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 company’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $47.43, for a total value of $1,422,900.00. Following the completion of the sale, the chief executive officer now owns 648,555 shares in the company, valued at $30,760,963.65. The trade was a 4.42 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed 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 value 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 value of $1,223,400.00.
• On Thursday, August 29th, Mark Pearson sold 30,000 shares of Equitable stock. The stock was sold at an average price of $42.20, for a total value of $1,266,000.00.

Equitable Trading Up 0.3 %

Shares of Equitable stock opened at $46.72 on Thursday. Equitable Holdings, Inc. has a 1 year low of $28.18 and a 1 year high of $50.51. The firm has a market cap of $14.64 billion, a PE ratio of -42.86 and a beta of 1.40. The stock has a fifty day moving average price of $44.42 and a 200-day moving average price of $42.02. The company has a debt-to-equity ratio of 1.63, a current ratio of 0.12 and a quick ratio of 0.12.

Equitable (NYSE:EQH) last posted its quarterly earnings results 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 positive return on equity of 76.47% and a negative net margin of 2.64%. The company had revenue of $3.08 billion during the quarter, compared to the consensus estimate of $3.78 billion. During the same quarter in the prior year, the company earned $1.15 EPS. The firm’s quarterly revenue was down 15.1% compared to the same quarter last year. Equities research analysts anticipate 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 issued a dividend of $0.24 per share. The ex-dividend date is Tuesday, November 26th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.05%. Equitable’s dividend payout ratio is -88.07%.

Hedge Funds Weigh In On Equitable

A number of large investors have recently modified their holdings of EQH. Acadian Asset Management LLC increased its stake in Equitable by 24,432.7% in the 2nd quarter. Acadian Asset Management LLC now owns 3,168,402 shares of the company’s stock worth $129,444,000 after purchasing an additional 3,155,487 shares during the period. Zurich Insurance Group Ltd FI bought a new stake in Equitable in the second quarter worth $110,176,000. Samlyn Capital LLC bought a new stake in Equitable in the second quarter worth $63,334,000. Principal Financial Group Inc. boosted its holdings in Equitable by 57.8% in the second quarter. Principal Financial Group Inc. now owns 1,969,388 shares of the company’s stock worth $80,470,000 after acquiring an additional 721,028 shares in the last quarter. Finally, Swedbank AB purchased a new position in shares of Equitable in the first quarter worth $27,237,000. 92.70% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have issued reports on EQH shares. Morgan Stanley cut their price target on Equitable from $48.00 to $46.00 and set an “overweight” rating on the stock in a report on Monday, August 19th. Truist Financial increased their price target on Equitable from $44.00 to $52.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Wells Fargo & Company increased their price target on Equitable from $43.00 to $47.00 and gave the company an “overweight” rating in a research report on Thursday, October 10th. Finally, Barclays increased their price target on Equitable from $59.00 to $60.00 and gave the company an “overweight” rating in a research report on Tuesday, October 8th. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Equitable presently has an average rating of “Moderate Buy” and an average target price of $48.70.

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.