Equitable Holdings, Inc. (NYSE:EQH) CEO Sells $1,422,900.00 in Stock

Equitable Holdings, Inc. (NYSE:EQH) CEO Mark Pearson sold 30,000 shares of the stock in a transaction on Friday, November 15th. The shares were sold at an average price of $47.43, for a total transaction of $1,422,900.00. Following the completion of the sale, the chief executive officer now directly owns 648,555 shares of the company’s stock, valued at approximately $30,760,963.65. This trade represents a 4.42 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Mark Pearson also recently made the following trade(s):

• On Tuesday, October 15th, Mark Pearson sold 30,000 shares of Equitable stock. The stock was sold at an average price of $44.40, for a total transaction of $1,332,000.00.
• On Monday, September 16th, Mark Pearson sold 30,000 shares of Equitable stock. The stock was sold at an average price of $40.78, for a total transaction of $1,223,400.00.
• On Thursday, August 29th, Mark Pearson sold 30,000 shares of Equitable stock. The shares were sold at an average price of $42.20, for a total transaction of $1,266,000.00.

Equitable Trading Up 0.3 %

Shares of Equitable stock opened at $46.72 on Thursday. The firm has a 50-day moving average of $44.42 and a 200-day moving average of $42.02. The stock has a market cap of $14.64 billion, a PE ratio of -42.86 and a beta of 1.40. Equitable Holdings, Inc. has a 52-week low of $28.18 and a 52-week high of $50.51. The company has a debt-to-equity ratio of 1.63, a quick ratio of 0.12 and a current ratio of 0.12.

Equitable (NYSE:EQH) last posted its quarterly earnings data on Monday, November 4th. The company reported $1.53 earnings per share for the quarter, hitting the consensus estimate of $1.53. Equitable had a negative net margin of 2.64% and a positive return on equity of 76.47%. The business had revenue of $3.08 billion during the quarter, compared to analysts’ expectations of $3.78 billion. During the same quarter in the prior year, the business posted $1.15 earnings per share. Equitable’s revenue was down 15.1% compared to the same quarter last year. As a group, sell-side analysts forecast that Equitable Holdings, Inc. will post 6.03 EPS for the current year.

Equitable Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 3rd. Investors of record on Tuesday, November 26th will be given a dividend of $0.24 per share. The ex-dividend date is Tuesday, November 26th. This represents a $0.96 annualized dividend and a yield of 2.05%. Equitable’s dividend payout ratio is -88.07%.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. Barclays lifted their price objective on shares of Equitable from $59.00 to $60.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 8th. Truist Financial lifted their price objective on shares of Equitable from $44.00 to $52.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Morgan Stanley lowered their price objective on shares of Equitable from $48.00 to $46.00 and set an “overweight” rating on the stock in a report on Monday, August 19th. Finally, Wells Fargo & Company boosted their target price on shares of Equitable from $43.00 to $47.00 and gave the stock an “overweight” rating in a report on Thursday, October 10th. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $48.70.

Institutional Investors Weigh In On Equitable

Several institutional investors and hedge funds have recently bought and sold shares of EQH. Covestor Ltd raised its stake in Equitable by 61.5% during the third quarter. Covestor Ltd now owns 646 shares of the company’s stock worth $27,000 after acquiring an additional 246 shares in the last quarter. New Covenant Trust Company N.A. acquired a new position in Equitable during the first quarter worth about $28,000. LRI Investments LLC acquired a new position in Equitable during the first quarter worth about $45,000. Carolina Wealth Advisors LLC acquired a new position in Equitable during the third quarter worth about $48,000. Finally, UMB Bank n.a. raised its stake in Equitable by 86.3% during the third quarter. UMB Bank n.a. now owns 1,550 shares of the company’s stock worth $65,000 after acquiring an additional 718 shares in the last quarter. Institutional investors own 92.70% of the company’s stock.

Equitable Company Profile

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.