American International Group Inc. Sells 14,640 Shares of Equitable Holdings, Inc. (NYSE:EQH)

American International Group Inc. cut its holdings in shares of Equitable Holdings, Inc. (NYSE:EQH) by 3.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 418,380 shares of the company’s stock after selling 14,640 shares during the period. American International Group Inc.’s holdings in Equitable were worth $15,903,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Lindbrook Capital LLC increased its holdings in Equitable by 143.1% during the 4th quarter. Lindbrook Capital LLC now owns 1,004 shares of the company’s stock worth $33,000 after purchasing an additional 591 shares in the last quarter. Blue Trust Inc. lifted its holdings in shares of Equitable by 126.2% in the fourth quarter. Blue Trust Inc. now owns 1,262 shares of the company’s stock valued at $42,000 after purchasing an additional 704 shares in the last quarter. GAMMA Investing LLC purchased a new position in shares of Equitable during the fourth quarter valued at approximately $50,000. Harvest Fund Management Co. Ltd bought a new stake in Equitable during the fourth quarter worth $64,000. Finally, Rise Advisors LLC raised its position in Equitable by 1,421.4% in the 1st quarter. Rise Advisors LLC now owns 1,704 shares of the company’s stock valued at $65,000 after buying an additional 1,592 shares during the last quarter. Institutional investors and hedge funds own 92.70% of the company’s stock.

Insider Transactions at Equitable

In related news, COO Jeffrey J. Hurd sold 9,969 shares of the business’s stock in a transaction on Monday, July 15th. The stock was sold at an average price of $43.09, for a total transaction of $429,564.21. Following the sale, the chief operating officer now directly owns 111,552 shares in the company, valued at approximately $4,806,775.68. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Equitable news, insider Seth P. Bernstein sold 152,473 shares of the stock in a transaction that occurred on Thursday, May 2nd. The shares were sold at an average price of $38.06, for a total value of $5,803,122.38. Following the sale, the insider now directly owns 88,660 shares in the company, valued at approximately $3,374,399.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Jeffrey J. Hurd sold 9,969 shares of the business’s stock in a transaction on Monday, July 15th. The shares were sold at an average price of $43.09, for a total transaction of $429,564.21. Following the transaction, the chief operating officer now owns 111,552 shares of the company’s stock, valued at $4,806,775.68. The disclosure for this sale can be found here. Insiders sold 172,411 shares of company stock valued at $6,627,658 over the last three months. Company insiders own 1.10% of the company’s stock.

Equitable Stock Up 2.3 %

EQH traded up $0.94 during trading hours on Thursday, hitting $42.62. The stock had a trading volume of 662,526 shares, compared to its average volume of 2,643,707. Equitable Holdings, Inc. has a 1 year low of $24.65 and a 1 year high of $43.53. The company’s fifty day simple moving average is $41.02 and its 200 day simple moving average is $37.40. The stock has a market cap of $13.86 billion, a PE ratio of 12.90 and a beta of 1.43.

Equitable (NYSE:EQH) last posted its earnings results on Tuesday, April 30th. The company reported $1.43 earnings per share for the quarter, topping the consensus estimate of $1.31 by $0.12. The business had revenue of $2.23 billion during the quarter, compared to analysts’ expectations of $3.59 billion. Equitable’s revenue for the quarter was down 5.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.96 EPS. As a group, equities analysts expect that Equitable Holdings, Inc. will post 6.07 EPS for the current year.

Equitable Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 10th. Shareholders of record on Monday, June 3rd were given a dividend of $0.24 per share. The ex-dividend date was Monday, June 3rd. This represents a $0.96 annualized dividend and a dividend yield of 2.25%. This is an increase from Equitable’s previous quarterly dividend of $0.22. Equitable’s dividend payout ratio is currently 29.72%.

Wall Street Analysts Forecast Growth

EQH has been the topic of a number of analyst reports. Citigroup lifted their price objective on shares of Equitable from $41.00 to $53.00 and gave the stock a “buy” rating in a report on Tuesday. Jefferies Financial Group increased their price objective on shares of Equitable from $46.00 to $51.00 and gave the company a “buy” rating in a research note on Friday, June 28th. Morgan Stanley boosted their target price on Equitable from $44.00 to $46.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 10th. Wells Fargo & Company decreased their price target on Equitable from $46.00 to $44.00 and set an “overweight” rating for the company in a research report on Friday, May 10th. Finally, Evercore ISI boosted their price objective on Equitable from $42.00 to $46.00 and gave the stock an “outperform” rating in a research report on Thursday, April 11th. Four investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $43.45.

Equitable Profile

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.