Equitable Holdings, Inc. (NYSE:EQH) Shares Sold by Retirement Systems of Alabama

Retirement Systems of Alabama reduced its stake in shares of Equitable Holdings, Inc. (NYSE:EQHFree Report) by 1.1% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 394,019 shares of the company’s stock after selling 4,482 shares during the period. Retirement Systems of Alabama owned approximately 0.12% of Equitable worth $14,977,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in EQH. Vanguard Group Inc. lifted its position in Equitable by 1.2% during the fourth quarter. Vanguard Group Inc. now owns 38,012,452 shares of the company’s stock valued at $1,265,815,000 after purchasing an additional 446,752 shares during the period. Norges Bank acquired a new position in Equitable during the fourth quarter valued at $606,630,000. Hsbc Holdings PLC increased its holdings in Equitable by 1,161.7% in the fourth quarter. Hsbc Holdings PLC now owns 7,849,706 shares of the company’s stock valued at $262,692,000 after buying an additional 7,227,568 shares in the last quarter. First Trust Advisors LP increased its holdings in Equitable by 0.3% in the fourth quarter. First Trust Advisors LP now owns 6,232,821 shares of the company’s stock valued at $207,553,000 after buying an additional 18,475 shares in the last quarter. Finally, Northern Trust Corp increased its holdings in Equitable by 24.6% in the fourth quarter. Northern Trust Corp now owns 3,958,417 shares of the company’s stock valued at $131,815,000 after buying an additional 781,426 shares in the last quarter. 92.70% of the stock is currently owned by institutional investors and hedge funds.

Equitable Stock Down 1.5 %

Shares of EQH opened at $40.43 on Friday. Equitable Holdings, Inc. has a fifty-two week low of $24.65 and a fifty-two week high of $41.95. The firm’s 50 day moving average price is $40.27 and its 200 day moving average price is $36.58. The company has a market cap of $13.15 billion, a P/E ratio of 12.52 and a beta of 1.43.

Equitable (NYSE:EQHGet Free Report) last announced its earnings results on Tuesday, April 30th. The company reported $1.43 earnings per share for the quarter, topping the consensus estimate of $1.31 by $0.12. The business had revenue of $2.23 billion for the quarter, compared to analysts’ expectations of $3.59 billion. During the same period in the previous year, the company earned $0.96 earnings per share. Equitable’s quarterly revenue was down 5.4% on a year-over-year basis. Research analysts forecast that Equitable Holdings, Inc. will post 6.12 earnings per share for the current year.

Equitable Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 10th. Investors of record on Monday, June 3rd were paid a dividend of $0.24 per share. This is an increase from Equitable’s previous quarterly dividend of $0.22. This represents a $0.96 annualized dividend and a yield of 2.37%. The ex-dividend date of this dividend was Monday, June 3rd. Equitable’s dividend payout ratio is presently 29.72%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on EQH shares. UBS Group cut shares of Equitable from a “buy” rating to a “neutral” rating and lifted their price objective for the company from $40.00 to $43.00 in a report on Tuesday, June 18th. Jefferies Financial Group lifted their price objective on shares of Equitable from $46.00 to $51.00 and gave the company a “buy” rating in a report on Friday, June 28th. Evercore ISI lifted their price objective on shares of Equitable from $42.00 to $46.00 and gave the company an “outperform” rating in a report on Thursday, April 11th. Keefe, Bruyette & Woods boosted their target price on shares of Equitable from $41.00 to $43.00 and gave the company a “market perform” rating in a report on Tuesday, May 7th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Equitable from $36.00 to $45.00 and gave the stock a “neutral” rating in a report on Tuesday. Four analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $41.90.

View Our Latest Analysis on Equitable

Insider Buying and Selling

In other Equitable news, CEO Mark Pearson sold 30,000 shares of the stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $36.24, for a total value of $1,087,200.00. Following the sale, the chief executive officer now directly owns 685,025 shares of the company’s stock, valued at approximately $24,825,306. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Equitable news, COO Jeffrey J. Hurd sold 9,969 shares of the stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $36.24, for a total value of $361,276.56. Following the sale, the chief operating officer now directly owns 141,062 shares of the company’s stock, valued at approximately $5,112,086.88. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Mark Pearson sold 30,000 shares of the stock in a transaction on Monday, April 15th. The shares were sold at an average price of $36.24, for a total transaction of $1,087,200.00. Following the completion of the transaction, the chief executive officer now directly owns 685,025 shares in the company, valued at $24,825,306. The disclosure for this sale can be found here. Insiders have sold a total of 202,411 shares of company stock valued at $7,646,571 in the last ninety days. Company insiders own 1.10% of the company’s stock.

Equitable Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Equitable (NYSE:EQH)

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