Key Points
- Equitable CAO William James Iv Eckert sold 6,200 shares on June 10 at an average price of $41.83, totaling about $259,346. After the sale, he held 9,366 shares, representing a 39.83% reduction in his stake.
- This follows another insider sale by Eckert on May 15, when he sold 7,300 shares for about $310,104, indicating a continued pattern of share reductions.
- Equitable recently beat quarterly earnings estimates with EPS of $1.62 versus the expected $1.60 and revenue of $4.23 billion versus $3.95 billion. The company also raised its quarterly dividend to $0.30 and has a $1 billion share buyback authorization in place.
Equitable Holdings, Inc. (NYSE:EQH - Get Free Report) CAO William James Iv Eckert sold 6,200 shares of the firm's stock in a transaction dated Wednesday, June 10th. The stock was sold at an average price of $41.83, for a total value of $259,346.00. Following the sale, the chief accounting officer directly owned 9,366 shares of the company's stock, valued at $391,779.78. This trade represents a 39.83% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.
William James Iv Eckert also recently made the following trade(s):
- On Friday, May 15th, William James Iv Eckert sold 7,300 shares of Equitable stock. The stock was sold at an average price of $42.48, for a total value of $310,104.00.
Equitable Stock Down 0.2%
EQH opened at $41.85 on Thursday. Equitable Holdings, Inc. has a fifty-two week low of $35.19 and a fifty-two week high of $56.61. The business has a 50-day moving average of $40.96 and a 200-day moving average of $43.20. The company has a debt-to-equity ratio of 8.75, a current ratio of 0.11 and a quick ratio of 0.11. The company has a market capitalization of $11.78 billion, a PE ratio of -14.73, a price-to-earnings-growth ratio of 0.46 and a beta of 1.10.
Equitable (NYSE:EQH - Get Free Report) last posted its quarterly earnings results on Monday, May 4th. The company reported $1.62 earnings per share for the quarter, topping analysts' consensus estimates of $1.60 by $0.02. Equitable had a positive return on equity of 232.29% and a negative net margin of 7.26%.The company had revenue of $4.23 billion during the quarter, compared to the consensus estimate of $3.95 billion. During the same period last year, the business earned $1.35 EPS. The business's quarterly revenue was down 7.6% on a year-over-year basis. Equities research analysts forecast that Equitable Holdings, Inc. will post 7.07 EPS for the current fiscal year.
Equitable declared that its Board of Directors has authorized a share buyback plan on Wednesday, February 11th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the company to purchase up to 7.7% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company's board believes its shares are undervalued.
Equitable Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Monday, June 8th. Investors of record on Monday, June 1st were paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date of this dividend was Monday, June 1st. This is a positive change from Equitable's previous quarterly dividend of $0.27. Equitable's dividend payout ratio (DPR) is -42.25%.
Wall Street Analyst Weigh In
A number of research analysts recently weighed in on EQH shares. Keefe, Bruyette & Woods raised their price objective on Equitable from $51.00 to $60.00 and gave the company an "outperform" rating in a research note on Wednesday, May 6th. Wells Fargo & Company raised their price objective on Equitable from $56.00 to $57.00 and gave the company an "overweight" rating in a research note on Tuesday, May 12th. Morgan Stanley cut their price objective on Equitable from $59.00 to $54.00 and set an "overweight" rating on the stock in a research note on Tuesday, March 3rd. UBS Group cut their price objective on Equitable from $66.00 to $58.00 and set a "buy" rating on the stock in a research note on Thursday, April 9th. Finally, Barclays raised their price objective on Equitable from $49.00 to $51.00 and gave the company an "overweight" rating in a research note on Tuesday, May 5th. Two investment analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and two have assigned a Sell rating to the company. According to data from MarketBeat, Equitable presently has an average rating of "Moderate Buy" and an average price target of $58.18.
Read Our Latest Research Report on Equitable
Institutional Trading of Equitable
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Johnson Financial Group Inc. acquired a new stake in Equitable in the 3rd quarter valued at approximately $26,000. Covestor Ltd grew its holdings in Equitable by 124.7% in the 4th quarter. Covestor Ltd now owns 728 shares of the company's stock valued at $35,000 after buying an additional 404 shares during the last quarter. Caitong International Asset Management Co. Ltd acquired a new stake in Equitable in the 3rd quarter valued at approximately $38,000. Geneos Wealth Management Inc. grew its holdings 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. Finally, Root Financial Partners LLC grew its holdings in Equitable by 64.1% in the 1st quarter. Root Financial Partners LLC now owns 888 shares of the company's stock valued at $33,000 after buying an additional 347 shares during the last quarter. Institutional investors and hedge funds own 92.70% of the company's stock.
About Equitable
(
Get Free Report)
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.
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