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

Corebridge Financial Inc. lowered its stake in shares of Equitable Holdings, Inc. (NYSE:EQH) by 6.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 358,198 shares of the company’s stock after selling 23,824 shares during the quarter. Corebridge Financial Inc. owned about 0.11% of Equitable worth $16,896,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Versant Capital Management Inc increased its position in shares of Equitable by 195.6% in the fourth quarter. Versant Capital Management Inc now owns 532 shares of the company’s stock worth $25,000 after purchasing an additional 352 shares during the period. Assetmark Inc. grew its stake in Equitable by 33.2% during the fourth quarter. Assetmark Inc. now owns 799 shares of the company’s stock worth $38,000 after buying an additional 199 shares in the last quarter. MassMutual Private Wealth & Trust FSB increased its holdings in Equitable by 298.3% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 1,689 shares of the company’s stock valued at $80,000 after buying an additional 1,265 shares during the period. Smartleaf Asset Management LLC raised its position in shares of Equitable by 31.5% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,707 shares of the company’s stock valued at $80,000 after buying an additional 409 shares in the last quarter. Finally, Principal Securities Inc. lifted its holdings in shares of Equitable by 82.7% during the 4th quarter. Principal Securities Inc. now owns 1,805 shares of the company’s stock worth $85,000 after acquiring an additional 817 shares during the period. 92.70% of the stock is owned by institutional investors and hedge funds.

Equitable Stock Performance

NYSE:EQH opened at $53.70 on Tuesday. The stock’s 50-day moving average is $52.84 and its 200-day moving average is $48.08. Equitable Holdings, Inc. has a 1-year low of $35.49 and a 1-year high of $56.00. The company has a current ratio of 0.07, a quick ratio of 0.12 and a debt-to-equity ratio of 3.07. The stock has a market cap of $16.53 billion, a P/E ratio of 14.06 and a beta of 1.39.

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

Equitable Dividend Announcement

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

Insiders Place Their Bets

In other news, CEO Mark Pearson sold 30,000 shares of the company’s stock in a transaction on Friday, March 14th. The shares were sold at an average price of $51.16, for a total value of $1,534,800.00. Following the sale, the chief executive officer now directly owns 753,206 shares of the company’s stock, valued at approximately $38,534,018.96. This represents a 3.83 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Nick Lane sold 5,000 shares of Equitable stock in a transaction on Friday, March 14th. The stock was sold at an average price of $51.12, for a total transaction of $255,600.00. Following the transaction, the insider now directly owns 139,073 shares of the company’s stock, valued at $7,109,411.76. This represents a 3.47 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 103,332 shares of company stock valued at $5,364,610. 1.10% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

EQH has been the subject of several research analyst reports. Deutsche Bank Aktiengesellschaft upgraded shares of Equitable from a “hold” rating to a “buy” rating and boosted their price objective for the company from $47.00 to $58.00 in a research report on Friday, January 10th. BMO Capital Markets boosted their price target on Equitable from $69.00 to $72.00 and gave the stock an “outperform” rating in a report on Tuesday, February 25th. Barclays raised their price objective on Equitable from $60.00 to $61.00 and gave the company an “overweight” rating in a research note on Monday, January 6th. Morgan Stanley boosted their target price on Equitable from $66.00 to $68.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 11th. Finally, Keefe, Bruyette & Woods increased their target price on shares of Equitable from $62.00 to $66.00 and gave the stock an “outperform” rating in a report on Friday, February 28th. Two analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $57.75.

Equitable 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.