Bank of New York Mellon Corp Sells 478,612 Shares of Equitable Holdings, Inc. (NYSE:EQH)

Bank of New York Mellon Corp reduced its stake in shares of Equitable Holdings, Inc. (NYSE:EQH - Free Report) by 13.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,029,435 shares of the company's stock after selling 478,612 shares during the quarter. Bank of New York Mellon Corp owned 0.97% of Equitable worth $142,898,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of EQH. Versant Capital Management Inc grew its position in Equitable by 195.6% during the 4th quarter. Versant Capital Management Inc now owns 532 shares of the company's stock worth $25,000 after acquiring an additional 352 shares during the last quarter. Covestor Ltd increased its stake in shares of Equitable by 61.5% in the third quarter. Covestor Ltd now owns 646 shares of the company's stock worth $27,000 after buying an additional 246 shares during the period. MassMutual Private Wealth & Trust FSB raised its holdings in Equitable by 298.3% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 1,689 shares of the company's stock valued at $80,000 after buying an additional 1,265 shares during the last quarter. Principal Securities Inc. boosted its position in Equitable by 82.7% during the 4th quarter. Principal Securities Inc. now owns 1,805 shares of the company's stock valued at $85,000 after buying an additional 817 shares during the period. Finally, UMB Bank n.a. grew its holdings in Equitable by 26.1% in the 4th quarter. UMB Bank n.a. now owns 1,954 shares of the company's stock worth $92,000 after acquiring an additional 404 shares during the last quarter. Hedge funds and other institutional investors own 92.70% of the company's stock.

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Equitable Stock Down 4.2 %

Equitable stock traded down $2.31 during trading hours on Tuesday, hitting $51.99. The stock had a trading volume of 1,746,247 shares, compared to its average volume of 2,414,111. The stock has a market capitalization of $16.00 billion, a P/E ratio of 13.61 and a beta of 1.39. The company has a quick ratio of 0.12, a current ratio of 0.07 and a debt-to-equity ratio of 3.07. The stock's 50-day moving average price is $51.86 and its 200-day moving average price is $47.02. Equitable Holdings, Inc. has a 12-month low of $32.96 and a 12-month high of $56.27.

Equitable (NYSE:EQH - Get Free Report) last issued its earnings results on Wednesday, February 5th. The company reported $1.57 EPS for the quarter, missing the consensus estimate of $1.65 by ($0.08). Equitable had a net margin of 10.51% and a return on equity of 85.70%. Equities research analysts anticipate that Equitable Holdings, Inc. will post 7.33 EPS for the current fiscal year.

Equitable Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 12th. Shareholders of record on Wednesday, March 5th will be paid a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 1.85%. The ex-dividend date is Wednesday, March 5th. Equitable's dividend payout ratio is currently 25.13%.

Insider Activity

In other news, COO Jeffrey J. Hurd sold 6,666 shares of the stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $47.31, for a total value of $315,368.46. Following the transaction, the chief operating officer now owns 98,875 shares in the company, valued at $4,677,776.25. This represents a 6.32 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO William James Iv Eckert sold 1,700 shares of the firm's stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $46.68, for a total value of $79,356.00. Following the completion of the transaction, the chief accounting officer now directly owns 17,677 shares in the company, valued at approximately $825,162.36. This represents a 8.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 131,698 shares of company stock valued at $6,534,234 in the last 90 days. 1.10% of the stock is currently owned by insiders.

Analyst Ratings Changes

EQH has been the subject of several recent analyst reports. Keefe, Bruyette & Woods upped their price objective on shares of Equitable from $62.00 to $66.00 and gave the company an "outperform" rating in a research note on Friday. BMO Capital Markets lifted their price objective on Equitable from $69.00 to $72.00 and gave the stock an "outperform" rating in a research report on Tuesday, February 25th. Truist Financial upped their target price on Equitable from $52.00 to $60.00 and gave the company a "buy" rating in a report on Monday, February 10th. Deutsche Bank Aktiengesellschaft upgraded shares of Equitable from a "hold" rating to a "buy" rating and lifted their price target for the company from $47.00 to $58.00 in a report on Friday, January 10th. Finally, Barclays upped their price objective on shares of Equitable from $60.00 to $61.00 and gave the stock an "overweight" rating in a report on Monday, January 6th. Two analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $57.17.

Equitable Company 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.