State of Alaska Department of Revenue Acquires 590 Shares of Equitable Holdings, Inc. (NYSE:EQH)

State of Alaska Department of Revenue grew its holdings in shares of Equitable Holdings, Inc. (NYSE:EQH) by 1.7% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 36,315 shares of the company’s stock after purchasing an additional 590 shares during the quarter. State of Alaska Department of Revenue’s holdings in Equitable were worth $1,891,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. QRG Capital Management Inc. boosted its position in Equitable by 0.3% during the first quarter. QRG Capital Management Inc. now owns 88,561 shares of the company’s stock worth $4,613,000 after purchasing an additional 260 shares during the period. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH boosted its position in shares of Equitable by 0.7% in the first quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 237,969 shares of the company’s stock valued at $12,396,000 after acquiring an additional 1,722 shares during the period. Ritholtz Wealth Management boosted its position in shares of Equitable by 6.7% in the first quarter. Ritholtz Wealth Management now owns 30,791 shares of the company’s stock valued at $1,604,000 after acquiring an additional 1,938 shares during the period. Hennessy Advisors Inc. boosted its position in shares of Equitable by 20.0% in the first quarter. Hennessy Advisors Inc. now owns 24,000 shares of the company’s stock valued at $1,250,000 after acquiring an additional 4,000 shares during the period. Finally, Wealth Enhancement Advisory Services LLC boosted its position in shares of Equitable by 26.2% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 34,841 shares of the company’s stock valued at $1,815,000 after acquiring an additional 7,240 shares during the period. Institutional investors own 92.70% of the company’s stock.

Equitable Stock Performance

NYSE:EQH opened at $53.88 on Tuesday. The stock has a market cap of $16.37 billion, a P/E ratio of 14.64 and a beta of 1.15. The firm’s fifty day simple moving average is $51.67 and its 200 day simple moving average is $51.03. Equitable Holdings, Inc. has a twelve month low of $36.46 and a twelve month high of $56.00. The company has a quick ratio of 0.10, a current ratio of 0.10 and a debt-to-equity ratio of 2.39.

Equitable (NYSE:EQH) last released its earnings results on Tuesday, April 29th. The company reported $1.35 earnings per share for the quarter, missing analysts’ consensus estimates of $1.49 by ($0.14). The business had revenue of $4.58 billion during the quarter, compared to analysts’ expectations of $4.05 billion. Equitable had a return on equity of 79.05% and a net margin of 8.50%. The firm’s quarterly revenue was up 105.2% compared to the same quarter last year. During the same period in the prior year, the company earned $1.43 earnings per share. As a group, research analysts predict that Equitable Holdings, Inc. will post 7.33 EPS for the current year.

Equitable Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 9th. Stockholders of record on Monday, June 2nd were given a $0.27 dividend. The ex-dividend date of this dividend was Monday, June 2nd. This is an increase from Equitable’s previous quarterly dividend of $0.24. This represents a $1.08 dividend on an annualized basis and a dividend yield of 2.00%. Equitable’s dividend payout ratio is currently 29.35%.

Analyst Ratings Changes

EQH has been the subject of a number of analyst reports. Wells Fargo & Company raised their price objective on shares of Equitable from $59.00 to $61.00 and gave the company an “overweight” rating in a research report on Thursday, May 1st. Keefe, Bruyette & Woods lifted their target price on shares of Equitable from $61.00 to $63.00 and gave the company an “outperform” rating in a research report on Wednesday, May 7th. UBS Group dropped their target price on shares of Equitable from $77.00 to $75.00 and set a “buy” rating for the company in a research report on Tuesday, May 27th. BMO Capital Markets lifted their target price on shares of Equitable from $69.00 to $72.00 and gave the company an “outperform” rating in a research report on Tuesday, February 25th. Finally, Evercore ISI dropped their target price on shares of Equitable from $69.00 to $64.00 and set an “outperform” rating for the company in a research report on Thursday, May 1st. One analyst has rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $61.67.

Insider Transactions at Equitable

In other Equitable news, CEO Mark Pearson sold 30,000 shares of the company’s stock in a transaction dated Tuesday, April 15th. The shares were sold at an average price of $47.56, for a total transaction of $1,426,800.00. Following the transaction, the chief executive officer now owns 743,206 shares in the company, valued at approximately $35,346,877.36. This represents a 3.88% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO William James Iv Eckert sold 4,000 shares of the company’s stock in a transaction dated Friday, June 20th. The shares were sold at an average price of $53.09, for a total transaction of $212,360.00. Following the transaction, the chief accounting officer now owns 19,827 shares in the company, valued at $1,052,615.43. This represents a 16.79% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 117,332 shares of company stock valued at $5,993,760 in the last three months. 1.10% of the stock is currently owned by company insiders.

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.