Hudson Bay Capital Management LP Increases Stock Holdings in Equitable Holdings, Inc. $EQH

Hudson Bay Capital Management LP boosted its holdings in Equitable Holdings, Inc. (NYSE:EQH) by 19.6% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 101,706 shares of the company’s stock after buying an additional 16,687 shares during the quarter. Hudson Bay Capital Management LP’s holdings in Equitable were worth $5,165,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the business. Johnson Financial Group Inc. purchased a new stake in Equitable in the 3rd quarter valued at about $26,000. Root Financial Partners LLC purchased a new position in shares of Equitable during the 3rd quarter worth about $36,000. Hilltop National Bank purchased a new position in shares of Equitable during the 3rd quarter worth about $37,000. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Equitable in the third quarter worth approximately $38,000. Finally, Geneos Wealth Management Inc. boosted its position in shares of Equitable by 92.6% in the first quarter. Geneos Wealth Management Inc. now owns 882 shares of the company’s stock worth $46,000 after acquiring an additional 424 shares during the last quarter. 92.70% of the stock is currently owned by hedge funds and other institutional investors.

Equitable Trading Up 0.2%

NYSE EQH opened at $37.31 on Friday. The firm has a market capitalization of $10.46 billion, a price-to-earnings ratio of -7.74, a PEG ratio of 0.33 and a beta of 1.12. The company has a debt-to-equity ratio of 16.42, a quick ratio of 0.13 and a current ratio of 0.13. Equitable Holdings, Inc. has a one year low of $36.58 and a one year high of $56.61. The company’s 50 day moving average price is $43.07 and its 200 day moving average price is $46.78.

Equitable announced that its board has initiated a share repurchase plan on Wednesday, February 11th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the company to buy up to 7.7% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board believes its shares are undervalued.

Equitable Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 11th. Stockholders of record on Wednesday, March 4th were paid a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date of this dividend was Wednesday, March 4th. Equitable’s dividend payout ratio (DPR) is currently -22.41%.

Insider Activity at Equitable

In related news, COO Jeffrey J. Hurd sold 6,790 shares of the stock in a transaction 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 completion of the sale, the chief operating officer directly owned 55,023 shares in the company, valued at approximately $2,621,845.95. This represents a 10.98% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Nick Lane sold 30,000 shares of the firm’s stock in a transaction dated Thursday, January 15th. The shares were sold at an average price of $47.65, for a total value of $1,429,500.00. Following the completion of the transaction, the insider directly owned 99,958 shares in the company, valued at $4,762,998.70. This trade represents a 23.08% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 76,490 shares of company stock worth $3,587,184. 1.10% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages recently commented on EQH. Morgan Stanley dropped their price target on shares of Equitable from $59.00 to $54.00 and set an “overweight” rating for the company in a research report on Tuesday, March 3rd. Mizuho set a $65.00 price target on shares of Equitable in a report on Wednesday, January 14th. The Goldman Sachs Group set a $60.00 price objective on shares of Equitable in a research note on Monday, January 5th. Weiss Ratings downgraded Equitable from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday, March 2nd. Finally, Wells Fargo & Company cut their target price on Equitable from $60.00 to $57.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 25th. Two research 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 stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target 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.