EFG Asset Management Americas Corp. Acquires Shares of 35,653 Equitable Holdings, Inc. $EQH

EFG Asset Management Americas Corp. bought a new position in Equitable Holdings, Inc. (NYSE:EQH) in the 3rd quarter, Holdings Channel.com reports. The firm bought 35,653 shares of the company’s stock, valued at approximately $1,810,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Truist Financial Corp raised its stake in shares of Equitable by 180.7% during 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 in the last quarter. Mediolanum International Funds Ltd grew its holdings in Equitable by 26.5% during 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 during the period. Atlantic Union Bankshares Corp acquired a new position in Equitable during the third quarter worth $1,684,000. Algebris UK Ltd. lifted its holdings in Equitable by 28.6% in the third quarter. Algebris UK Ltd. now owns 712,460 shares of the company’s stock valued at $36,151,000 after acquiring an additional 158,488 shares during the period. Finally, Illinois Municipal Retirement Fund lifted its holdings in Equitable by 43.1% in the third quarter. Illinois Municipal Retirement Fund now owns 149,278 shares of the company’s stock valued at $7,580,000 after acquiring an additional 44,978 shares during the period. 92.70% of the stock is currently owned by institutional investors and hedge funds.

Equitable Price Performance

Shares of NYSE EQH opened at $37.18 on Friday. The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 16.42. The company’s 50-day moving average price is $44.14 and its 200 day moving average price is $47.28. Equitable Holdings, Inc. has a 52 week low of $36.79 and a 52 week high of $56.61. The stock has a market cap of $10.42 billion, a price-to-earnings ratio of -7.71, a PEG ratio of 0.33 and a beta of 1.12.

Equitable Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 11th. Stockholders of record on Wednesday, March 4th were given a $0.27 dividend. The ex-dividend date was Wednesday, March 4th. This represents a $1.08 annualized dividend and a dividend yield of 2.9%. Equitable’s dividend payout ratio is currently -22.41%.

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

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on EQH shares. Raymond James Financial set a $60.00 price target on shares of Equitable in a research note on Monday, January 5th. BMO Capital Markets reissued an “outperform” rating on shares of Equitable in a report on Wednesday, December 17th. Zacks Research lowered shares of Equitable from a “hold” rating to a “strong sell” rating in a research report on Thursday, January 22nd. Mizuho set a $65.00 price target on shares of Equitable in a research report on Wednesday, January 14th. Finally, Weiss Ratings lowered Equitable from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday, March 2nd. Two equities research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $60.64.

Insider Activity

In other news, insider Nick Lane sold 30,000 shares of the firm’s stock in a transaction that occurred on Thursday, January 15th. The shares were sold at an average price of $47.65, for a total transaction of $1,429,500.00. Following the completion of the transaction, the insider directly owned 99,958 shares of the company’s stock, valued at $4,762,998.70. This trade represents a 23.08% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Mark Pearson sold 39,700 shares of Equitable stock in a transaction that occurred on Tuesday, January 20th. The stock was sold at an average price of $46.20, for a total value of $1,834,140.00. Following the transaction, the chief executive officer owned 652,945 shares of the company’s stock, valued at $30,166,059. This represents a 5.73% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 152,980 shares of company stock worth $7,252,416 over the last ninety days. 1.10% of the stock is currently owned by insiders.

Equitable Profile

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.