Public Employees Retirement System of Ohio Makes New Investment in Equitable Holdings, Inc. $EQH

Public Employees Retirement System of Ohio bought a new stake in shares of Equitable Holdings, Inc. (NYSE:EQH) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 79,746 shares of the company’s stock, valued at approximately $3,499,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Capstone Investment Advisors LLC bought a new stake in Equitable in the second quarter valued at $3,072,000. Redwood Investment Management LLC purchased a new stake in shares of Equitable in the 2nd quarter worth about $2,193,000. Corient Private Wealth LP bought a new stake in shares of Equitable during the 2nd quarter valued at about $870,000. Philadelphia Financial Management of San Francisco LLC purchased a new position in shares of Equitable during the second quarter valued at about $9,918,196. Finally, Bank of America Corp DE bought a new position in Equitable in the second quarter worth about $41,369,000. Hedge funds and other institutional investors own 92.70% of the company’s stock.

Wall Street Analysts Forecast Growth

EQH has been the topic of several research reports. Wells Fargo & Company lifted their price objective on Equitable from $60.00 to $64.00 and gave the company an “overweight” rating in a research report on Wednesday, August 19th. Zacks Research raised Equitable from a “strong sell” rating to a “hold” rating in a research report on Monday, June 29th. Keefe, Bruyette & Woods boosted their price objective on shares of Equitable from $62.00 to $67.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 11th. Wolfe Research downgraded Equitable from an “outperform” rating to a “peer perform” rating in a research note on Thursday, July 9th. Finally, Evercore reiterated an “outperform” rating and set a $66.00 price objective on shares of Equitable in a research note on Thursday, August 20th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Equitable presently has an average rating of “Moderate Buy” and a consensus price target of $61.75.

Equitable Trading Down 1.3%

Shares of NYSE EQH opened at $52.85 on Friday. The firm’s 50 day moving average price is $49.03 and its 200-day moving average price is $43.82. Equitable Holdings, Inc. has a 52-week low of $35.19 and a 52-week high of $55.15. The company has a debt-to-equity ratio of 8.75, a quick ratio of 0.15 and a current ratio of 0.15. The company has a market cap of $14.43 billion, a PE ratio of -15.97, a P/E/G ratio of 0.52 and a beta of 1.10.

Equitable (NYSE:EQH) last announced its quarterly earnings data on Tuesday, August 4th. The company reported $1.70 earnings per share for the quarter, topping analysts’ consensus estimates of $1.65 by $0.05. Equitable had a negative net margin of 8.72% and a positive return on equity of 511.35%. The company had revenue of $1.66 billion during the quarter, compared to analyst estimates of $3.84 billion. During the same period in the previous year, the business earned $1.10 EPS. The firm’s revenue for the quarter was down 29.8% on a year-over-year basis. On average, equities research analysts expect that Equitable Holdings, Inc. will post 7.18 EPS for the current fiscal year.

Equitable Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 10th. Investors of record on Monday, August 3rd were issued a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 2.3%. The ex-dividend date was Monday, August 3rd. Equitable’s dividend payout ratio (DPR) is presently -36.25%.

Insider Buying and Selling

In other Equitable news, Director Arlene Isaacs-Lowe sold 1,000 shares of the business’s stock in a transaction dated Friday, September 4th. The stock was sold at an average price of $52.83, for a total value of $52,830.00. Following the completion of the transaction, the director owned 19,763 shares of the company’s stock, valued at approximately $1,044,079.29. The trade was a 4.82% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Charles Stonehill sold 7,500 shares of the company’s stock in a transaction dated Thursday, August 6th. The shares were sold at an average price of $51.54, for a total transaction of $386,550.00. Following the transaction, the director owned 34,357 shares in the company, valued at $1,770,759.78. This represents a 17.92% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 113,071 shares of company stock worth $5,309,147 in the last three months. 1.00% of the stock is currently owned by company insiders.

Equitable Profile

Equitable Holdings, Inc (NYSE: EQH) is a leading provider of life insurance, annuities and retirement plan services in the United States. Through its insurance subsidiary, AXA Equitable Life Insurance Company, the firm offers a broad range of permanent and term life insurance products designed to help individuals and families manage risk and build wealth. In addition, Equitable provides fixed, variable and indexed annuity solutions to support income planning in retirement, as well as a suite of group retirement and pension plan services for employers and plan sponsors.

The company also maintains an asset management arm that delivers investment strategies across equities, fixed income and alternative asset classes for both retail and institutional clients.