California State Teachers Retirement System Has $14.27 Million Stock Position in Equitable Holdings, Inc. $EQH

Key Points

• CalSTRS cut its Equitable Holdings stake by 36.3% in the second quarter, selling 185,078 shares and retaining a position worth approximately $14.27 million. Institutional investors collectively own 92.7% of EQH.
• Wall Street maintains a positive outlook, with a consensus “Moderate Buy” rating and an average price target of $61.82, above the reported share price of $53.88.
• Equitable exceeded quarterly EPS expectations, reporting $1.70 versus the $1.65 consensus estimate, while revenue fell 29.8% year over year. The company also declared a quarterly dividend of $0.30, equivalent to a 2.2% annual yield.

California State Teachers Retirement System trimmed its holdings in shares of Equitable Holdings, Inc. (NYSE:EQH - Free Report) by 36.3% in the second quarter, according to its most recent filing with the SEC. The firm owned 325,268 shares of the company's stock after selling 185,078 shares during the period. California State Teachers Retirement System owned approximately 0.12% of Equitable worth $14,272,760 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. BlackRock Inc. acquired a new stake in Equitable during the second quarter worth about $1,136,305,000. Capital International Investors grew its holdings in Equitable by 23.0% in the 4th quarter. Capital International Investors now owns 13,545,628 shares of the company's stock worth $645,449,000 after acquiring an additional 2,532,791 shares during the last quarter. Norges Bank bought a new stake in shares of Equitable in the 4th quarter worth approximately $550,995,000. Canada Pension Plan Investment Board bought a new position in Equitable in the second quarter valued at about $399,576,000. Finally, Wellington Management Group LLP boosted its position in shares of Equitable by 6.3% during the second quarter. Wellington Management Group LLP now owns 8,784,986 shares of the company's stock worth $385,485,000 after acquiring an additional 523,638 shares during the last quarter. Institutional investors own 92.70% of the company's stock.

Wall Street Analysts Forecast Growth

EQH has been the subject of several recent research reports. Keefe, Bruyette & Woods lifted their target price on shares of Equitable from $62.00 to $67.00 and gave the company an "outperform" rating in a report on Tuesday, August 11th. Wells Fargo & Company raised their price target on shares of Equitable from $60.00 to $64.00 and gave the company an "overweight" rating in a report on Wednesday, August 19th. Evercore reaffirmed an "outperform" rating and issued a $66.00 target price on shares of Equitable in a research report on Thursday, August 20th. Jefferies Financial Group lifted their target price on shares of Equitable from $64.00 to $66.00 and gave the company a "buy" rating in a research note on Friday, July 10th. Finally, Zacks Research raised Equitable from a "strong sell" rating to a "hold" rating in a research report on Monday, June 29th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $61.82.

Insiders Place Their Bets

In other Equitable news, Director Charles Stonehill sold 7,500 shares of the business's stock in a transaction dated Thursday, August 6th. The stock was sold at an average price of $51.54, for a total value of $386,550.00. Following the completion of the sale, the director owned 34,357 shares of the company's stock, valued at $1,770,759.78. The trade was a 17.92% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Craig MacKay sold 2,200 shares of Equitable stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $51.37, for a total transaction of $113,014.00. Following the sale, the director owned 18,999 shares of the company's stock, valued at approximately $975,978.63. This represents a 10.38% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 107,436 shares of company stock valued at $5,196,612 over the last 90 days. 1.00% of the stock is owned by corporate insiders.

Equitable Price Performance

EQH traded up $0.21 during trading on Tuesday, hitting $53.88. 1,287,513 shares of the company traded hands, compared to its average volume of 3,569,336. The company has a market cap of $14.71 billion, a PE ratio of -16.28, a P/E/G ratio of 0.52 and a beta of 1.10. The stock's 50-day simple moving average is $49.95 and its two-hundred day simple moving average is $44.21. Equitable Holdings, Inc. has a 1 year low of $35.19 and a 1 year high of $55.15. The company has a current ratio of 0.15, a quick ratio of 0.15 and a debt-to-equity ratio of 8.75.

Equitable (NYSE:EQH - Get Free Report) last released its quarterly earnings data on Tuesday, August 4th. The company reported $1.70 earnings per share for the quarter, beating analysts' consensus estimates of $1.65 by $0.05. The business had revenue of $1.66 billion during the quarter, compared to analyst estimates of $3.84 billion. Equitable had a positive return on equity of 511.35% and a negative net margin of 8.72%.The company's revenue was down 29.8% on a year-over-year basis. During the same quarter last year, the business posted $1.10 EPS. As a group, sell-side analysts anticipate that Equitable Holdings, Inc. will post 7.18 earnings per share for the current fiscal year.

Equitable Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, August 10th. Stockholders of record on Monday, August 3rd were paid a $0.30 dividend. The ex-dividend date of this dividend was Monday, August 3rd. This represents a $1.20 annualized dividend and a dividend yield of 2.2%. Equitable's dividend payout ratio is presently -36.25%.

Equitable Profile

Equitable Holdings, Inc is a financial services company that provides retirement, life insurance and wealth management solutions. Its businesses serve individuals, families, employers and institutions through financial professionals and advisory channels.

The company's principal operations include Equitable, which offers individual life insurance, annuities, retirement plans and employee benefits, and Equitable Advisors, which provides financial planning and investment advice. Equitable Holdings also owns a majority interest in AllianceBernstein, a global investment management firm serving institutional and retail clients.

The company traces its history to 1859, when the Equitable Life Assurance Society of the United States was founded.

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