Zurcher Kantonalbank Zurich Cantonalbank Increases Stake in Equitable Holdings, Inc. $EQH

Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Equitable Holdings, Inc. (NYSE:EQH) by 4.2% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 615,489 shares of the company’s stock after buying an additional 24,848 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Equitable were worth $29,328,000 as of its most recent filing with the SEC.

Other large investors also recently bought and sold shares of the company. Johnson Financial Group Inc. purchased a new position in Equitable during the 3rd quarter worth $26,000. Root Financial Partners LLC purchased a new position in Equitable during the 3rd quarter worth $36,000. Caitong International Asset Management Co. Ltd purchased a new position in Equitable during the 3rd quarter worth $38,000. Geneos Wealth Management Inc. raised its position in Equitable by 92.6% during the 1st quarter. Geneos Wealth Management Inc. now owns 882 shares of the company’s stock worth $46,000 after buying an additional 424 shares during the last quarter. Finally, CIBC Private Wealth Group LLC raised its position in Equitable by 1,350.0% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 1,914 shares of the company’s stock worth $97,000 after buying an additional 1,782 shares during the last quarter. Hedge funds and other institutional investors own 92.70% of the company’s stock.

Insider Activity at Equitable

In related news, COO Jeffrey J. Hurd sold 14,358 shares of the company’s stock in a transaction that occurred on Wednesday, April 15th. The stock was sold at an average price of $40.58, for a total value of $582,647.64. Following the sale, the chief operating officer owned 84,403 shares of the company’s stock, valued at approximately $3,425,073.74. This represents a 14.54% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Mark Pearson sold 39,700 shares of the company’s stock in a transaction that occurred on Monday, April 20th. The shares were sold at an average price of $41.63, for a total value of $1,652,711.00. Following the completion of the sale, the chief executive officer directly owned 789,183 shares in the company, valued at approximately $32,853,688.29. The trade was a 4.79% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 128,116 shares of company stock valued at $5,205,010. 1.10% of the stock is owned by corporate insiders.

Equitable Stock Performance

Shares of EQH opened at $40.99 on Wednesday. The company has a 50-day moving average of $39.80 and a two-hundred day moving average of $44.51. The stock has a market cap of $11.49 billion, a P/E ratio of -8.50, a PEG ratio of 0.39 and a beta of 1.11. Equitable Holdings, Inc. has a 12-month low of $35.19 and a 12-month high of $56.61. The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 16.42.

Equitable announced that its board has initiated a share repurchase plan on Wednesday, February 11th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the company to reacquire up to 7.7% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board believes its shares are undervalued.

Equitable Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 11th. Investors of record on Wednesday, March 4th were paid a $0.27 dividend. The ex-dividend date of this dividend was Wednesday, March 4th. This represents a $1.08 dividend on an annualized basis and a yield of 2.6%. Equitable’s dividend payout ratio is presently -22.41%.

Analysts Set New Price Targets

A number of analysts recently commented on EQH shares. Wells Fargo & Company decreased their price objective on shares of Equitable from $57.00 to $56.00 and set an “overweight” rating on the stock in a report on Friday, April 10th. Wall Street Zen upgraded shares of Equitable from a “sell” rating to a “hold” rating in a research report on Saturday, February 28th. JPMorgan Chase & Co. decreased their price target on Equitable from $60.00 to $58.00 and set an “overweight” rating on the stock in a research note on Thursday, February 5th. Zacks Research cut Equitable from a “hold” rating to a “strong sell” rating in a report on Thursday, January 22nd. Finally, Evercore set a $63.00 price objective on Equitable and gave the stock an “outperform” rating in a report on Thursday, April 9th. Two investment analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have given a Sell rating to the company. According to data from MarketBeat.com, Equitable presently has an average rating of “Moderate Buy” and a consensus target price of $56.91.

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.