State of Michigan Retirement System Has $3.21 Million Stock Holdings in Equitable Holdings, Inc. (NYSE:EQH)

State of Michigan Retirement System lifted its position in Equitable Holdings, Inc. (NYSE:EQH) by 1.0% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 84,486 shares of the company’s stock after purchasing an additional 800 shares during the quarter. State of Michigan Retirement System’s holdings in Equitable were worth $3,211,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Tributary Capital Management LLC boosted its holdings in shares of Equitable by 40.0% in the 1st quarter. Tributary Capital Management LLC now owns 10,500 shares of the company’s stock worth $399,000 after acquiring an additional 3,000 shares in the last quarter. Capital Insight Partners LLC raised its holdings in shares of Equitable by 42.3% in the first quarter. Capital Insight Partners LLC now owns 17,172 shares of the company’s stock valued at $653,000 after buying an additional 5,104 shares during the last quarter. BTC Capital Management Inc. acquired a new position in Equitable during the 1st quarter worth about $2,726,000. Rise Advisors LLC grew its holdings in Equitable by 1,421.4% during the 1st quarter. Rise Advisors LLC now owns 1,704 shares of the company’s stock worth $65,000 after acquiring an additional 1,592 shares during the last quarter. Finally, GAMMA Investing LLC increased its position in Equitable by 26.4% in the 1st quarter. GAMMA Investing LLC now owns 1,939 shares of the company’s stock valued at $74,000 after acquiring an additional 405 shares in the last quarter. 92.70% of the stock is owned by institutional investors.

Equitable Trading Up 1.4 %

Shares of EQH stock opened at $41.38 on Wednesday. The firm’s fifty day moving average price is $40.07 and its two-hundred day moving average price is $36.47. Equitable Holdings, Inc. has a 1 year low of $24.65 and a 1 year high of $41.95. The firm has a market capitalization of $13.46 billion, a P/E ratio of 12.81 and a beta of 1.43.

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

Equitable Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 10th. Stockholders of record on Monday, June 3rd were given a $0.24 dividend. The ex-dividend date was Monday, June 3rd. This is a positive change from Equitable’s previous quarterly dividend of $0.22. This represents a $0.96 annualized dividend and a dividend yield of 2.32%. Equitable’s dividend payout ratio is presently 29.72%.

Insider Transactions at Equitable

In related 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 transaction, the chief operating officer now owns 121,521 shares in the company, valued at approximately $4,814,662.02. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, COO Jeffrey J. Hurd sold 9,969 shares of the business’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 completion of the sale, the chief operating officer now owns 121,521 shares in the company, valued at $4,814,662.02. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Seth P. Bernstein sold 152,473 shares of the stock in a transaction that occurred on Thursday, May 2nd. The stock was sold at an average price of $38.06, for a total value of $5,803,122.38. Following the transaction, the insider now owns 88,660 shares in the company, valued at approximately $3,374,399.60. The disclosure for this sale can be found here. In the last 90 days, insiders sold 202,411 shares of company stock worth $7,646,571. 1.10% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on EQH. Wells Fargo & Company decreased their price target on shares of Equitable from $46.00 to $44.00 and set an “overweight” rating on the stock in a research note on Friday, May 10th. Keefe, Bruyette & Woods lifted their target price on Equitable from $41.00 to $43.00 and gave the company a “market perform” rating in a research note on Tuesday, May 7th. JPMorgan Chase & Co. upped their price target on Equitable from $36.00 to $45.00 and gave the company a “neutral” rating in a research note on Tuesday. Evercore ISI lifted their price objective on Equitable from $42.00 to $46.00 and gave the stock 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 company a “buy” rating in a research report on Thursday, May 2nd. Four investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, Equitable has an average rating of “Moderate Buy” and an average price target of $41.90.

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.