Key Points
- Equitable COO Jeffrey Hurd sold 14,358 shares on June 15 at an average price of $45.11, generating about $647,689. The sale was made under a pre-arranged Rule 10b5-1 trading plan and reduced his holdings by 16.11%.
- The company recently beat Wall Street’s quarterly expectations, reporting EPS of $1.62 versus the $1.60 estimate and revenue of $4.23 billion versus the expected $3.95 billion. Despite the beat, revenue fell 7.6% year over year.
- Equitable raised its quarterly dividend to $0.30 per share from $0.27, which annualizes to $1.20 and a yield of 2.6%. Analysts currently rate the stock a “Moderate Buy” with an average target price of $58.64.
Equitable Holdings, Inc. (NYSE:EQH - Get Free Report) COO Jeffrey Hurd sold 14,358 shares of Equitable stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $45.11, for a total value of $647,689.38. Following the completion of the sale, the chief operating officer owned 74,748 shares of the company's stock, valued at approximately $3,371,882.28. The trade was a 16.11% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Equitable Price Performance
Shares of EQH opened at $45.36 on Friday. The firm has a market cap of $12.77 billion, a PE ratio of -15.97, a price-to-earnings-growth ratio of 0.49 and a beta of 1.10. Equitable Holdings, Inc. has a 52-week low of $35.19 and a 52-week high of $56.61. The business's 50 day moving average price is $41.81 and its two-hundred day moving average price is $43.14. The company has a debt-to-equity ratio of 8.75, a quick ratio of 0.11 and a current ratio of 0.11.
Equitable (NYSE:EQH - Get Free Report) last announced its quarterly earnings data on Monday, May 4th. The company reported $1.62 EPS for the quarter, topping the consensus estimate of $1.60 by $0.02. The company had revenue of $4.23 billion during the quarter, compared to the consensus estimate of $3.95 billion. Equitable had a negative net margin of 7.26% and a positive return on equity of 232.29%. The company's quarterly revenue was down 7.6% on a year-over-year basis. During the same quarter last year, the firm posted $1.35 EPS. On average, equities analysts anticipate that Equitable Holdings, Inc. will post 7.07 EPS for the current year.
Equitable Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Monday, June 8th. Shareholders of record on Monday, June 1st were issued a $0.30 dividend. The ex-dividend date was Monday, June 1st. This is a positive change from Equitable's previous quarterly dividend of $0.27. This represents a $1.20 dividend on an annualized basis and a yield of 2.6%. Equitable's dividend payout ratio is -42.25%.
Wall Street Analyst Weigh In
Several brokerages have recently weighed in on EQH. Morgan Stanley dropped their price objective on shares of Equitable from $59.00 to $54.00 and set an "overweight" rating on the stock in a report on Tuesday, March 3rd. Mizuho raised their target price on Equitable from $58.00 to $61.00 and gave the company an "outperform" rating in a research note on Thursday, May 7th. UBS Group boosted their target price on Equitable from $58.00 to $63.00 and gave the company a "buy" rating in a research report on Thursday, June 11th. JPMorgan Chase & Co. cut their price target on Equitable from $58.00 to $57.00 and set an "overweight" rating on the stock in a report on Wednesday, April 29th. Finally, Wall Street Zen upgraded Equitable from a "sell" rating to a "hold" rating in a report on Saturday, February 28th. Two investment analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and two have given a Sell rating to the company. According to MarketBeat.com, Equitable currently has an average rating of "Moderate Buy" and an average target price of $58.64.
Get Our Latest Stock Report on Equitable
Institutional Inflows and Outflows
A number of large investors have recently made changes to their positions in EQH. Price T Rowe Associates Inc. MD grew its holdings in shares of Equitable by 7.0% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 17,258,124 shares of the company's stock valued at $822,351,000 after buying an additional 1,132,861 shares during the last quarter. Capital International Investors raised its holdings in shares of 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 position in Equitable in the 4th quarter valued at about $550,995,000. Thornburg Investment Management Inc. lifted its position in Equitable by 0.5% in the 4th quarter. Thornburg Investment Management Inc. now owns 4,889,730 shares of the company's stock valued at $232,996,000 after acquiring an additional 22,087 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its stake in Equitable by 4.2% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 4,822,908 shares of the company's stock valued at $229,812,000 after purchasing an additional 193,640 shares during the last quarter. 92.70% of the stock is owned by institutional investors.
Equitable Company Profile
(
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.
Featured Stories
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
