Allspring Global Investments Holdings LLC Trims Holdings in Equitable Holdings, Inc. (NYSE:EQH)

Allspring Global Investments Holdings LLC cut its stake in Equitable Holdings, Inc. (NYSE:EQH) by 29.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 50,987 shares of the company’s stock after selling 20,783 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Equitable were worth $1,698,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Blue Trust Inc. grew its stake in Equitable by 126.2% in the 4th quarter. Blue Trust Inc. now owns 1,262 shares of the company’s stock worth $42,000 after acquiring an additional 704 shares in the last quarter. UMB Bank n.a. raised its stake in shares of Equitable by 128.3% during the third quarter. UMB Bank n.a. now owns 1,840 shares of the company’s stock valued at $52,000 after acquiring an additional 1,034 shares in the last quarter. Cary Street Partners Investment Advisory LLC purchased a new stake in shares of Equitable in the third quarter valued at approximately $67,000. CWM LLC grew its stake in Equitable by 23.6% in the third quarter. CWM LLC now owns 2,647 shares of the company’s stock worth $75,000 after purchasing an additional 506 shares in the last quarter. Finally, Fifth Third Bancorp increased its holdings in Equitable by 35.7% during the 4th quarter. Fifth Third Bancorp now owns 4,219 shares of the company’s stock worth $140,000 after purchasing an additional 1,109 shares during the period. Hedge funds and other institutional investors own 92.70% of the company’s stock.

Equitable Stock Performance

EQH stock opened at $37.03 on Tuesday. The firm has a 50-day simple moving average of $35.63 and a two-hundred day simple moving average of $32.41. Equitable Holdings, Inc. has a one year low of $21.89 and a one year high of $38.44. The firm has a market cap of $12.13 billion, a price-to-earnings ratio of 10.96 and a beta of 1.42.

Equitable (NYSE:EQH) last posted its earnings results on Tuesday, February 6th. The company reported $1.33 EPS for the quarter, beating analysts’ consensus estimates of $1.17 by $0.16. The firm had revenue of $3.55 billion for the quarter, compared to analysts’ expectations of $3.50 billion. As a group, equities analysts predict that Equitable Holdings, Inc. will post 6.01 earnings per share for the current fiscal year.

Equitable Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 4th. Stockholders of record on Monday, February 26th were given a $0.22 dividend. The ex-dividend date was Friday, February 23rd. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.38%. Equitable’s payout ratio is 26.04%.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on EQH shares. UBS Group upped their target price on Equitable from $34.00 to $40.00 and gave the stock a “buy” rating in a report on Wednesday, January 10th. Keefe, Bruyette & Woods upped their price objective on shares of Equitable from $39.00 to $41.00 and gave the stock a “market perform” rating in a research note on Wednesday, April 10th. Evercore ISI raised their target price on shares of Equitable from $42.00 to $46.00 and gave the company an “outperform” rating in a research report on Thursday, April 11th. JPMorgan Chase & Co. lowered shares of Equitable from an “overweight” rating to a “neutral” rating and boosted their price target for the company from $35.00 to $36.00 in a report on Wednesday, January 3rd. Finally, Jefferies Financial Group increased their price objective on shares of Equitable from $42.00 to $45.00 and gave the company a “buy” rating in a research note on Friday, March 22nd. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $39.67.

Insider Buying and Selling

In other Equitable news, CEO Mark Pearson sold 60,000 shares of the stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $32.38, for a total value of $1,942,800.00. Following the completion of the sale, the chief executive officer now directly owns 619,625 shares in the company, valued at $20,063,457.50. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other Equitable news, CEO Mark Pearson sold 60,000 shares of the business’s stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $32.38, for a total transaction of $1,942,800.00. Following the sale, the chief executive officer now owns 619,625 shares of the company’s stock, valued at approximately $20,063,457.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, COO Jeffrey J. Hurd sold 9,969 shares of the firm’s stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $34.28, for a total transaction of $341,737.32. Following the completion of the transaction, the chief operating officer now directly owns 160,622 shares of the company’s stock, valued at approximately $5,506,122.16. The disclosure for this sale can be found here. Insiders have sold a total of 241,907 shares of company stock worth $8,338,649 in the last ninety days. 1.02% of the stock is owned by insiders.

Equitable Company Profile

Equitable Holdings, Inc, together with its consolidated subsidiaries, operates as a diversified financial services company worldwide. The company operates through six segments: Individual Retirement, Group Retirement, Investment Management and Research, Protection Solutions, Wealth Management, and Legacy.