State of Michigan Retirement System Acquires 800 Shares of Equitable Holdings, Inc. (NYSE:EQH)

State of Michigan Retirement System boosted its holdings in Equitable Holdings, Inc. (NYSE:EQH) by 1.0% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 84,486 shares of the company’s stock after buying an additional 800 shares during the period. State of Michigan Retirement System’s holdings in Equitable were worth $3,211,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the stock. Lindbrook Capital LLC boosted its position in shares of Equitable by 143.1% in the fourth quarter. Lindbrook Capital LLC now owns 1,004 shares of the company’s stock valued at $33,000 after acquiring an additional 591 shares during the period. Blue Trust Inc. grew its position in shares of Equitable by 126.2% during the 4th quarter. Blue Trust Inc. now owns 1,262 shares of the company’s stock valued at $42,000 after purchasing an additional 704 shares in the last quarter. GAMMA Investing LLC bought a new position in shares of Equitable in the fourth quarter worth $50,000. Harvest Fund Management Co. Ltd purchased a new stake in shares of Equitable in the fourth quarter worth $64,000. Finally, Rise Advisors LLC boosted its stake in Equitable by 1,421.4% during the first quarter. Rise Advisors LLC now owns 1,704 shares of the company’s stock valued at $65,000 after buying an additional 1,592 shares during the period. Hedge funds and other institutional investors own 92.70% of the company’s stock.

Analyst Upgrades and Downgrades

EQH has been the topic of several recent analyst reports. Jefferies Financial Group raised their price target on Equitable from $46.00 to $51.00 and gave the company a “buy” rating in a report on Friday, June 28th. JPMorgan Chase & Co. raised their target price on shares of Equitable from $36.00 to $45.00 and gave the company a “neutral” rating in a research note on Tuesday. Keefe, Bruyette & Woods boosted their price target on shares of Equitable from $41.00 to $43.00 and gave the stock a “market perform” rating in a research note on Tuesday, May 7th. Evercore ISI raised their price objective on shares of Equitable from $42.00 to $46.00 and gave the company an “outperform” rating in a research report on Thursday, April 11th. Finally, Truist Financial upped their target price on shares of Equitable from $40.00 to $44.00 and gave the stock a “buy” rating in a research report on Thursday, May 2nd. Four equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $41.90.

Insider Buying and Selling

In other Equitable news, COO Jeffrey J. Hurd sold 9,969 shares of the company’s stock in a transaction that occurred on Friday, June 14th. The stock was sold at an average price of $39.62, for a total transaction of $394,971.78. Following the transaction, the chief operating officer now owns 121,521 shares in the company, valued at approximately $4,814,662.02. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, COO Jeffrey J. Hurd sold 9,969 shares of the company’s stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $39.62, for a total value of $394,971.78. Following the sale, the chief operating officer now directly owns 121,521 shares of the company’s stock, valued at approximately $4,814,662.02. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Seth P. Bernstein sold 152,473 shares of Equitable stock in a transaction dated Thursday, May 2nd. The shares were sold at an average price of $38.06, for a total transaction of $5,803,122.38. Following the transaction, the insider now directly owns 88,660 shares of the company’s stock, valued at $3,374,399.60. The disclosure for this sale can be found here. Insiders sold a total of 202,411 shares of company stock valued at $7,646,571 over the last three months. Corporate insiders own 1.10% of the company’s stock.

Equitable Stock Up 1.4 %

NYSE:EQH opened at $41.38 on Wednesday. The firm has a market capitalization of $13.46 billion, a P/E ratio of 12.81 and a beta of 1.43. Equitable Holdings, Inc. has a 52 week low of $24.65 and a 52 week high of $41.95. The company has a fifty day moving average of $40.07 and a 200 day moving average of $36.47.

Equitable (NYSE:EQH) last posted its earnings results on Tuesday, April 30th. The company reported $1.43 earnings per share for the quarter, topping analysts’ consensus estimates of $1.31 by $0.12. The firm had revenue of $2.23 billion for the quarter, compared to analysts’ expectations of $3.59 billion. During the same quarter in the prior year, the company posted $0.96 earnings per share. The business’s revenue for the quarter was down 5.4% on a year-over-year basis. As a group, analysts anticipate that Equitable Holdings, Inc. will post 6.12 EPS for the current year.

Equitable Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 10th. Investors of record on Monday, June 3rd were given a dividend of $0.24 per share. The ex-dividend date of this dividend was Monday, June 3rd. This represents a $0.96 annualized dividend and a dividend yield of 2.32%. This is a boost from Equitable’s previous quarterly dividend of $0.22. Equitable’s payout ratio is currently 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.