Retirement Systems of Alabama Sells 18,273 Shares of Equitable Holdings, Inc. $EQH

Retirement Systems of Alabama trimmed its stake in Equitable Holdings, Inc. (NYSE:EQH) by 5.0% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 343,885 shares of the company’s stock after selling 18,273 shares during the period. Retirement Systems of Alabama owned 0.12% of Equitable worth $16,386,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in EQH. Johnson Financial Group Inc. acquired a new position in Equitable during the third quarter valued at approximately $26,000. Root Financial Partners LLC acquired a new stake in shares of Equitable in the third quarter worth $36,000. Hilltop National Bank bought a new stake in shares of Equitable during the 3rd quarter worth $37,000. Caitong International Asset Management Co. Ltd bought a new stake in shares of Equitable during the 3rd quarter worth $38,000. Finally, Geneos Wealth Management Inc. grew its stake in Equitable by 92.6% in the 1st quarter. Geneos Wealth Management Inc. now owns 882 shares of the company’s stock valued at $46,000 after buying an additional 424 shares during the last quarter. Institutional investors own 92.70% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. Wells Fargo & Company dropped their target price on shares of Equitable from $60.00 to $57.00 and set an “overweight” rating on the stock in a report on Wednesday, February 25th. Raymond James Financial set a $60.00 price target on Equitable in a research report on Monday, January 5th. UBS Group dropped their price objective on Equitable from $67.00 to $66.00 and set a “buy” rating on the stock in a research note on Thursday, February 5th. Morgan Stanley cut their price objective on Equitable from $59.00 to $54.00 and set an “overweight” rating for the company in a research report on Tuesday, March 3rd. Finally, Mizuho set a $65.00 target price on Equitable in a research note on Wednesday, January 14th. Two investment analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have issued a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $59.55.

Insider Activity at Equitable

In related news, COO Jeffrey J. Hurd sold 6,790 shares of the stock in a transaction dated Thursday, January 15th. The shares were sold at an average price of $47.65, for a total value of $323,543.50. Following the completion of the sale, the chief operating officer owned 55,023 shares in the company, valued at approximately $2,621,845.95. This trade represents a 10.98% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Nick Lane sold 30,000 shares of the business’s stock in a transaction dated Thursday, January 15th. The shares were sold at an average price of $47.65, for a total value of $1,429,500.00. Following the transaction, the insider owned 99,958 shares in the company, valued at $4,762,998.70. This represents a 23.08% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 76,490 shares of company stock worth $3,587,184. Company insiders own 1.10% of the company’s stock.

Equitable Price Performance

NYSE:EQH opened at $37.77 on Friday. The company has a debt-to-equity ratio of 16.42, a current ratio of 0.13 and a quick ratio of 0.13. Equitable Holdings, Inc. has a one year low of $35.19 and a one year high of $56.61. The company has a fifty day moving average price of $41.37 and a 200 day moving average price of $45.78. The stock has a market cap of $10.59 billion, a P/E ratio of -7.84, a PEG ratio of 0.35 and a beta of 1.11.

Equitable Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 11th. Stockholders of record on Wednesday, March 4th were given a dividend of $0.27 per share. The ex-dividend date of this dividend was Wednesday, March 4th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 2.9%. Equitable’s dividend payout ratio is currently -22.41%.

Equitable declared that its Board of Directors has approved a stock repurchase program on Wednesday, February 11th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the company to purchase up to 7.7% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its shares are undervalued.

About Equitable

Equitable Holdings, Inc (NYSE: EQH) is a leading provider of life insurance, annuities and retirement plan services in the United States. Through its insurance subsidiary, AXA Equitable Life Insurance Company, the firm offers a broad range of permanent and term life insurance products designed to help individuals and families manage risk and build wealth. In addition, Equitable provides fixed, variable and indexed annuity solutions to support income planning in retirement, as well as a suite of group retirement and pension plan services for employers and plan sponsors.

The company also maintains an asset management arm that delivers investment strategies across equities, fixed income and alternative asset classes for both retail and institutional clients.