Richard Bernstein Advisors LLC Sells 51,759 Shares of Equitable Holdings, Inc. $EQH

Richard Bernstein Advisors LLC trimmed its holdings in Equitable Holdings, Inc. (NYSE:EQH) by 59.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 35,576 shares of the company’s stock after selling 51,759 shares during the period. Richard Bernstein Advisors LLC’s holdings in Equitable were worth $1,807,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the company. Groupe la Francaise grew its stake in shares of Equitable by 8.2% in the second quarter. Groupe la Francaise now owns 2,949 shares of the company’s stock valued at $165,000 after acquiring an additional 223 shares in the last quarter. ProShare Advisors LLC boosted its position in shares of Equitable by 2.1% during the 2nd quarter. ProShare Advisors LLC now owns 13,473 shares of the company’s stock worth $756,000 after acquiring an additional 271 shares in the last quarter. Wilmington Savings Fund Society FSB boosted its holdings in shares of Equitable by 11.7% in the 3rd quarter. Wilmington Savings Fund Society FSB now owns 2,634 shares of the company’s stock valued at $134,000 after purchasing an additional 275 shares in the last quarter. NFC Investments LLC boosted its stake in Equitable by 0.4% in the second quarter. NFC Investments LLC now owns 75,300 shares of the company’s stock valued at $4,224,000 after buying an additional 300 shares in the last quarter. Finally, MAI Capital Management boosted its stake in shares of Equitable by 64.0% in the 2nd quarter. MAI Capital Management now owns 938 shares of the company’s stock valued at $53,000 after purchasing an additional 366 shares in the last quarter. Institutional investors own 92.70% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. BMO Capital Markets restated an “outperform” rating on shares of Equitable in a research report on Wednesday, December 17th. The Goldman Sachs Group set a $60.00 price objective on shares of Equitable in a research note on Monday, January 5th. Weiss Ratings downgraded Equitable from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday, March 2nd. JPMorgan Chase & Co. decreased their price target on Equitable from $60.00 to $58.00 and set an “overweight” rating for the company in a research note on Thursday, February 5th. Finally, Barclays reduced their target price on Equitable from $58.00 to $57.00 and set an “overweight” rating on the stock in a report on Wednesday, February 4th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have given a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $60.64.

Equitable Stock Performance

EQH opened at $39.49 on Tuesday. 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 fifty day moving average price is $44.93 and its two-hundred day moving average price is $47.68. The company has a market cap of $11.07 billion, a price-to-earnings ratio of -8.19, a PEG ratio of 0.31 and a beta of 1.12. Equitable Holdings, Inc. has a 1-year low of $37.51 and a 1-year high of $56.61.

Equitable Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 11th. Shareholders of record on Wednesday, March 4th will be paid a dividend of $0.27 per share. The ex-dividend date is Wednesday, March 4th. This represents a $1.08 annualized dividend and a yield of 2.7%. Equitable’s dividend payout ratio (DPR) is -22.41%.

Equitable declared that its board has authorized a stock repurchase program on Wednesday, February 11th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the company to buy up to 7.7% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s leadership believes its shares are undervalued.

Insider Activity

In other news, CEO Mark Pearson sold 39,700 shares of the business’s 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 in the company, valued at $30,166,059. The trade was a 5.73% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO William James Iv Eckert sold 4,300 shares of the company’s stock in a transaction on Wednesday, December 10th. The shares were sold at an average price of $47.27, for a total value of $203,261.00. Following the completion of the transaction, the chief accounting officer owned 15,625 shares of the company’s stock, valued at $738,593.75. This trade represents a 21.58% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 157,280 shares of company stock worth $7,455,677. 1.10% of the stock is owned by 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.