Corebridge Financial Inc. Sells 23,824 Shares of Equitable Holdings, Inc. (NYSE:EQH)

Corebridge Financial Inc. lessened its holdings in shares of Equitable Holdings, Inc. (NYSE:EQH) by 6.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 358,198 shares of the company’s stock after selling 23,824 shares during the quarter. Corebridge Financial Inc.’s holdings in Equitable were worth $16,896,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of EQH. Nordea Investment Management AB raised its holdings in shares of Equitable by 700.3% in the 4th quarter. Nordea Investment Management AB now owns 1,563,172 shares of the company’s stock worth $74,126,000 after acquiring an additional 1,367,837 shares during the last quarter. Los Angeles Capital Management LLC boosted its position in Equitable by 608.1% in the fourth quarter. Los Angeles Capital Management LLC now owns 1,468,912 shares of the company’s stock worth $69,289,000 after purchasing an additional 1,261,466 shares during the last quarter. Amundi increased its position in shares of Equitable by 56.3% during the 4th quarter. Amundi now owns 2,659,691 shares of the company’s stock valued at $130,351,000 after purchasing an additional 957,828 shares during the last quarter. Wedge Capital Management L L P NC raised its stake in shares of Equitable by 1,092.4% during the 4th quarter. Wedge Capital Management L L P NC now owns 875,589 shares of the company’s stock worth $41,302,000 after purchasing an additional 802,160 shares during the period. Finally, Raymond James Financial Inc. purchased a new position in shares of Equitable in the 4th quarter worth about $29,939,000. Institutional investors and hedge funds own 92.70% of the company’s stock.

Insider Buying and Selling at Equitable

In other Equitable news, insider Nick Lane sold 5,000 shares of the firm’s stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $51.12, for a total value of $255,600.00. Following the sale, the insider now owns 139,073 shares of the company’s stock, valued at $7,109,411.76. This trade represents a 3.47 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Jeffrey J. Hurd sold 6,666 shares of the business’s stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $54.65, for a total value of $364,296.90. Following the transaction, the chief operating officer now directly owns 92,209 shares of the company’s stock, valued at $5,039,221.85. The trade was a 6.74 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 103,332 shares of company stock valued at $5,364,610 in the last three months. Company insiders own 1.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the stock. BMO Capital Markets raised their price target on shares of Equitable from $69.00 to $72.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 25th. Wells Fargo & Company increased their price objective on Equitable from $61.00 to $62.00 and gave the company an “overweight” rating in a report on Tuesday, February 25th. JPMorgan Chase & Co. boosted their target price on Equitable from $45.00 to $53.00 and gave the company a “neutral” rating in a research note on Tuesday, January 7th. Barclays upped their price target on Equitable from $60.00 to $61.00 and gave the company an “overweight” rating in a research report on Monday, January 6th. Finally, Deutsche Bank Aktiengesellschaft raised Equitable from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $47.00 to $58.00 in a report on Friday, January 10th. Two analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat.com, Equitable presently has an average rating of “Moderate Buy” and a consensus target price of $57.75.

Equitable Stock Performance

NYSE:EQH opened at $53.70 on Tuesday. The business’s fifty day moving average is $52.84 and its 200 day moving average is $48.08. The firm has a market cap of $16.53 billion, a price-to-earnings ratio of 14.06 and a beta of 1.39. The company has a debt-to-equity ratio of 3.07, a quick ratio of 0.12 and a current ratio of 0.07. Equitable Holdings, Inc. has a 52-week low of $35.49 and a 52-week high of $56.00.

Equitable (NYSE:EQH) last announced its quarterly earnings results on Wednesday, February 5th. The company reported $1.57 earnings per share for the quarter, missing the consensus estimate of $1.65 by ($0.08). Equitable had a net margin of 10.51% and a return on equity of 85.70%. Research analysts predict that Equitable Holdings, Inc. will post 7.33 EPS for the current year.

Equitable Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 12th. Shareholders of record on Wednesday, March 5th were paid a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 1.79%. The ex-dividend date of this dividend was Wednesday, March 5th. Equitable’s dividend payout ratio is presently 25.13%.

About Equitable

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.