Louisiana State Employees Retirement System Reduces Holdings in Equitable Holdings, Inc. (NYSE:EQH)

Louisiana State Employees Retirement System cut its stake in shares of Equitable Holdings, Inc. (NYSE:EQH) by 4.2% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 86,500 shares of the company’s stock after selling 3,800 shares during the quarter. Louisiana State Employees Retirement System’s holdings in Equitable were worth $3,534,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of EQH. &PARTNERS lifted its holdings in Equitable by 0.7% in the 2nd quarter. &PARTNERS now owns 34,328 shares of the company’s stock worth $1,403,000 after buying an additional 254 shares during the period. iA Global Asset Management Inc. lifted its holdings in Equitable by 4.8% in the 1st quarter. iA Global Asset Management Inc. now owns 6,132 shares of the company’s stock worth $233,000 after buying an additional 280 shares during the period. Nomura Asset Management Co. Ltd. lifted its holdings in Equitable by 0.4% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 88,548 shares of the company’s stock worth $2,949,000 after buying an additional 329 shares during the period. TCW Group Inc. lifted its holdings in Equitable by 0.5% in the 4th quarter. TCW Group Inc. now owns 71,986 shares of the company’s stock worth $2,397,000 after buying an additional 371 shares during the period. Finally, GAMMA Investing LLC lifted its holdings in Equitable by 26.4% in the 1st quarter. GAMMA Investing LLC now owns 1,939 shares of the company’s stock worth $74,000 after buying an additional 405 shares during the period. 92.70% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

EQH has been the subject of several research analyst reports. JPMorgan Chase & Co. increased their price objective on Equitable from $36.00 to $45.00 and gave the stock a “neutral” rating in a report on Tuesday, July 2nd. Morgan Stanley dropped their price objective on Equitable from $48.00 to $46.00 and set an “overweight” rating for the company in a report on Monday. Citigroup increased their price objective on Equitable from $41.00 to $53.00 and gave the stock a “buy” rating in a report on Tuesday, July 23rd. Keefe, Bruyette & Woods increased their target price on Equitable from $43.00 to $44.00 and gave the stock a “market perform” rating in a research report on Monday, July 8th. Finally, Truist Financial increased their target price on Equitable from $44.00 to $52.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Four investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Equitable presently has an average rating of “Moderate Buy” and an average price target of $44.09.

Insiders Place Their Bets

In other Equitable news, COO Jeffrey J. Hurd sold 9,969 shares of Equitable stock in a transaction on Monday, July 15th. The stock was sold at an average price of $43.09, for a total value of $429,564.21. Following the completion of the sale, the chief operating officer now owns 111,552 shares of the company’s stock, valued at approximately $4,806,775.68. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 1.10% of the company’s stock.

Equitable Price Performance

EQH stock traded up $1.01 on Friday, reaching $41.53. 334,118 shares of the company traded hands, compared to its average volume of 2,585,159. Equitable Holdings, Inc. has a one year low of $24.65 and a one year high of $44.50. The company has a market cap of $13.51 billion, a P/E ratio of 12.55 and a beta of 1.43. The firm has a fifty day simple moving average of $40.82 and a 200-day simple moving average of $38.43.

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

Equitable Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 13th. Investors of record on Tuesday, August 6th were given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 2.31%. The ex-dividend date was Tuesday, August 6th. Equitable’s dividend payout ratio (DPR) is presently 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.