Equitable Holdings, Inc. (NYSE:EQH) Shares Sold by State of Michigan Retirement System

State of Michigan Retirement System trimmed its holdings in shares of Equitable Holdings, Inc. (NYSE:EQH) by 6.2% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 79,286 shares of the company’s stock after selling 5,200 shares during the period. State of Michigan Retirement System’s holdings in Equitable were worth $3,240,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Capital Insight Partners LLC lifted its holdings in shares of Equitable by 2.6% during the 2nd quarter. Capital Insight Partners LLC now owns 17,612 shares of the company’s stock valued at $720,000 after acquiring an additional 440 shares in the last quarter. LRI Investments LLC boosted its position in shares of Equitable by 892.9% in the second quarter. LRI Investments LLC now owns 1,112 shares of the company’s stock worth $45,000 after buying an additional 1,000 shares during the period. &PARTNERS grew its stake in shares of Equitable by 0.7% in the second quarter. &PARTNERS now owns 34,328 shares of the company’s stock valued at $1,403,000 after buying an additional 254 shares in the last quarter. Hennessy Advisors Inc. purchased a new stake in shares of Equitable during the 2nd quarter valued at about $613,000. Finally, Fifth Third Wealth Advisors LLC acquired a new position in Equitable during the 2nd quarter worth approximately $391,000. 92.70% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, COO Jeffrey J. Hurd sold 9,969 shares of the company’s stock in a transaction that occurred on Friday, June 14th. The stock was sold at an average price of $39.62, for a total transaction of $394,971.78. Following the completion of the transaction, the chief operating officer now directly owns 121,521 shares of the company’s stock, valued at $4,814,662.02. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.10% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Wells Fargo & Company dropped their price objective on shares of Equitable from $45.00 to $43.00 and set an “overweight” rating on the stock in a research note on Monday, August 12th. Morgan Stanley cut their price objective on shares of Equitable from $48.00 to $46.00 and set an “overweight” rating on the stock in a report on Monday, August 19th. Jefferies Financial Group raised their target price on Equitable from $46.00 to $51.00 and gave the company a “buy” rating in a research note on Friday, June 28th. Truist Financial boosted their price target on Equitable from $44.00 to $52.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Finally, UBS Group lowered Equitable from a “buy” rating to a “neutral” rating and raised their price objective for the company from $40.00 to $43.00 in a research note on Tuesday, June 18th. Four equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $44.09.

Equitable Trading Up 0.2 %

Shares of EQH opened at $41.95 on Wednesday. Equitable Holdings, Inc. has a 52 week low of $24.65 and a 52 week high of $44.50. The firm has a market cap of $13.64 billion, a price-to-earnings ratio of 12.99 and a beta of 1.43. The stock has a 50 day moving average of $40.93 and a 200-day moving average of $38.69.

Equitable (NYSE:EQH) last announced its quarterly earnings data on Tuesday, July 30th. The company reported $1.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.40 by $0.03. The firm had revenue of $3.51 billion for the quarter, compared to the consensus estimate of $3.71 billion. During the same quarter last year, the business earned $1.17 earnings per share. The business’s revenue for the quarter was up 47.7% compared to the same quarter last year. On average, sell-side analysts predict that Equitable Holdings, Inc. will post 6.05 earnings per share for the current fiscal year.

Equitable Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, August 13th. Investors of record on Tuesday, August 6th were paid a dividend of $0.24 per share. The ex-dividend date was Tuesday, August 6th. This represents a $0.96 annualized dividend and a yield of 2.29%. 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.