Swiss National Bank Trims Stock Holdings in Equitable Holdings, Inc. $EQH

Swiss National Bank cut its holdings in shares of Equitable Holdings, Inc. (NYSE:EQH) by 5.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 876,000 shares of the company’s stock after selling 52,800 shares during the period. Swiss National Bank owned 0.31% of Equitable worth $44,483,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of EQH. Root Financial Partners LLC acquired a new stake in Equitable during the 3rd quarter worth $36,000. Hilltop National Bank purchased a new position in Equitable during the 3rd quarter worth $37,000. Geneos Wealth Management Inc. increased its stake in Equitable by 92.6% in the first quarter. Geneos Wealth Management Inc. now owns 882 shares of the company’s stock valued at $46,000 after purchasing an additional 424 shares during the period. MAI Capital Management raised its holdings in shares of Equitable by 64.0% in the second quarter. MAI Capital Management now owns 938 shares of the company’s stock valued at $53,000 after buying an additional 366 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB raised its holdings in shares of Equitable by 11.7% in the third quarter. Wilmington Savings Fund Society FSB now owns 2,634 shares of the company’s stock valued at $134,000 after buying an additional 275 shares during the last quarter. 92.70% of the stock is owned by institutional investors and hedge funds.

Equitable Trading Down 3.2%

Shares of Equitable stock opened at $37.02 on Friday. The firm has a market cap of $10.38 billion, a price-to-earnings ratio of -7.68, a price-to-earnings-growth ratio of 0.34 and a beta of 1.12. Equitable Holdings, Inc. has a 52-week low of $36.79 and a 52-week high of $56.61. The company’s 50-day simple moving average is $44.36 and its 200-day simple moving average is $47.44. The company has a quick ratio of 0.13, a current ratio of 0.13 and a debt-to-equity ratio of 16.42.

Equitable Announces Dividend

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

Equitable declared that its Board of Directors has initiated a share buyback plan on Wednesday, February 11th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the company to reacquire up to 7.7% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s leadership believes its stock is undervalued.

Analyst Ratings Changes

A number of equities analysts recently issued reports on EQH shares. Morgan Stanley lowered their price target on Equitable from $59.00 to $54.00 and set an “overweight” rating on the stock in a report on Tuesday, March 3rd. Weiss Ratings downgraded Equitable from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday, March 2nd. Barclays decreased their price objective on Equitable from $58.00 to $57.00 and set an “overweight” rating for the company in a research report on Wednesday, February 4th. BMO Capital Markets reiterated an “outperform” rating on shares of Equitable in a research note on Wednesday, December 17th. Finally, Wall Street Zen raised Equitable from a “sell” rating to a “hold” rating in a report on Saturday, February 28th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and two have given a Sell rating to the company. According to MarketBeat.com, Equitable currently has an average rating of “Moderate Buy” and an average price target of $60.64.

Insider Activity

In related news, COO Jeffrey J. Hurd sold 6,790 shares of Equitable stock in a transaction that occurred on Thursday, January 15th. The stock was sold at an average price of $47.65, for a total value of $323,543.50. Following the sale, the chief operating officer directly owned 55,023 shares in the company, valued at $2,621,845.95. The trade was a 10.98% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Nick Lane sold 30,000 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 value of $1,429,500.00. Following the transaction, the insider directly owned 99,958 shares in the company, valued at $4,762,998.70. This represents a 23.08% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 152,980 shares of company stock valued at $7,252,416 in the last three months. 1.10% of the stock is currently owned by company 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.