Wellington Management Group LLP Has $385.49 Million Holdings in Equitable Holdings, Inc. $EQH

Wellington Management Group LLP lifted its holdings in Equitable Holdings, Inc. (NYSE:EQH) by 6.3% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,784,986 shares of the company’s stock after purchasing an additional 523,638 shares during the quarter. Wellington Management Group LLP owned 3.22% of Equitable worth $385,485,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the business. Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in shares of Equitable by 13.1% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 311,976 shares of the company’s stock worth $14,965,000 after purchasing an additional 36,135 shares in the last quarter. The Manufacturers Life Insurance Company grew its stake in shares of Equitable by 20.0% in the first quarter. The Manufacturers Life Insurance Company now owns 627,169 shares of the company’s stock valued at $23,274,000 after buying an additional 104,439 shares in the last quarter. Norges Bank acquired a new position in Equitable during the fourth quarter worth $550,995,000. PFA Pension Forsikringsaktieselskab acquired a new position in Equitable during the fourth quarter worth $49,209,000. Finally, Diamond Hill Capital Management Inc. raised its position in Equitable by 114.8% during the fourth quarter. Diamond Hill Capital Management Inc. now owns 4,294,644 shares of the company’s stock worth $204,640,000 after acquiring an additional 2,294,902 shares in the last quarter. Institutional investors own 92.70% of the company’s stock.

Wall Street Analysts Forecast Growth

EQH has been the subject of several recent analyst reports. Keefe, Bruyette & Woods raised their target price on shares of Equitable from $62.00 to $67.00 and gave the company an “outperform” rating in a research note on Tuesday, August 11th. UBS Group raised their price objective on Equitable from $63.00 to $68.00 and gave the company a “buy” rating in a research report on Wednesday, July 8th. Mizuho set a $68.00 target price on Equitable in a research note on Thursday, August 6th. Evercore reissued an “outperform” rating and set a $66.00 target price on shares of Equitable in a report on Thursday, August 20th. Finally, Wolfe Research cut Equitable from an “outperform” rating to a “peer perform” rating in a research note on Thursday, July 9th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $61.75.

Equitable Price Performance

Equitable stock opened at $50.15 on Friday. The company has a market capitalization of $13.69 billion, a price-to-earnings ratio of -15.15, a PEG ratio of 0.49 and a beta of 1.09. The company has a current ratio of 0.15, a quick ratio of 0.15 and a debt-to-equity ratio of 8.75. Equitable Holdings, Inc. has a 12 month low of $35.19 and a 12 month high of $55.15. The stock’s 50 day moving average is $48.30 and its 200-day moving average is $43.58.

Equitable (NYSE:EQH) last posted its quarterly earnings data on Tuesday, August 4th. The company reported $1.70 earnings per share for the quarter, topping the consensus estimate of $1.65 by $0.05. Equitable had a positive return on equity of 511.35% and a negative net margin of 8.72%.The firm had revenue of $1.66 billion for the quarter, compared to analysts’ expectations of $3.84 billion. During the same quarter last year, the business earned $1.10 EPS. The company’s quarterly revenue was down 29.8% compared to the same quarter last year. Equities research analysts expect that Equitable Holdings, Inc. will post 7.18 EPS for the current year.

Equitable Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, August 10th. Investors of record on Monday, August 3rd were given a dividend of $0.30 per share. The ex-dividend date of this dividend was Monday, August 3rd. This represents a $1.20 dividend on an annualized basis and a yield of 2.4%. Equitable’s dividend payout ratio is currently -36.25%.

Insider Buying and Selling at Equitable

In other news, CAO William James Iv Eckert sold 947 shares of the stock in a transaction on Monday, August 10th. The stock was sold at an average price of $52.88, for a total transaction of $50,077.36. Following the sale, the chief accounting officer directly owned 8,419 shares of the company’s stock, valued at approximately $445,196.72. This represents a 10.11% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Craig C. Mackay sold 2,200 shares of the stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $51.37, for a total value of $113,014.00. Following the sale, the director directly owned 18,999 shares in the company, valued at approximately $975,978.63. This trade represents a 10.38% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 114,541 shares of company stock valued at $5,357,784 over the last ninety days. 1.00% of the stock is owned by corporate insiders.

Equitable Company 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.