Munich Reinsurance Co Stock Corp in Munich Decreases Stock Holdings in Equitable Holdings, Inc. $EQH
by Jessica Moore · The Cerbat GemMunich Reinsurance Co Stock Corp in Munich reduced its position in shares of Equitable Holdings, Inc. (NYSE:EQH – Free Report) by 68.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 39,595 shares of the company’s stock after selling 87,050 shares during the period. Munich Reinsurance Co Stock Corp in Munich’s holdings in Equitable were worth $1,904,000 as of its most recent SEC filing.
A number of other institutional investors have also made changes to their positions in the company. Capital International Investors lifted its position in shares of Equitable by 49.5% during the third quarter. Capital International Investors now owns 11,012,837 shares of the company’s stock worth $559,232,000 after purchasing an additional 3,645,301 shares in the last quarter. Thornburg Investment Management Inc. lifted its position in shares of Equitable by 0.3% during the third quarter. Thornburg Investment Management Inc. now owns 4,867,643 shares of the company’s stock worth $247,179,000 after purchasing an additional 12,370 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its position in shares of Equitable by 4.2% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 4,822,908 shares of the company’s stock worth $229,812,000 after purchasing an additional 193,640 shares in the last quarter. Pzena Investment Management LLC lifted its position in shares of Equitable by 1.3% during the third quarter. Pzena Investment Management LLC now owns 4,297,008 shares of the company’s stock worth $218,202,000 after purchasing an additional 55,798 shares in the last quarter. Finally, Boston Partners lifted its position in shares of Equitable by 2.0% during the third quarter. Boston Partners now owns 3,637,414 shares of the company’s stock worth $184,704,000 after purchasing an additional 72,267 shares in the last quarter. 92.70% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
A number of research firms have recently commented on EQH. Wall Street Zen raised shares of Equitable from a “sell” rating to a “hold” rating in a research report on Saturday, February 28th. Zacks Research cut shares of Equitable from a “hold” rating to a “strong sell” rating in a research report on Thursday, January 22nd. UBS Group reduced their target price on shares of Equitable from $66.00 to $58.00 and set a “buy” rating on the stock in a research report on Thursday, April 9th. Weiss Ratings cut shares of Equitable from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday, March 2nd. Finally, Barclays reduced their target price on shares of Equitable from $57.00 to $49.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 8th. Two analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $56.91.
Read Our Latest Stock Report on Equitable
Equitable Stock Down 1.0%
EQH stock opened at $41.17 on Friday. The company has a debt-to-equity ratio of 16.42, a current ratio of 0.13 and a quick ratio of 0.13. Equitable Holdings, Inc. has a 1-year low of $35.19 and a 1-year high of $56.61. The firm has a fifty day moving average price of $39.64 and a two-hundred day moving average price of $44.35. The firm has a market cap of $11.59 billion, a price-to-earnings ratio of -8.54, a PEG ratio of 0.39 and a beta of 1.11.
Equitable Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 11th. Shareholders of record on Wednesday, March 4th were paid a dividend of $0.27 per share. The ex-dividend date was Wednesday, March 4th. This represents a $1.08 annualized dividend and a yield of 2.6%. Equitable’s payout ratio is presently -22.41%.
Equitable declared that its Board of Directors has initiated a share buyback plan on Wednesday, February 11th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the company to reacquire up to 7.7% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s leadership believes its stock is undervalued.
Insider Buying and Selling at Equitable
In other Equitable news, COO Jeffrey J. Hurd sold 14,358 shares of the business’s stock in a transaction on Wednesday, April 15th. The shares were sold at an average price of $40.58, for a total transaction of $582,647.64. Following the completion of the sale, the chief operating officer owned 84,403 shares in the company, valued at $3,425,073.74. The trade was a 14.54% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Mark Pearson sold 39,700 shares of the company’s stock in a transaction dated Monday, April 20th. The stock was sold at an average price of $41.63, for a total transaction of $1,652,711.00. Following the transaction, the chief executive officer owned 789,183 shares of the company’s stock, valued at $32,853,688.29. This represents a 4.79% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 128,116 shares of company stock worth $5,205,010 over the last 90 days. Insiders own 1.10% of the company’s stock.
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.
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