New York State Teachers Retirement System Has $4.23 Million Position in Equitable Holdings, Inc. $EQH

New York State Teachers Retirement System cut its stake in shares of Equitable Holdings, Inc. (NYSE:EQH) by 13.9% in the first quarter, Holdings Channel reports. The fund owned 113,992 shares of the company’s stock after selling 18,333 shares during the period. New York State Teachers Retirement System’s holdings in Equitable were worth $4,230,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in EQH. Johnson Financial Group Inc. bought a new stake in shares of Equitable in the 3rd quarter worth about $26,000. Root Financial Partners LLC lifted its holdings in Equitable by 64.1% during the 1st quarter. Root Financial Partners LLC now owns 888 shares of the company’s stock valued at $33,000 after purchasing an additional 347 shares during the last quarter. Covestor Ltd lifted its holdings in Equitable by 124.7% during the 4th quarter. Covestor Ltd now owns 728 shares of the company’s stock valued at $35,000 after purchasing an additional 404 shares during the last quarter. Caitong International Asset Management Co. Ltd acquired a new position in Equitable in the third quarter valued at about $38,000. Finally, Geneos Wealth Management Inc. grew its stake in Equitable by 92.6% during the first quarter. Geneos Wealth Management Inc. now owns 882 shares of the company’s stock worth $46,000 after buying an additional 424 shares during the last quarter. Institutional investors and hedge funds own 92.70% of the company’s stock.

Equitable Trading Down 2.8%

Shares of NYSE EQH opened at $45.67 on Thursday. Equitable Holdings, Inc. has a 1-year low of $35.19 and a 1-year high of $55.28. The company has a 50-day moving average of $43.08 and a two-hundred day moving average of $42.94. The company has a market cap of $12.47 billion, a PE ratio of -16.08, a P/E/G ratio of 0.51 and a beta of 1.10. The company has a current ratio of 0.11, a quick ratio of 0.11 and a debt-to-equity ratio of 8.75.

Equitable (NYSE:EQH) last released its quarterly earnings results on Monday, May 4th. The company reported $1.62 EPS for the quarter, beating the consensus estimate of $1.60 by $0.02. The business had revenue of $4.23 billion for the quarter, compared to analysts’ expectations of $3.95 billion. Equitable had a negative net margin of 7.26% and a positive return on equity of 232.29%. Equitable’s revenue was down 7.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.35 earnings per share. As a group, equities analysts expect that Equitable Holdings, Inc. will post 7.07 earnings per share for the current fiscal year.

Equitable Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 8th. Stockholders of record on Monday, June 1st were paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 2.6%. This is a boost from Equitable’s previous quarterly dividend of $0.27. The ex-dividend date of this dividend was Monday, June 1st. Equitable’s payout ratio is currently -42.25%.

Wall Street Analysts Forecast Growth

EQH has been the subject of several recent analyst reports. UBS Group raised their price objective on shares of Equitable from $63.00 to $68.00 and gave the stock a “buy” rating in a report on Wednesday. Zacks Research upgraded Equitable from a “strong sell” rating to a “hold” rating in a research report on Monday, June 29th. Raymond James Financial set a $58.00 price target on Equitable and gave the company a “strong-buy” rating in a report on Thursday, April 16th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Equitable in a research report on Friday, May 29th. Finally, JPMorgan Chase & Co. reduced their price objective on Equitable from $58.00 to $57.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 29th. Two research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $59.00.

Insiders Place Their Bets

In other Equitable news, Director Bertram L. Scott sold 2,470 shares of the business’s stock in a transaction dated Thursday, June 4th. The stock was sold at an average price of $41.08, for a total transaction of $101,467.60. Following the completion of the sale, the director directly owned 27,931 shares of the company’s stock, valued at approximately $1,147,405.48. The trade was a 8.12% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Nick Lane sold 10,000 shares of the company’s stock in a transaction dated Wednesday, April 15th. The shares were sold at an average price of $40.44, for a total transaction of $404,400.00. Following the transaction, the insider owned 124,218 shares in the company, valued at approximately $5,023,375.92. The trade was a 7.45% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 154,248 shares of company stock valued at $6,608,358 over the last 90 days. Corporate insiders own 1.10% of the company’s stock.

Equitable Company 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.