Retirement Systems of Alabama Makes New $13.27 Million Investment in Equitable Holdings, Inc. (NYSE:EQH)

Retirement Systems of Alabama acquired a new position in shares of Equitable Holdings, Inc. (NYSE:EQH) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 398,501 shares of the company’s stock, valued at approximately $13,270,000.

A number of other institutional investors have also recently bought and sold shares of the business. Teacher Retirement System of Texas boosted its position in Equitable by 1.5% during the 3rd quarter. Teacher Retirement System of Texas now owns 27,566 shares of the company’s stock worth $783,000 after acquiring an additional 418 shares during the period. CWM LLC boosted its position in Equitable by 23.6% during the 3rd quarter. CWM LLC now owns 2,647 shares of the company’s stock worth $75,000 after acquiring an additional 506 shares during the period. Lindbrook Capital LLC boosted its position in Equitable by 143.1% during the 4th quarter. Lindbrook Capital LLC now owns 1,004 shares of the company’s stock worth $33,000 after acquiring an additional 591 shares during the period. Truist Financial Corp boosted its position in Equitable by 9.5% during the 4th quarter. Truist Financial Corp now owns 7,888 shares of the company’s stock worth $263,000 after acquiring an additional 684 shares during the period. Finally, Fjarde AP Fonden Fourth Swedish National Pension Fund lifted its holdings in shares of Equitable by 0.8% during the 3rd quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 85,097 shares of the company’s stock valued at $2,416,000 after buying an additional 700 shares during the last quarter. 92.70% of the stock is currently owned by institutional investors and hedge funds.

Equitable Stock Up 4.7 %

Shares of NYSE EQH opened at $38.63 on Thursday. The business’s 50 day moving average is $36.02 and its two-hundred day moving average is $32.82. The company has a market cap of $12.66 billion, a P/E ratio of 11.43 and a beta of 1.42. Equitable Holdings, Inc. has a 12 month low of $21.89 and a 12 month high of $39.08.

Equitable (NYSE:EQH) last issued its quarterly earnings results on Tuesday, April 30th. The company reported $1.43 EPS for the quarter, topping the consensus estimate of $1.31 by $0.12. The business had revenue of $2.23 billion during the quarter, compared to the consensus estimate of $3.59 billion. The business’s quarterly revenue was down 5.4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.96 earnings per share. Sell-side analysts expect that Equitable Holdings, Inc. will post 6.01 earnings per share for the current fiscal year.

Equitable Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 4th. Stockholders of record on Monday, February 26th were issued a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 2.28%. The ex-dividend date of this dividend was Friday, February 23rd. Equitable’s payout ratio is presently 26.04%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on EQH shares. Wells Fargo & Company lifted their price target on Equitable from $43.00 to $46.00 and gave the company an “overweight” rating in a report on Thursday, April 11th. Jefferies Financial Group lifted their price target on Equitable from $42.00 to $45.00 and gave the company a “buy” rating in a report on Friday, March 22nd. Evercore ISI lifted their price target on Equitable from $42.00 to $46.00 and gave the company an “outperform” rating in a report on Thursday, April 11th. Keefe, Bruyette & Woods lifted their price target on Equitable from $39.00 to $41.00 and gave the company a “market perform” rating in a report on Wednesday, April 10th. Finally, JPMorgan Chase & Co. lowered Equitable from an “overweight” rating to a “neutral” rating and lifted their price target for the company from $35.00 to $36.00 in a report on Wednesday, January 3rd. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $39.67.

Insider Transactions at Equitable

In other news, Director Charles G.T. Stonehill sold 5,000 shares of Equitable stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $34.02, for a total transaction of $170,100.00. Following the sale, the director now owns 29,758 shares of the company’s stock, valued at approximately $1,012,367.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Charles G.T. Stonehill sold 5,000 shares of Equitable stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $34.02, for a total transaction of $170,100.00. Following the sale, the director now owns 29,758 shares of the company’s stock, valued at approximately $1,012,367.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Bertram L. Scott sold 7,000 shares of the business’s stock in a transaction on Monday, March 18th. The shares were sold at an average price of $35.29, for a total value of $247,030.00. Following the completion of the sale, the director now directly owns 20,902 shares in the company, valued at approximately $737,631.58. The disclosure for this sale can be found here. In the last quarter, insiders have sold 181,907 shares of company stock valued at $6,395,849. 1.10% of the stock is owned by corporate insiders.

Equitable Company 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.