Teachers Retirement System of The State of Kentucky Sells 2,680 Shares of Equitable Holdings, Inc. (NYSE:EQH)

Teachers Retirement System of The State of Kentucky decreased its stake in Equitable Holdings, Inc. (NYSE:EQH) by 2.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. 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 and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in EQH. CWM LLC increased its position in Equitable by 42.5% during the 2nd quarter. CWM LLC now owns 4,175 shares of the company’s stock valued at $171,000 after purchasing an additional 1,246 shares during the period. Diversified Trust Co acquired a new stake in shares of Equitable during the second quarter worth $328,000. Blue Trust Inc. raised its stake in Equitable by 215.1% during the second quarter. Blue Trust Inc. now owns 2,590 shares of the company’s stock worth $98,000 after buying an additional 1,768 shares during the last quarter. TCW Group Inc. lifted its holdings in Equitable by 94.6% in the second quarter. TCW Group Inc. now owns 134,215 shares of the company’s stock valued at $5,484,000 after buying an additional 65,232 shares during the period. Finally, Raymond James & Associates boosted its position in Equitable by 117.3% during the second quarter. Raymond James & Associates now owns 246,215 shares of the company’s stock valued at $10,060,000 after acquiring an additional 132,922 shares during the last quarter. 92.70% of the stock is currently owned by institutional investors.

Insider Activity

In related news, COO Jeffrey J. Hurd sold 6,666 shares of the firm’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 transaction, the chief operating officer now directly owns 105,246 shares of the company’s stock, valued at $5,002,342.38. This trade represents a 5.96 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Mark Pearson sold 30,000 shares of the stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $40.78, for a total transaction of $1,223,400.00. Following the completion of the sale, the chief executive officer now owns 668,555 shares of the company’s stock, valued at approximately $27,263,672.90. This trade 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 90 days. 1.10% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

EQH has been the subject of several research analyst reports. Wells Fargo & Company lifted their price objective on Equitable from $43.00 to $47.00 and gave the stock an “overweight” rating in a research report on Thursday, October 10th. Barclays lifted their target price on Equitable from $59.00 to $60.00 and gave the stock an “overweight” rating in a report on Tuesday, October 8th. Keefe, Bruyette & Woods upgraded Equitable from a “market perform” rating to an “outperform” rating and increased their price target for the stock from $54.00 to $58.00 in a report on Monday, December 9th. Finally, Morgan Stanley reduced their price objective on shares of Equitable from $48.00 to $46.00 and set an “overweight” rating for the company in a research report on Monday, August 19th. 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 an average rating of “Moderate Buy” and an average price target of $50.10.

Equitable Price Performance

Shares of EQH opened at $47.47 on Friday. The business’s fifty day moving average is $46.42 and its 200 day moving average is $42.88. Equitable Holdings, Inc. has a 12-month low of $31.76 and a 12-month high of $50.51. The company has a quick ratio of 0.12, a current ratio of 0.12 and a debt-to-equity ratio of 1.63. The stock has a market cap of $14.87 billion, a P/E ratio of -43.55 and a beta of 1.38.

Equitable (NYSE:EQH) last released its quarterly earnings data on Monday, November 4th. The company reported $1.53 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.53. Equitable had a negative net margin of 2.64% and a positive return on equity of 76.47%. The firm had revenue of $3.08 billion for the quarter, compared to analyst estimates of $3.78 billion. During the same period last year, the firm earned $1.15 earnings per share. The business’s quarterly revenue was down 15.1% compared to the same quarter last year. Sell-side analysts anticipate that Equitable Holdings, Inc. will post 6.05 earnings per share for the current fiscal year.

Equitable Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 3rd. Stockholders of record on Tuesday, November 26th were paid a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 2.02%. The ex-dividend date was Tuesday, November 26th. Equitable’s dividend payout ratio (DPR) is presently -88.07%.

About Equitable

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.