Teacher Retirement System of Texas Reduces Stock Holdings in Equitable Holdings, Inc. (NYSE:EQH)

Teacher Retirement System of Texas lowered its position in Equitable Holdings, Inc. (NYSE:EQH) by 41.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 16,006 shares of the company’s stock after selling 11,560 shares during the quarter. Teacher Retirement System of Texas’ holdings in Equitable were worth $533,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the company. Principal Financial Group Inc. boosted its stake in Equitable by 7.9% during the third quarter. Principal Financial Group Inc. now owns 103,127 shares of the company’s stock worth $2,928,000 after buying an additional 7,518 shares during the period. NBC Securities Inc. purchased a new position in Equitable during the third quarter worth about $290,000. Victory Capital Management Inc. lifted its holdings in Equitable by 28.7% in the 3rd quarter. Victory Capital Management Inc. now owns 217,356 shares of the company’s stock valued at $6,171,000 after purchasing an additional 48,467 shares in the last quarter. Fox Run Management L.L.C. purchased a new position in Equitable in the 3rd quarter valued at about $969,000. Finally, New York Life Investment Management LLC lifted its holdings in shares of Equitable by 86.6% during the 3rd quarter. New York Life Investment Management LLC now owns 40,481 shares of the company’s stock worth $1,149,000 after acquiring an additional 18,785 shares during the period. Hedge funds and other institutional investors own 92.70% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on EQH shares. Morgan Stanley increased their target price on shares of Equitable from $39.00 to $41.00 and gave the stock an “overweight” rating in a research report on Monday, April 15th. Keefe, Bruyette & Woods raised their price objective on Equitable from $41.00 to $43.00 and gave the stock a “market perform” rating in a research note on Tuesday, May 7th. Evercore ISI raised their price objective on Equitable from $42.00 to $46.00 and gave the stock an “outperform” rating in a research note on Thursday, April 11th. Truist Financial raised their target price on Equitable from $40.00 to $44.00 and gave the company a “buy” rating in a research note on Thursday, May 2nd. Finally, Jefferies Financial Group raised 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. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $40.10.

Equitable Trading Up 1.4 %

Shares of EQH opened at $40.99 on Monday. The business’s 50-day moving average price is $38.06 and its 200 day moving average price is $34.46. The stock has a market capitalization of $13.33 billion, a P/E ratio of 12.69 and a beta of 1.40. Equitable Holdings, Inc. has a 1-year low of $24.23 and a 1-year high of $41.26.

Equitable (NYSE:EQH) last issued its quarterly earnings results on Tuesday, April 30th. The company reported $1.43 earnings per share for the quarter, topping analysts’ consensus estimates of $1.31 by $0.12. The company had revenue of $2.23 billion during the quarter, compared to analysts’ expectations of $3.59 billion. The company’s revenue for the quarter was down 5.4% compared to the same quarter last year. During the same period in the prior year, the business posted $0.96 EPS. On average, research analysts predict that Equitable Holdings, Inc. will post 6.12 earnings per share for the current year.

Equitable Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Shareholders of record on Monday, June 3rd will be given a dividend of $0.24 per share. The ex-dividend date is Monday, June 3rd. This is a positive change from Equitable’s previous quarterly dividend of $0.22. This represents a $0.96 dividend on an annualized basis and a yield of 2.34%. Equitable’s dividend payout ratio (DPR) is presently 27.24%.

Insiders Place Their Bets

In other Equitable news, Director Bertram L. Scott sold 7,000 shares of the firm’s stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $35.29, for a total transaction 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Equitable news, Director Bertram L. Scott sold 7,000 shares of the firm’s stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $35.29, for a total transaction 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Seth P. Bernstein sold 152,473 shares of the firm’s stock in a transaction dated Thursday, May 2nd. The stock was sold at an average price of $38.06, for a total value of $5,803,122.38. Following the sale, the insider now owns 88,660 shares of the company’s stock, valued at $3,374,399.60. The disclosure for this sale can be found here. In the last ninety days, insiders sold 309,380 shares of company stock worth $11,348,471. 1.10% of the stock is currently owned by company 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.