Deutsche Bank AG Cuts Stake in Equitable Holdings, Inc. (NYSE:EQH)

Deutsche Bank AG lowered its holdings in shares of Equitable Holdings, Inc. (NYSE:EQH) by 42.5% during the 1st quarter, Holdings Channel.com reports. The firm owned 756,576 shares of the company’s stock after selling 558,215 shares during the quarter. Deutsche Bank AG’s holdings in Equitable were worth $39,410,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in EQH. MV Capital Management Inc. bought a new position in shares of Equitable during the first quarter valued at about $26,000. Bessemer Group Inc. boosted its holdings in Equitable by 111.2% during the 4th quarter. Bessemer Group Inc. now owns 678 shares of the company’s stock valued at $32,000 after acquiring an additional 357 shares during the period. McIlrath & Eck LLC boosted its holdings in Equitable by 154.3% during the 4th quarter. McIlrath & Eck LLC now owns 1,386 shares of the company’s stock valued at $65,000 after acquiring an additional 841 shares during the period. Wayfinding Financial LLC bought a new position in Equitable during the 1st quarter worth approximately $80,000. Finally, Picton Mahoney Asset Management purchased a new position in Equitable in the 1st quarter worth approximately $104,000. Hedge funds and other institutional investors own 92.70% of the company’s stock.

Equitable Stock Up 3.3%

Shares of NYSE:EQH opened at $54.85 on Wednesday. The firm has a market capitalization of $16.54 billion, a P/E ratio of 44.23 and a beta of 1.14. The company has a debt-to-equity ratio of 3.13, a quick ratio of 0.10 and a current ratio of 0.09. The stock has a 50 day moving average price of $53.19 and a 200-day moving average price of $52.14. Equitable Holdings, Inc. has a 52-week low of $37.99 and a 52-week high of $56.61.

Equitable Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 12th. Stockholders of record on Tuesday, August 5th were given a $0.27 dividend. The ex-dividend date of this dividend was Tuesday, August 5th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 2.0%. Equitable’s dividend payout ratio is currently 87.10%.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. Evercore ISI cut their target price on shares of Equitable from $69.00 to $64.00 and set an “outperform” rating on the stock in a report on Thursday, May 1st. Wells Fargo & Company cut their price target on shares of Equitable from $66.00 to $63.00 and set an “overweight” rating on the stock in a report on Friday. Morgan Stanley restated an “overweight” rating and issued a $68.00 price objective (up previously from $67.00) on shares of Equitable in a research report on Monday, July 14th. UBS Group dropped their target price on shares of Equitable from $77.00 to $75.00 and set a “buy” rating for the company in a report on Tuesday, May 27th. Finally, Keefe, Bruyette & Woods boosted their price target on Equitable from $63.00 to $64.00 and gave the company an “outperform” rating in a report on Wednesday, July 9th. One research analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $65.00.

Insider Buying and Selling at Equitable

In other news, CAO William James Iv Eckert sold 4,000 shares of the business’s stock in a transaction that occurred on Friday, June 20th. The stock was sold at an average price of $53.09, for a total value of $212,360.00. Following the sale, the chief accounting officer directly owned 19,827 shares of the company’s stock, valued at $1,052,615.43. The trade was a 16.79% decrease in their position. The sale 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 the business’s stock in a transaction on Thursday, May 15th. The stock was sold at an average price of $52.91, for a total value of $264,550.00. Following the completion of the sale, the insider directly owned 139,073 shares in the company, valued at $7,358,352.43. This trade represents a 3.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 135,666 shares of company stock valued at $7,145,208 over the last 90 days. 1.10% of the stock is owned by corporate insiders.

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.