Hsbc Holdings PLC Has $39.55 Million Position in Equitable Holdings, Inc. $EQH

Hsbc Holdings PLC lessened its holdings in Equitable Holdings, Inc. (NYSE:EQH) by 7.1% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 826,042 shares of the company’s stock after selling 63,017 shares during the period. Hsbc Holdings PLC owned approximately 0.29% of Equitable worth $39,551,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Korea Investment CORP raised its stake in Equitable by 24.9% during the third quarter. Korea Investment CORP now owns 299,391 shares of the company’s stock worth $15,203,000 after acquiring an additional 59,700 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its position in shares of Equitable by 13.1% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 311,976 shares of the company’s stock worth $14,965,000 after purchasing an additional 36,135 shares in the last quarter. Prana Capital Management LP lifted its holdings in Equitable by 80.7% during the 3rd quarter. Prana Capital Management LP now owns 209,769 shares of the company’s stock valued at $10,652,000 after purchasing an additional 93,660 shares during the last quarter. JPMorgan Chase & Co. boosted its position in Equitable by 90.8% in the third quarter. JPMorgan Chase & Co. now owns 1,436,704 shares of the company’s stock valued at $72,956,000 after buying an additional 683,595 shares in the last quarter. Finally, Advent International L.P. bought a new stake in Equitable during the third quarter worth about $26,893,000. 92.70% of the stock is owned by institutional investors and hedge funds.

Equitable Trading Down 0.1%

Shares of EQH opened at $44.94 on Wednesday. The stock’s fifty day simple moving average is $42.22 and its 200-day simple moving average is $43.13. The firm has a market capitalization of $12.65 billion, a PE ratio of -15.82, a price-to-earnings-growth ratio of 0.49 and a beta of 1.10. Equitable Holdings, Inc. has a 12-month low of $35.19 and a 12-month high of $56.61. The company has a quick ratio of 0.11, a current ratio of 0.11 and a debt-to-equity ratio of 8.75.

Equitable (NYSE:EQH) last announced its quarterly earnings data on Monday, May 4th. The company reported $1.62 EPS for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $3.95 billion. During the same period last year, the company earned $1.35 earnings per share. The company’s revenue was down 7.6% on a year-over-year basis. As a group, research analysts predict that Equitable Holdings, Inc. will post 7.07 earnings per share for the current year.

Equitable Increases Dividend

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

Insider Activity at Equitable

In other Equitable news, insider Nick Lane sold 4,417 shares of the company’s stock in a transaction on Friday, May 15th. The shares were sold at an average price of $42.45, for a total transaction of $187,501.65. Following the completion of the sale, the insider owned 124,218 shares in the company, valued at approximately $5,273,054.10. The trade was a 3.43% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 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 firm’s stock in a transaction on Wednesday, June 10th. The stock was sold at an average price of $41.83, for a total value of $259,346.00. Following the completion of the transaction, the chief accounting officer owned 9,366 shares in the company, valued at $391,779.78. This represents a 39.83% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 216,919 shares of company stock worth $9,118,088. 1.10% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on EQH. Barclays lifted their target price on shares of Equitable from $49.00 to $51.00 and gave the company an “overweight” rating in a research note on Tuesday, May 5th. Wells Fargo & Company boosted their price objective on Equitable from $56.00 to $57.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 12th. JPMorgan Chase & Co. lowered their target price on Equitable from $58.00 to $57.00 and set an “overweight” rating for the company in a research note on Wednesday, April 29th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Equitable in a research report on Friday, May 29th. Finally, Morgan Stanley lowered their price objective on shares of Equitable from $59.00 to $54.00 and set an “overweight” rating for the company in a research report on Tuesday, March 3rd. Two analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have given a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $58.64.

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.