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New York State Common Retirement Fund Decreases Position in Equitable Holdings, Inc. (NYSE:EQH)

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New York State Common Retirement Fund cut its stake in Equitable Holdings, Inc. (NYSE:EQHGet Rating) by 2.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 477,888 shares of the company’s stock after selling 10,986 shares during the quarter. New York State Common Retirement Fund owned approximately 0.12% of Equitable worth $14,772,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Arizona State Retirement System lifted its stake in Equitable by 0.4% in the 1st quarter. Arizona State Retirement System now owns 101,403 shares of the company’s stock valued at $3,134,000 after buying an additional 368 shares in the last quarter. Hohimer Wealth Management LLC lifted its stake in Equitable by 5.2% in the 1st quarter. Hohimer Wealth Management LLC now owns 136,968 shares of the company’s stock worth $4,234,000 after purchasing an additional 6,763 shares in the last quarter. Edge Capital Group LLC purchased a new position in Equitable in the 1st quarter worth approximately $1,855,000. Vestmark Advisory Solutions Inc. purchased a new position in Equitable in the 1st quarter worth approximately $274,000. Finally, Greenleaf Trust lifted its stake in Equitable by 8.6% in the 1st quarter. Greenleaf Trust now owns 18,971 shares of the company’s stock worth $586,000 after purchasing an additional 1,498 shares in the last quarter.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on EQH shares. UBS Group raised shares of Equitable to a “positive” rating in a research note on Wednesday, May 11th. Barclays cut their price target on shares of Equitable from $37.00 to $32.00 and set an “overweight” rating for the company in a report on Wednesday, July 13th. JPMorgan Chase & Co. cut their price target on shares of Equitable from $36.00 to $34.00 in a report on Monday, July 11th. TheStreet upgraded shares of Equitable from a “c+” rating to a “b” rating in a report on Monday, May 9th. Finally, Evercore ISI cut their price target on shares of Equitable from $45.00 to $41.00 and set an “outperform” rating for the company in a report on Wednesday, July 6th. Ten research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $41.11.

Insider Buying and Selling at Equitable

In other Equitable news, COO Jeffrey J. Hurd sold 8,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 26th. The shares were sold at an average price of $30.00, for a total value of $240,000.00. Following the completion of the transaction, the chief operating officer now owns 95,904 shares of the company’s stock, valued at approximately $2,877,120. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Equitable news, COO Jeffrey J. Hurd sold 8,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 26th. The shares were sold at an average price of $30.00, for a total value of $240,000.00. Following the completion of the transaction, the chief operating officer now owns 95,904 shares of the company’s stock, valued at approximately $2,877,120. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Mark Pearson sold 30,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 26th. The shares were sold at an average price of $30.04, for a total transaction of $901,200.00. Following the completion of the transaction, the chief executive officer now directly owns 482,212 shares of the company’s stock, valued at approximately $14,485,648.48. The disclosure for this sale can be found here. 0.98% of the stock is currently owned by corporate insiders.

Equitable Stock Performance

Equitable stock opened at $28.33 on Friday. Equitable Holdings, Inc. has a fifty-two week low of $24.61 and a fifty-two week high of $37.13. The firm has a 50 day moving average price of $27.17 and a 200 day moving average price of $29.87. The company has a market capitalization of $10.79 billion, a PE ratio of 3.52 and a beta of 1.47.

Equitable (NYSE:EQHGet Rating) last posted its earnings results on Monday, May 9th. The company reported $1.53 earnings per share for the quarter, meeting the consensus estimate of $1.53. The company had revenue of $3.72 billion during the quarter, compared to analyst estimates of $3.61 billion. During the same quarter last year, the business posted $1.13 EPS. As a group, equities research analysts forecast that Equitable Holdings, Inc. will post 5.35 earnings per share for the current year.

Equitable Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, August 15th. Investors of record on Monday, August 8th will be issued a $0.20 dividend. The ex-dividend date of this dividend is Friday, August 5th. This represents a $0.80 annualized dividend and a yield of 2.82%. Equitable’s dividend payout ratio (DPR) is presently 9.94%.

Equitable Company Profile

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Equitable Holdings, Inc, together with its consolidated subsidiaries, operates as a diversified financial services company worldwide. The company operates through four segments: Individual Retirement, Group Retirement, Investment Management and Research, and Protection Solutions. The Individual Retirement segment offers a suite of variable annuity products primarily to affluent and high net worth individuals.

Further Reading

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