Prana Capital Management LP Purchases 93,660 Shares of Equitable Holdings, Inc. $EQH

Prana Capital Management LP increased its position in shares of Equitable Holdings, Inc. (NYSE:EQH) by 80.7% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 209,769 shares of the company’s stock after acquiring an additional 93,660 shares during the period. Prana Capital Management LP owned about 0.07% of Equitable worth $10,652,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Johnson Financial Group Inc. acquired a new stake in shares of Equitable during the third quarter valued at about $26,000. Root Financial Partners LLC bought a new position in Equitable in the 3rd quarter valued at approximately $36,000. Hilltop National Bank bought a new position in Equitable in the 3rd quarter valued at approximately $37,000. Caitong International Asset Management Co. Ltd acquired a new stake in Equitable during the 3rd quarter worth approximately $38,000. Finally, Geneos Wealth Management Inc. boosted its position in Equitable by 92.6% during the 1st quarter. Geneos Wealth Management Inc. now owns 882 shares of the company’s stock worth $46,000 after buying an additional 424 shares during the period. Institutional investors and hedge funds own 92.70% of the company’s stock.

Insider Activity

In related news, insider Nick Lane sold 30,000 shares of the company’s stock in a transaction dated Thursday, January 15th. The stock was sold at an average price of $47.65, for a total transaction of $1,429,500.00. Following the sale, the insider owned 99,958 shares in the company, valued at $4,762,998.70. This represents a 23.08% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Jeffrey J. Hurd sold 6,790 shares of the firm’s stock in a transaction that occurred on Thursday, January 15th. The stock was sold at an average price of $47.65, for a total value of $323,543.50. Following the sale, the chief operating officer directly owned 55,023 shares of the company’s stock, valued at $2,621,845.95. This represents a 10.98% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 146,190 shares of company stock valued at $6,924,120 in the last ninety days. 1.10% of the stock is owned by company insiders.

Equitable Price Performance

Shares of NYSE EQH opened at $38.54 on Wednesday. The company has a market capitalization of $10.81 billion, a PE ratio of -8.00, a P/E/G ratio of 0.33 and a beta of 1.12. The company has a quick ratio of 0.13, a current ratio of 0.13 and a debt-to-equity ratio of 16.42. Equitable Holdings, Inc. has a twelve month low of $36.79 and a twelve month high of $56.61. The firm has a fifty day simple moving average of $43.71 and a 200 day simple moving average of $47.02.

Equitable announced that its board has approved a share repurchase program on Wednesday, February 11th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the company to purchase up to 7.7% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s management believes its stock is undervalued.

Equitable Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 11th. Stockholders of record on Wednesday, March 4th were given a $0.27 dividend. The ex-dividend date of this dividend was Wednesday, March 4th. This represents a $1.08 annualized dividend and a dividend yield of 2.8%. Equitable’s dividend payout ratio (DPR) is -22.41%.

Analyst Upgrades and Downgrades

EQH has been the subject of several recent research reports. JPMorgan Chase & Co. decreased their price target on shares of Equitable from $60.00 to $58.00 and set an “overweight” rating for the company in a research report on Thursday, February 5th. Zacks Research lowered shares of Equitable from a “hold” rating to a “strong sell” rating in a report on Thursday, January 22nd. BMO Capital Markets reissued an “outperform” rating on shares of Equitable in a research note on Wednesday, December 17th. Morgan Stanley lowered their target price on Equitable from $59.00 to $54.00 and set an “overweight” rating for the company in a research report on Tuesday, March 3rd. Finally, Barclays cut their target price on Equitable from $58.00 to $57.00 and set an “overweight” rating on the stock in a report on Wednesday, February 4th. Two analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have given a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $60.64.

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.