Tredje AP fonden Buys 20,477 Shares of Equitable Holdings, Inc. $EQH

Tredje AP fonden grew its stake in shares of Equitable Holdings, Inc. (NYSE:EQH) by 77.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 46,888 shares of the company’s stock after buying an additional 20,477 shares during the period. Tredje AP fonden’s holdings in Equitable were worth $2,381,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Truist Financial Corp increased its holdings in shares of Equitable by 180.7% in the 3rd quarter. Truist Financial Corp now owns 32,820 shares of the company’s stock worth $1,667,000 after buying an additional 21,127 shares during the last quarter. Mediolanum International Funds Ltd grew its position in Equitable by 26.5% in the third quarter. Mediolanum International Funds Ltd now owns 241,175 shares of the company’s stock worth $12,616,000 after acquiring an additional 50,455 shares in the last quarter. Atlantic Union Bankshares Corp bought a new position in Equitable in the third quarter valued at $1,684,000. Algebris UK Ltd. raised its position in Equitable by 28.6% during the third quarter. Algebris UK Ltd. now owns 712,460 shares of the company’s stock valued at $36,151,000 after purchasing an additional 158,488 shares in the last quarter. Finally, Pinnacle Associates Ltd. lifted its stake in Equitable by 53.9% during the second quarter. Pinnacle Associates Ltd. now owns 17,315 shares of the company’s stock worth $971,000 after purchasing an additional 6,065 shares during the last quarter. 92.70% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Equitable news, CAO William James Iv Eckert sold 4,300 shares of the stock in a transaction that occurred on Wednesday, December 10th. The stock was sold at an average price of $47.27, for a total value of $203,261.00. Following the completion of the sale, the chief accounting officer owned 15,625 shares in the company, valued at approximately $738,593.75. This trade represents a 21.58% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, COO Jeffrey J. Hurd sold 6,790 shares of the company’s stock in a transaction on Thursday, January 15th. The stock was sold at an average price of $47.65, for a total transaction of $323,543.50. Following the completion of the transaction, the chief operating officer owned 55,023 shares of the company’s stock, valued at $2,621,845.95. This trade represents a 10.98% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 157,280 shares of company stock valued at $7,455,677. 1.10% of the stock is currently owned by insiders.

Equitable Stock Performance

NYSE:EQH opened at $44.20 on Friday. The company has a debt-to-equity ratio of 16.42, a quick ratio of 0.13 and a current ratio of 0.10. Equitable Holdings, Inc. has a fifty-two week low of $41.39 and a fifty-two week high of $56.61. The firm has a market cap of $12.66 billion, a PE ratio of -9.17, a price-to-earnings-growth ratio of 0.34 and a beta of 1.12. The business has a 50 day moving average price of $46.72 and a 200-day moving average price of $48.68.

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

Equitable Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 11th. Shareholders of record on Wednesday, March 4th will be given a $0.27 dividend. The ex-dividend date is Wednesday, March 4th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 2.4%. Equitable’s payout ratio is presently -22.41%.

Analysts Set New Price Targets

Several equities analysts have recently commented on EQH shares. Mizuho set a $65.00 price objective on Equitable in a research report on Wednesday, January 14th. BMO Capital Markets reaffirmed an “outperform” rating on shares of Equitable in a research note on Wednesday, December 17th. Wall Street Zen downgraded shares of Equitable from a “hold” rating to a “sell” rating in a research note on Sunday, November 16th. The Goldman Sachs Group set a $60.00 price objective on shares of Equitable in a report on Monday, January 5th. Finally, Zacks Research lowered shares of Equitable from a “hold” rating to a “strong sell” rating in a report on Thursday, January 22nd. Two analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Equitable has a consensus rating of “Moderate Buy” and a consensus target price of $62.42.

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.