has a 52-week low of $37.99 and a 52-week 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.

Equitable Announces Dividend

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

Insider Buying and Selling

In related news, CAO William James Iv Eckert sold 4,000 shares of Equitable stock in a transaction dated Friday, June 20th. The stock was sold at an average price of $53.09, for a total transaction of $212,360.00. Following the transaction, the chief accounting officer directly owned 19,827 shares of the company’s stock, valued at $1,052,615.43. The trade was a 16.79% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Mark Pearson sold 39,700 shares of Equitable stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $53.05, for a total value of $2,106,085.00. Following the transaction, the chief executive officer directly owned 703,029 shares in the company, valued at approximately $37,295,688.45. The trade was a 5.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 140,490 shares of company stock valued at $7,414,316 over the last three months. Company insiders own 1.10% of the company’s stock.

Wall Street Analysts Forecast Growth

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