Retirement Systems of Alabama lifted its position in Equitable Holdings, Inc. (NYSE:EQH – Free Report) by 26.6% in the 3rd quarter, HoldingsChannel reports. The firm owned 508,404 shares of the company’s stock after purchasing an additional 106,733 shares during the quarter. Retirement Systems of Alabama’s holdings in Equitable were worth $26,066,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds have also recently modified their holdings of the company. BlackRock Inc. purchased a new stake in Equitable in the second quarter valued at approximately $1,136,305,000. Canada Pension Plan Investment Board purchased a new position in Equitable during the 2nd quarter worth approximately $399,576,000. Wellington Management Group LLP lifted its stake in Equitable by 6.3% during the 2nd quarter. Wellington Management Group LLP now owns 8,784,986 shares of the company’s stock valued at $385,485,000 after acquiring an additional 523,638 shares during the period. Pzena Investment Management LLC lifted its stake in Equitable by 1.0% during the 3rd quarter. Pzena Investment Management LLC now owns 5,618,993 shares of the company’s stock valued at $288,086,000 after acquiring an additional 57,189 shares during the period. Finally, Thornburg Investment Management Inc. lifted its stake in Equitable by 3.0% during the 2nd quarter. Thornburg Investment Management Inc. now owns 5,142,337 shares of the company’s stock valued at $225,646,000 after acquiring an additional 148,132 shares during the period. Institutional investors and hedge funds own 92.70% of the company’s stock.
Analyst Ratings Changes
Several analysts have recently commented on EQH shares. Barclays upped their price objective on shares of Equitable from $52.00 to $61.00 and gave the company an “overweight” rating in a report on Wednesday, October 7th. Weiss Ratings raised shares of Equitable from a “sell (d+)” rating to a “hold (c-)” rating in a report on Thursday, October 8th. Wells Fargo & Company raised their target price on shares of Equitable from $64.00 to $65.00 and gave the stock an “overweight” rating in a report on Monday, October 12th. Raymond James Financial restated a “strong-buy” rating and set a $65.00 target price on shares of Equitable in a research report on Friday, October 9th. Finally, Truist Financial boosted their price objective on Equitable from $60.00 to $65.00 and gave the company a “buy” rating in a report on Wednesday, November 4th. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $63.33.
Check Out Our Latest Stock Report on EQH
Equitable Price Performance
NYSE:EQH opened at $55.59 on Wednesday. The company has a debt-to-equity ratio of 8.75, a current ratio of 0.15 and a quick ratio of 0.15. The firm has a market cap of $14.82 billion, a price-to-earnings ratio of 10.67, a price-to-earnings-growth ratio of 0.54 and a beta of 1.06. The company has a 50 day moving average price of $53.39 and a 200-day moving average price of $46.19. Equitable Holdings, Inc. has a 1-year low of $35.19 and a 1-year high of $56.83.
Equitable (NYSE:EQH – Get Free Report) last posted its earnings results on Monday, November 2nd. The company reported $2.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.86 by $0.27. Equitable had a net margin of 11.53% and a negative return on equity of 3,089.96%. The firm had revenue of $3.88 billion during the quarter, compared to analysts’ expectations of $3.75 billion. During the same period in the previous year, the business posted $1.48 EPS. The business’s revenue was up 167.7% compared to the same quarter last year. Equities research analysts forecast that Equitable Holdings, Inc. will post 7.20 EPS for the current year.
Equitable Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 30th. Shareholders of record on Monday, November 23rd will be issued a $0.30 dividend. The ex-dividend date of this dividend is Monday, November 23rd. This represents a $1.20 dividend on an annualized basis and a yield of 2.2%. Equitable’s payout ratio is presently 23.03%.
Insider Activity
In other Equitable news, insider Nick Lane sold 14,923 shares of the company’s stock in a transaction dated Friday, September 4th. The shares were sold at an average price of $53.24, for a total value of $794,500.52. Following the completion of the transaction, the insider owned 110,007 shares in the company, valued at approximately $5,856,772.68. This represents a 11.95% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Bertram Scott sold 2,780 shares of the company’s stock in a transaction dated Monday, September 21st. The stock was sold at an average price of $54.35, for a total transaction of $151,093.00. Following the completion of the transaction, the director owned 23,685 shares of the company’s stock, valued at approximately $1,287,279.75. This trade represents a 10.50% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 20,703 shares of company stock worth $1,106,964 over the last three months. Corporate insiders own 1.00% of the company’s stock.
Equitable Company Profile
Equitable Holdings, Inc. is a financial services company focused on retirement, protection and wealth management. Through its Equitable business, it offers products and services including life insurance, annuities, employee benefits and retirement planning solutions to individuals, employers and institutions. The company also has a majority ownership interest in AllianceBernstein, an investment management and research firm that serves institutional and individual clients. AllianceBernstein operates internationally, while Equitable’s insurance and retirement businesses primarily serve customers in the United States.
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