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

Wellington Management Group LLP boosted its holdings in shares of Equitable Holdings, Inc. (NYSE:EQH) by 6.3% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 8,784,986 shares of the company’s stock after purchasing an additional 523,638 shares during the period. Wellington Management Group LLP’s holdings in Equitable were worth $385,485,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Geneos Wealth Management Inc. boosted 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 buying an additional 424 shares in the last quarter. Jump Financial LLC acquired a new position in Equitable during the second quarter worth about $1,712,000. Gamco Investors INC. ET AL acquired a new position in Equitable during the second quarter worth about $1,133,000. Qube Research & Technologies Ltd lifted its holdings in shares of Equitable by 1,126.5% in the second quarter. Qube Research & Technologies Ltd now owns 291,126 shares of the company’s stock worth $16,332,000 after acquiring an additional 267,389 shares during the last quarter. Finally, Sei Investments Co. lifted its holdings in shares of Equitable by 45.8% in the second quarter. Sei Investments Co. now owns 626,017 shares of the company’s stock worth $35,120,000 after acquiring an additional 196,729 shares during the last quarter. Institutional investors own 92.70% of the company’s stock.

Equitable Stock Performance

NYSE EQH 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 quick ratio of 0.15, a current ratio of 0.15 and a debt-to-equity ratio of 8.75. Equitable Holdings, Inc. has a twelve month low of $35.19 and a twelve month high of $55.15. The stock has a fifty day simple moving average of $48.30 and a 200 day simple moving average of $43.58.

Equitable (NYSE:EQH) last released its quarterly earnings results on Tuesday, August 4th. The company reported $1.70 EPS for the quarter, beating analysts’ consensus estimates of $1.65 by $0.05. The firm had revenue of $1.66 billion for the quarter, compared to analyst estimates of $3.84 billion. Equitable had a positive return on equity of 511.35% and a negative net margin of 8.72%.The business’s revenue was down 29.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.10 EPS. Sell-side analysts expect that Equitable Holdings, Inc. will post 7.18 EPS for the current year.

Equitable Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, August 10th. Investors of record on Monday, August 3rd were issued a $0.30 dividend. The ex-dividend date was Monday, August 3rd. This represents a $1.20 annualized dividend and a yield of 2.4%. Equitable’s dividend payout ratio is presently -36.25%.

Insiders Place Their Bets

In other Equitable news, CEO Mark Pearson sold 39,700 shares of the stock in a transaction that occurred on Monday, July 20th. The shares were sold at an average price of $48.54, for a total transaction of $1,927,038.00. Following the completion of the sale, the chief executive officer owned 753,403 shares of the company’s stock, valued at approximately $36,570,181.62. This represents a 5.01% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Bertram L. Scott sold 1,466 shares of the firm’s stock in a transaction that occurred on Thursday, August 6th. The stock was sold at an average price of $51.15, for a total transaction of $74,985.90. Following the transaction, the director owned 26,465 shares of the company’s stock, valued at approximately $1,353,684.75. The trade was a 5.25% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 114,541 shares of company stock valued at $5,357,784 over the last three months. Insiders own 1.00% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on EQH. Weiss Ratings lowered shares of Equitable from a “hold (c-)” rating to a “sell (d+)” rating in a report on Wednesday, August 5th. Wolfe Research downgraded shares of Equitable from an “outperform” rating to a “peer perform” rating in a research note on Thursday, July 9th. Wells Fargo & Company raised their target price on shares of Equitable from $60.00 to $64.00 and gave the company an “overweight” rating in a research report on Wednesday, August 19th. Barclays boosted their target price on shares of Equitable from $50.00 to $52.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 5th. Finally, Mizuho set a $68.00 price target on shares of Equitable in a report on Thursday, August 6th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $61.75.

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.