Teachers Retirement System of The State of Kentucky Grows Stock Position in Equitable Holdings, Inc. (NYSE:EQH)

Teachers Retirement System of The State of Kentucky increased its position in shares of Equitable Holdings, Inc. (NYSE:EQH) by 23.1% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 106,900 shares of the company’s stock after purchasing an additional 20,067 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in Equitable were worth $4,064,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. New Covenant Trust Company N.A. acquired a new position in Equitable in the 1st quarter valued at $28,000. Lindbrook Capital LLC raised its stake in Equitable by 143.1% in the 4th quarter. Lindbrook Capital LLC now owns 1,004 shares of the company’s stock valued at $33,000 after purchasing an additional 591 shares during the last quarter. Blue Trust Inc. raised its stake in Equitable by 126.2% in the 4th quarter. Blue Trust Inc. now owns 1,262 shares of the company’s stock valued at $42,000 after purchasing an additional 704 shares during the last quarter. LRI Investments LLC acquired a new position in Equitable in the 1st quarter valued at $45,000. Finally, GAMMA Investing LLC acquired a new position in Equitable in the 4th quarter valued at $50,000. 92.70% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

EQH has been the subject of a number of recent research reports. Keefe, Bruyette & Woods raised their target price on Equitable from $43.00 to $44.00 and gave the stock a “market perform” rating in a research note on Monday, July 8th. Citigroup raised their price objective on Equitable from $41.00 to $53.00 and gave the stock a “buy” rating in a research report on Tuesday, July 23rd. JPMorgan Chase & Co. upped their target price on shares of Equitable from $36.00 to $45.00 and gave the company a “neutral” rating in a research report on Tuesday, July 2nd. Truist Financial lifted their price target on shares of Equitable from $44.00 to $52.00 and gave the company a “buy” rating in a research report on Thursday. Finally, UBS Group downgraded shares of Equitable from a “buy” rating to a “neutral” rating and boosted their price target for the company from $40.00 to $43.00 in a research note on Tuesday, June 18th. Four 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 a consensus price target of $44.18.

Insider Transactions at Equitable

In related news, COO Jeffrey J. Hurd sold 9,969 shares of the business’s stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $43.09, for a total transaction of $429,564.21. Following the completion of the sale, the chief operating officer now owns 111,552 shares in the company, valued at $4,806,775.68. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 1.10% of the company’s stock.

Equitable Trading Down 6.7 %

Equitable stock traded down $2.82 during midday trading on Friday, reaching $39.18. 2,806,051 shares of the stock traded hands, compared to its average volume of 2,424,582. Equitable Holdings, Inc. has a 12-month low of $24.65 and a 12-month high of $44.50. The company has a 50-day simple moving average of $41.26 and a two-hundred day simple moving average of $37.83. The firm has a market cap of $12.74 billion, a PE ratio of 12.13 and a beta of 1.43.

Equitable (NYSE:EQH) last released its earnings results on Tuesday, July 30th. The company reported $1.43 earnings per share for the quarter, topping analysts’ consensus estimates of $1.40 by $0.03. The firm had revenue of $3.51 billion for the quarter, compared to analysts’ expectations of $3.71 billion. The firm’s quarterly revenue was up 47.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.17 earnings per share. Equities research analysts anticipate that Equitable Holdings, Inc. will post 6.05 earnings per share for the current year.

Equitable Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, August 13th. Shareholders of record on Tuesday, August 6th will be issued a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 2.45%. The ex-dividend date of this dividend is Tuesday, August 6th. Equitable’s dividend payout ratio (DPR) is 29.72%.

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.