Tocqueville Asset Management L.P. Decreases Holdings in Equitable Holdings, Inc. $EQH

Tocqueville Asset Management L.P. decreased its position in Equitable Holdings, Inc. (NYSE:EQH) by 30.0% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 372,748 shares of the company’s stock after selling 159,388 shares during the quarter. Tocqueville Asset Management L.P.’s holdings in Equitable were worth $18,928,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Johnson Financial Group Inc. bought a new stake in shares of Equitable in the 3rd quarter worth approximately $26,000. Root Financial Partners LLC bought a new position in shares of Equitable during the 3rd quarter valued at $36,000. Hilltop National Bank bought a new position in shares of Equitable during the 3rd quarter valued at $37,000. Geneos Wealth Management Inc. raised its position in Equitable by 92.6% in the 1st quarter. Geneos Wealth Management Inc. now owns 882 shares of the company’s stock worth $46,000 after purchasing an additional 424 shares during the period. Finally, MAI Capital Management lifted its stake in Equitable by 64.0% in the second quarter. MAI Capital Management now owns 938 shares of the company’s stock worth $53,000 after purchasing an additional 366 shares during the last quarter. 92.70% of the stock is currently owned by institutional investors.

Equitable Trading Up 0.6%

Shares of EQH stock traded up $0.20 during mid-day trading on Friday, reaching $37.26. The stock had a trading volume of 345,587 shares, compared to its average volume of 3,166,855. The stock’s 50-day moving average price is $44.36 and its two-hundred day moving average price is $47.44. Equitable Holdings, Inc. has a 52-week low of $36.79 and a 52-week high of $56.61. The firm has a market capitalization of $10.45 billion, a PE ratio of -7.73, a price-to-earnings-growth ratio of 0.34 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 Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 11th. Investors of record on Wednesday, March 4th were paid a $0.27 dividend. The ex-dividend date of this dividend was Wednesday, March 4th. This represents a $1.08 annualized dividend and a dividend yield of 2.9%. Equitable’s dividend payout ratio (DPR) 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 buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the company to purchase up to 7.7% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s management believes its shares are undervalued.

Analyst Ratings Changes

Several research firms have issued reports on EQH. Wall Street Zen upgraded shares of Equitable from a “sell” rating to a “hold” rating in a research report on Saturday, February 28th. Zacks Research downgraded Equitable from a “hold” rating to a “strong sell” rating in a report on Thursday, January 22nd. Barclays dropped their target price on Equitable from $58.00 to $57.00 and set an “overweight” rating for the company in a report on Wednesday, February 4th. UBS Group reduced their price target on Equitable from $67.00 to $66.00 and set a “buy” rating on the stock in a research report on Thursday, February 5th. Finally, BMO Capital Markets reaffirmed an “outperform” rating on shares of Equitable in a research note on Wednesday, December 17th. Two research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $60.64.

Insider Activity at Equitable

In other news, insider Nick Lane sold 30,000 shares of Equitable stock in a transaction that occurred on 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 sale, the insider directly owned 99,958 shares in the company, valued at approximately $4,762,998.70. This trade represents a 23.08% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Mark Pearson sold 39,700 shares of the business’s stock in a transaction that occurred on Tuesday, January 20th. The shares were sold at an average price of $46.20, for a total value of $1,834,140.00. Following the transaction, the chief executive officer directly owned 652,945 shares in the company, valued at $30,166,059. This trade represents a 5.73% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 152,980 shares of company stock worth $7,252,416 in the last 90 days. Company insiders own 1.10% of the company’s stock.

Equitable 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.