Prana Capital Management LP Has $10.65 Million Stock Holdings in Equitable Holdings, Inc. $EQH

Prana Capital Management LP boosted its position in Equitable Holdings, Inc. (NYSE:EQH) by 80.7% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 209,769 shares of the company’s stock after buying an additional 93,660 shares during the period. Prana Capital Management LP’s holdings in Equitable were worth $10,652,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Truist Financial Corp lifted its stake in Equitable by 180.7% during the 3rd quarter. Truist Financial Corp now owns 32,820 shares of the company’s stock valued at $1,667,000 after acquiring an additional 21,127 shares in the last quarter. Mediolanum International Funds Ltd grew its stake in shares of Equitable by 26.5% in the 3rd quarter. Mediolanum International Funds Ltd now owns 241,175 shares of the company’s stock worth $12,616,000 after acquiring an additional 50,455 shares in the last quarter. Atlantic Union Bankshares Corp bought a new stake in shares of Equitable in the 3rd quarter worth $1,684,000. Algebris UK Ltd. raised its holdings in shares of Equitable by 28.6% in the third quarter. Algebris UK Ltd. now owns 712,460 shares of the company’s stock valued at $36,151,000 after purchasing an additional 158,488 shares during the last quarter. Finally, Illinois Municipal Retirement Fund lifted its position in shares of Equitable by 43.1% during the third quarter. Illinois Municipal Retirement Fund now owns 149,278 shares of the company’s stock valued at $7,580,000 after purchasing an additional 44,978 shares in the last quarter. 92.70% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, insider Nick Lane sold 30,000 shares of Equitable stock in a transaction dated Thursday, January 15th. The stock was sold at an average price of $47.65, for a total value of $1,429,500.00. Following the completion of the sale, the insider owned 99,958 shares of the company’s stock, valued at approximately $4,762,998.70. This trade represents a 23.08% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Mark Pearson sold 39,700 shares of the company’s stock in a transaction dated Tuesday, January 20th. The shares were sold at an average price of $46.20, for a total transaction of $1,834,140.00. Following the sale, the chief executive officer directly owned 652,945 shares in the company, valued at approximately $30,166,059. This trade represents a 5.73% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 146,190 shares of company stock valued at $6,924,120. 1.10% of the stock is owned by insiders.

Equitable Price Performance

Equitable stock opened at $38.54 on Wednesday. The business’s 50 day simple moving average is $43.71 and its 200 day simple moving average is $47.02. Equitable Holdings, Inc. has a 12 month low of $36.79 and a 12 month high of $56.61. The company has a market cap of $10.81 billion, a price-to-earnings ratio of -8.00, a PEG ratio of 0.33 and a beta of 1.12. The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 16.42.

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

Equitable Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 11th. Stockholders 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 dividend yield of 2.8%. Equitable’s dividend payout ratio is presently -22.41%.

Wall Street Analyst Weigh In

Several research firms recently weighed in on EQH. Raymond James Financial set a $60.00 price target on shares of Equitable in a report on Monday, January 5th. Wall Street Zen raised Equitable from a “sell” rating to a “hold” rating in a research report on Saturday, February 28th. JPMorgan Chase & Co. cut their price objective on Equitable from $60.00 to $58.00 and set an “overweight” rating on the stock in a research report on Thursday, February 5th. Barclays decreased their target price on Equitable from $58.00 to $57.00 and set an “overweight” rating for the company in a research report on Wednesday, February 4th. Finally, Weiss Ratings downgraded shares of Equitable from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday, March 2nd. Two research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, Equitable currently has an average rating of “Moderate Buy” and a consensus price target of $60.64.

Equitable Company Profile

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.