Retirement Systems of Alabama Takes Position in Equitable Holdings, Inc. (NYSE:EQH)

Retirement Systems of Alabama acquired a new stake in shares of Equitable Holdings, Inc. (NYSE:EQH - Free Report) during the fourth quarter, according to its most recent filing with the SEC. The fund acquired 398,501 shares of the company's stock, valued at approximately $13,270,000. Retirement Systems of Alabama owned 0.12% of Equitable as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Lindbrook Capital LLC raised its position in Equitable by 143.1% during the 4th quarter. Lindbrook Capital LLC now owns 1,004 shares of the company's stock valued at $33,000 after purchasing an additional 591 shares during the last quarter. Blue Trust Inc. boosted its stake in 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 during the last quarter. GAMMA Investing LLC purchased a new stake in Equitable during the 4th quarter valued at $50,000. Harvest Fund Management Co. Ltd purchased a new position in shares of Equitable in the 4th quarter worth $64,000. Finally, Cary Street Partners Investment Advisory LLC purchased a new position in shares of Equitable in the 3rd quarter worth $67,000. 92.70% of the stock is currently owned by institutional investors.

Equitable Price Performance

Shares of NYSE:EQH traded down $0.36 on Thursday, reaching $38.25. The company's stock had a trading volume of 3,441,545 shares, compared to its average volume of 2,647,135. The stock's 50-day moving average is $36.11 and its two-hundred day moving average is $32.86. Equitable Holdings, Inc. has a 52-week low of $21.89 and a 52-week high of $39.11. The stock has a market capitalization of $12.53 billion, a P/E ratio of 11.84 and a beta of 1.40.

Equitable (NYSE:EQH - Get Free Report) last issued its earnings results on Tuesday, April 30th. The company reported $1.43 earnings per share for the quarter, topping the consensus estimate of $1.31 by $0.12. The company had revenue of $2.23 billion for the quarter, compared to analyst estimates of $3.59 billion. The company's quarterly revenue was down 5.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.96 earnings per share. Equities analysts forecast that Equitable Holdings, Inc. will post 6.01 earnings per share for the current fiscal year.

Equitable Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 4th. Investors of record on Monday, February 26th were issued a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 2.30%. The ex-dividend date of this dividend was Friday, February 23rd. Equitable's payout ratio is 27.24%.

Insider Activity at Equitable

In other news, insider Nick Lane sold 20,000 shares of the firm's stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $34.02, for a total value of $680,400.00. Following the transaction, the insider now directly owns 144,132 shares in the company, valued at approximately $4,903,370.64. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, Director Charles G.T. Stonehill sold 5,000 shares of Equitable stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $34.02, for a total value of $170,100.00. Following the transaction, the director now owns 29,758 shares of the company's stock, valued at approximately $1,012,367.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Nick Lane sold 20,000 shares of Equitable stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $34.02, for a total transaction of $680,400.00. Following the completion of the transaction, the insider now directly owns 144,132 shares in the company, valued at $4,903,370.64. The disclosure for this sale can be found here. In the last three months, insiders sold 181,907 shares of company stock valued at $6,395,849. Corporate insiders own 1.10% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on EQH shares. Jefferies Financial Group raised their price target on Equitable from $42.00 to $45.00 and gave the company a "buy" rating in a report on Friday, March 22nd. Truist Financial boosted their target price on Equitable from $40.00 to $44.00 and gave the company a "buy" rating in a research report on Thursday. UBS Group lifted their price target on shares of Equitable from $34.00 to $40.00 and gave the company a "buy" rating in a research note on Wednesday, January 10th. Wells Fargo & Company lifted their price target on shares of Equitable from $43.00 to $46.00 and gave the company an "overweight" rating in a research note on Thursday, April 11th. Finally, Keefe, Bruyette & Woods boosted their price objective on shares of Equitable from $39.00 to $41.00 and gave the stock a "market perform" rating in a research note on Wednesday, April 10th. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, Equitable has a consensus rating of "Moderate Buy" and an average target price of $40.10.

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.