Skandinaviska Enskilda Banken AB publ Lowers Holdings in Equitable Holdings, Inc. $EQH

Skandinaviska Enskilda Banken AB publ trimmed its position in shares of Equitable Holdings, Inc. (NYSE:EQH) by 49.2% during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 166,372 shares of the company’s stock after selling 161,402 shares during the quarter. Skandinaviska Enskilda Banken AB publ owned about 0.06% of Equitable worth $8,448,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Truist Financial Corp increased its position in Equitable by 180.7% during the third quarter. Truist Financial Corp now owns 32,820 shares of the company’s stock valued at $1,667,000 after acquiring an additional 21,127 shares during the last quarter. Mediolanum International Funds Ltd increased its position in shares of Equitable by 26.5% during the 3rd quarter. Mediolanum International Funds Ltd now owns 241,175 shares of the company’s stock valued at $12,616,000 after purchasing an additional 50,455 shares during the last quarter. Atlantic Union Bankshares Corp bought a new position in shares of Equitable in the 3rd quarter worth approximately $1,684,000. Algebris UK Ltd. boosted its holdings in shares of Equitable by 28.6% in the third quarter. Algebris UK Ltd. now owns 712,460 shares of the company’s stock worth $36,151,000 after buying an additional 158,488 shares during the last quarter. Finally, Pinnacle Associates Ltd. grew its position in Equitable by 53.9% during the second quarter. Pinnacle Associates Ltd. now owns 17,315 shares of the company’s stock valued at $971,000 after buying an additional 6,065 shares during the period. 92.70% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Wells Fargo & Company dropped their price target on shares of Equitable from $62.00 to $60.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 13th. Barclays lowered their target price on Equitable from $58.00 to $57.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 4th. BMO Capital Markets restated an “outperform” rating on shares of Equitable in a research report on Wednesday, December 17th. Raymond James Financial set a $60.00 price objective on Equitable in a research note on Monday, January 5th. Finally, JPMorgan Chase & Co. lowered their price objective on Equitable from $60.00 to $58.00 and set an “overweight” rating on the stock in a research report on Thursday, February 5th. Two investment analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $62.42.

Equitable Stock Performance

NYSE:EQH opened at $45.61 on Thursday. The stock has a 50-day moving average price of $46.89 and a 200 day moving average price of $48.77. The stock has a market capitalization of $13.07 billion, a P/E ratio of -9.46, a P/E/G ratio of 0.35 and a beta of 1.12. Equitable Holdings, Inc. has a 12-month low of $41.39 and a 12-month high of $56.61. The company has a current ratio of 0.10, a quick ratio of 0.13 and a debt-to-equity ratio of 16.42.

Equitable Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 11th. Stockholders of record on Wednesday, March 4th will be given a dividend of $0.27 per share. The ex-dividend date is Wednesday, March 4th. This represents a $1.08 annualized dividend and a dividend yield of 2.4%. Equitable’s dividend payout ratio (DPR) is presently -22.41%.

Equitable declared that its Board of Directors has approved a share repurchase plan on Wednesday, February 11th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the company to repurchase up to 7.7% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s management believes its shares are undervalued.

Insider Activity at Equitable

In related news, CEO Mark Pearson sold 39,700 shares of the company’s stock in a transaction on Tuesday, January 20th. The shares were sold at an average price of $46.20, for a total transaction of $1,834,140.00. Following the completion of the transaction, the chief executive officer owned 652,945 shares in the company, valued at approximately $30,166,059. This represents a 5.73% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Jeffrey J. Hurd sold 6,790 shares of the firm’s stock in a transaction on Thursday, January 15th. The shares were sold at an average price of $47.65, for a total transaction of $323,543.50. Following the transaction, the chief operating officer directly owned 55,023 shares of the company’s stock, valued at $2,621,845.95. The trade was a 10.98% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 157,280 shares of company stock worth $7,455,677 over the last ninety days. 1.10% of the stock is owned by corporate 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.