The Manufacturers Life Insurance Company Sells 90,858 Shares of Equitable Holdings, Inc. (NYSE:EQH)

The Manufacturers Life Insurance Company lessened its holdings in shares of Equitable Holdings, Inc. (NYSE:EQH - Free Report) by 12.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 654,941 shares of the company's stock after selling 90,858 shares during the quarter. The Manufacturers Life Insurance Company owned 0.21% of Equitable worth $27,527,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in EQH. Dimensional Fund Advisors LP raised its position in shares of Equitable by 15.2% during the second quarter. Dimensional Fund Advisors LP now owns 4,083,650 shares of the company's stock worth $166,855,000 after purchasing an additional 539,904 shares during the period. Acadian Asset Management LLC raised its holdings in Equitable by 24,432.7% during the 2nd quarter. Acadian Asset Management LLC now owns 3,168,402 shares of the company's stock worth $129,444,000 after buying an additional 3,155,487 shares during the period. Zurich Insurance Group Ltd FI bought a new position in Equitable in the second quarter valued at approximately $110,176,000. Charles Schwab Investment Management Inc. boosted its holdings in shares of Equitable by 3.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,165,115 shares of the company's stock valued at $91,000,000 after buying an additional 68,900 shares during the period. Finally, Principal Financial Group Inc. increased its position in shares of Equitable by 57.8% during the second quarter. Principal Financial Group Inc. now owns 1,969,388 shares of the company's stock worth $80,470,000 after acquiring an additional 721,028 shares in the last quarter. 92.70% of the stock is currently owned by institutional investors.

Equitable Stock Up 0.3 %

Shares of Equitable stock traded up $0.15 on Friday, reaching $48.23. 889,876 shares of the company were exchanged, compared to its average volume of 2,499,617. The company has a 50-day moving average of $45.39 and a 200 day moving average of $42.41. The company has a market capitalization of $15.11 billion, a price-to-earnings ratio of -44.25 and a beta of 1.40. The company has a current ratio of 0.12, a quick ratio of 0.12 and a debt-to-equity ratio of 1.63. Equitable Holdings, Inc. has a one year low of $29.70 and a one year high of $50.51.

Equitable (NYSE:EQH - Get Free Report) last posted its quarterly earnings data on Monday, November 4th. The company reported $1.53 earnings per share for the quarter, meeting the consensus estimate of $1.53. Equitable had a negative net margin of 2.64% and a positive return on equity of 76.47%. The firm had revenue of $3.08 billion for the quarter, compared to analysts' expectations of $3.78 billion. During the same quarter last year, the company posted $1.15 EPS. The business's quarterly revenue was down 15.1% on a year-over-year basis. On average, equities research analysts forecast that Equitable Holdings, Inc. will post 6.05 earnings per share for the current year.

Equitable Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 3rd. Stockholders of record on Tuesday, November 26th will be issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.99%. The ex-dividend date of this dividend is Tuesday, November 26th. Equitable's payout ratio is currently -88.07%.

Insider Activity

In related news, CAO William James Iv Eckert sold 3,500 shares of Equitable stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $42.42, for a total value of $148,470.00. Following the transaction, the chief accounting officer now owns 19,321 shares in the company, valued at $819,596.82. This trade represents a 15.34 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Mark Pearson sold 30,000 shares of the business's stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $40.78, for a total value of $1,223,400.00. Following the completion of the sale, the chief executive officer now directly owns 668,555 shares of the company's stock, valued at approximately $27,263,672.90. This trade represents a 4.29 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 100,166 shares of company stock worth $4,443,605. 1.10% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research firms recently commented on EQH. Wells Fargo & Company boosted their price objective on shares of Equitable from $43.00 to $47.00 and gave the company an "overweight" rating in a research report on Thursday, October 10th. Barclays upped their price objective on Equitable from $59.00 to $60.00 and gave the stock an "overweight" rating in a research report on Tuesday, October 8th. Finally, Morgan Stanley dropped their target price on Equitable from $48.00 to $46.00 and set an "overweight" rating on the stock in a research report on Monday, August 19th. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $48.70.

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.