Legacy Wealth Management LLC MS Has $1.28 Million Stock Holdings in Equitable Holdings, Inc. $EQH

Legacy Wealth Management LLC MS trimmed its holdings in shares of Equitable Holdings, Inc. (NYSE:EQH) by 25.5% in the second quarter, Holdings Channel.com reports. The firm owned 29,240 shares of the company’s stock after selling 10,000 shares during the quarter. Legacy Wealth Management LLC MS’s holdings in Equitable were worth $1,283,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the stock. Price T Rowe Associates Inc. MD boosted its holdings in shares of Equitable by 7.0% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 17,258,124 shares of the company’s stock valued at $822,351,000 after buying an additional 1,132,861 shares during the period. Capital International Investors lifted its position in Equitable by 23.0% in the 4th quarter. Capital International Investors now owns 13,545,628 shares of the company’s stock valued at $645,449,000 after acquiring an additional 2,532,791 shares in the last quarter. Norges Bank bought a new stake in Equitable in the 4th quarter valued at $550,995,000. Thornburg Investment Management Inc. boosted its stake in Equitable by 0.5% in the 4th quarter. Thornburg Investment Management Inc. now owns 4,889,730 shares of the company’s stock worth $232,996,000 after purchasing an additional 22,087 shares during the period. Finally, Massachusetts Financial Services Co. MA increased its holdings in Equitable by 4.2% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 4,822,908 shares of the company’s stock worth $229,812,000 after purchasing an additional 193,640 shares in the last quarter. 92.70% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have issued reports on EQH. Barclays lifted their price target on Equitable from $50.00 to $52.00 and gave the company an “overweight” rating in a research note on Wednesday. Zacks Research upgraded Equitable from a “strong sell” rating to a “hold” rating in a report on Monday, June 29th. Jefferies Financial Group raised their price target on shares of Equitable from $64.00 to $66.00 and gave the stock a “buy” rating in a research note on Friday, July 10th. Weiss Ratings downgraded shares of Equitable from a “hold (c-)” rating to a “sell (d+)” rating in a report on Wednesday. Finally, Keefe, Bruyette & Woods increased their target price on shares of Equitable from $60.00 to $62.00 and gave the stock an “outperform” rating in a report on Monday, July 13th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Equitable has a consensus rating of “Moderate Buy” and an average price target of $60.75.

Equitable Trading Down 1.2%

NYSE EQH opened at $51.57 on Friday. The company has a market cap of $14.08 billion, a PE ratio of -15.58, a PEG ratio of 0.51 and a beta of 1.09. Equitable Holdings, Inc. has a 12 month low of $35.19 and a 12 month high of $55.24. The stock has a 50 day moving average of $45.98 and a 200-day moving average of $43.07. The company has a current ratio of 0.12, a quick ratio of 0.11 and a debt-to-equity ratio of 4.94.

Equitable (NYSE:EQH) last announced its quarterly earnings results on Tuesday, August 4th. The company reported $1.70 EPS for the quarter, beating analysts’ consensus estimates of $1.65 by $0.05. Equitable had a negative net margin of 8.72% and a positive return on equity of 249.82%. The firm had revenue of $1.66 billion during the quarter, compared to analysts’ expectations of $3.84 billion. During the same quarter last year, the company posted $1.10 earnings per share. The company’s revenue for the quarter was down 29.8% compared to the same quarter last year. On average, equities research analysts anticipate that Equitable Holdings, Inc. will post 7.13 EPS for the current fiscal year.

Equitable Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, August 10th. Investors of record on Monday, August 3rd will be issued a dividend of $0.30 per share. The ex-dividend date is Monday, August 3rd. This represents a $1.20 dividend on an annualized basis and a yield of 2.3%. Equitable’s dividend payout ratio (DPR) is presently -36.25%.

Insider Activity

In other Equitable news, insider Nick Lane sold 4,417 shares of the firm’s stock in a transaction on Friday, May 15th. The stock was 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 of the company’s stock, valued at $5,273,054.10. This trade represents a 3.43% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO William James Iv Eckert sold 7,300 shares of the company’s stock in a transaction on Friday, May 15th. The shares were sold at an average price of $42.48, for a total transaction of $310,104.00. Following the completion of the transaction, the chief accounting officer owned 15,506 shares in the company, valued at approximately $658,694.88. This represents a 32.01% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 128,503 shares of company stock valued at $5,840,116. 1.10% of the stock is owned by insiders.

About Equitable

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.