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

Teachers Retirement System of The State of Kentucky decreased its holdings in Equitable Holdings, Inc. (NYSE:EQH) by 2.5% in the 3rd quarter, Holdings Channel.com reports. The firm owned 104,220 shares of the company’s stock after selling 2,680 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in Equitable were worth $4,381,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of EQH. State Street Corp boosted its holdings in Equitable by 2.7% in the 3rd quarter. State Street Corp now owns 12,976,870 shares of the company’s stock worth $545,418,000 after buying an additional 338,205 shares during the period. Wellington Management Group LLP boosted its holdings in shares of Equitable by 3.0% in the third quarter. Wellington Management Group LLP now owns 5,513,571 shares of the company’s stock worth $231,735,000 after acquiring an additional 161,376 shares during the period. Dimensional Fund Advisors LP grew its position in shares of Equitable by 15.2% in the second quarter. Dimensional Fund Advisors LP now owns 4,083,650 shares of the company’s stock valued at $166,855,000 after purchasing an additional 539,904 shares in the last quarter. Acadian Asset Management LLC lifted its holdings in Equitable by 24,432.7% during the 2nd quarter. Acadian Asset Management LLC now owns 3,168,402 shares of the company’s stock worth $129,444,000 after purchasing an additional 3,155,487 shares in the last quarter. Finally, Zurich Insurance Group Ltd FI bought a new position in Equitable in the 2nd quarter worth about $110,176,000. Institutional investors own 92.70% of the company’s stock.

Equitable Stock Performance

NYSE EQH opened at $47.47 on Friday. The company has a market capitalization of $14.87 billion, a P/E ratio of -43.55 and a beta of 1.38. The company has a debt-to-equity ratio of 1.63, a quick ratio of 0.12 and a current ratio of 0.12. Equitable Holdings, Inc. has a 52-week low of $31.76 and a 52-week high of $50.51. The company has a fifty day moving average of $46.42 and a 200-day moving average of $42.88.

Equitable (NYSE:EQH) last issued its quarterly earnings results on Monday, November 4th. The company reported $1.53 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.53. The firm had revenue of $3.08 billion during the quarter, compared to analyst estimates of $3.78 billion. Equitable had a positive return on equity of 76.47% and a negative net margin of 2.64%. The company’s revenue was down 15.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.15 earnings per share. As a group, equities research analysts predict that Equitable Holdings, Inc. will post 6.05 EPS for the current fiscal year.

Equitable Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 3rd. Shareholders of record on Tuesday, November 26th were paid a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 2.02%. The ex-dividend date of this dividend was Tuesday, November 26th. Equitable’s dividend payout ratio is currently -88.07%.

Insider Buying and Selling at Equitable

In other Equitable news, COO Jeffrey J. Hurd sold 6,666 shares of the company’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $47.53, for a total transaction of $316,834.98. Following the completion of the sale, the chief operating officer now directly owns 105,246 shares in the company, valued at $5,002,342.38. This represents a 5.96 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Mark Pearson sold 30,000 shares of Equitable stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $40.78, for a total value of $1,223,400.00. Following the completion of the transaction, the chief executive officer now owns 668,555 shares in the company, valued at approximately $27,263,672.90. This represents a 4.29 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 100,166 shares of company stock worth $4,443,605 over the last ninety days. Insiders own 1.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on EQH. Morgan Stanley decreased their price target on Equitable from $48.00 to $46.00 and set an “overweight” rating on the stock in a research report on Monday, August 19th. Wells Fargo & Company upped their target price on shares of Equitable from $43.00 to $47.00 and gave the stock an “overweight” rating in a report on Thursday, October 10th. Keefe, Bruyette & Woods raised shares of Equitable from a “market perform” rating to an “outperform” rating and raised their price target for the company from $54.00 to $58.00 in a report on Monday, December 9th. Finally, Barclays upped their price target on shares of Equitable from $59.00 to $60.00 and gave the stock an “overweight” rating in a report on Tuesday, October 8th. Two research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, Equitable has a consensus rating of “Moderate Buy” and a consensus target price of $50.10.

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.