Hsbc Holdings PLC Sells 63,017 Shares of Equitable Holdings, Inc. $EQH

Hsbc Holdings PLC lowered its position in shares of Equitable Holdings, Inc. (NYSE:EQH) by 7.1% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 826,042 shares of the company’s stock after selling 63,017 shares during the quarter. Hsbc Holdings PLC’s holdings in Equitable were worth $39,551,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Norges Bank acquired a new stake in Equitable in the fourth quarter worth $550,995,000. Capital International Investors grew its holdings in shares of Equitable by 49.5% in the 3rd quarter. Capital International Investors now owns 11,012,837 shares of the company’s stock valued at $559,232,000 after buying an additional 3,645,301 shares during the period. Bank of Montreal Can increased its position in shares of Equitable by 7,955.4% in the 4th quarter. Bank of Montreal Can now owns 2,424,823 shares of the company’s stock valued at $116,585,000 after buying an additional 2,394,721 shares in the last quarter. Diamond Hill Capital Management Inc. raised its stake in Equitable by 114.8% during the 4th quarter. Diamond Hill Capital Management Inc. now owns 4,294,644 shares of the company’s stock worth $204,640,000 after buying an additional 2,294,902 shares during the period. Finally, London Co. of Virginia raised its stake in Equitable by 4,141.8% during the 3rd quarter. London Co. of Virginia now owns 1,235,243 shares of the company’s stock worth $62,726,000 after buying an additional 1,206,122 shares during the period. Institutional investors own 92.70% of the company’s stock.

Equitable Stock Down 0.1%

EQH stock opened at $44.94 on Wednesday. The company has a debt-to-equity ratio of 8.75, a current ratio of 0.11 and a quick ratio of 0.11. The stock has a market capitalization of $12.65 billion, a P/E ratio of -15.82, a P/E/G ratio of 0.49 and a beta of 1.10. Equitable Holdings, Inc. has a fifty-two week low of $35.19 and a fifty-two week high of $56.61. The business has a 50-day moving average of $42.22 and a 200-day moving average of $43.13.

Equitable (NYSE:EQH) last released its earnings results on Monday, May 4th. The company reported $1.62 EPS for the quarter, beating the consensus estimate of $1.60 by $0.02. Equitable had a positive return on equity of 232.29% and a negative net margin of 7.26%.The firm had revenue of $4.23 billion for the quarter, compared to analysts’ expectations of $3.95 billion. During the same quarter in the previous year, the business posted $1.35 EPS. The business’s quarterly revenue was down 7.6% compared to the same quarter last year. On average, sell-side analysts anticipate that Equitable Holdings, Inc. will post 7.07 earnings per share for the current fiscal year.

Equitable Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 8th. Stockholders of record on Monday, June 1st were issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.7%. This is a boost from Equitable’s previous quarterly dividend of $0.27. The ex-dividend date was Monday, June 1st. Equitable’s dividend payout ratio is -42.25%.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. Wells Fargo & Company boosted their target price on Equitable from $56.00 to $57.00 and gave the company an “overweight” rating in a research note on Tuesday, May 12th. Raymond James Financial set a $58.00 price target on Equitable and gave the stock a “strong-buy” rating in a research report on Thursday, April 16th. Barclays lifted their price objective on Equitable from $49.00 to $51.00 and gave the company an “overweight” rating in a report on Tuesday, May 5th. JPMorgan Chase & Co. 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, April 29th. Finally, Weiss Ratings reissued a “sell (d+)” rating on shares of Equitable in a research note on Friday, May 29th. Two analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have given a Sell rating to the stock. According to MarketBeat.com, Equitable presently has a consensus rating of “Moderate Buy” and a consensus target price of $58.64.

Insiders Place Their Bets

In other Equitable news, COO Jeffrey J. Hurd sold 14,358 shares of Equitable stock in a transaction on Monday, June 15th. The shares were sold at an average price of $45.11, for a total value of $647,689.38. Following the sale, the chief operating officer directly owned 74,748 shares in the company, valued at approximately $3,371,882.28. The trade was a 16.11% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO William James Iv Eckert sold 6,200 shares of the business’s stock in a transaction dated Wednesday, June 10th. The stock was sold at an average price of $41.83, for a total transaction of $259,346.00. Following the sale, the chief accounting officer directly owned 9,366 shares in the company, valued at $391,779.78. This trade represents a 39.83% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 216,919 shares of company stock valued at $9,118,088 over the last 90 days. 1.10% of the stock is currently owned by company 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.