Mark Pearson Sells 39,700 Shares of Equitable (NYSE:EQH) Stock

Key Points

  • CEO Mark Pearson sold 39,700 shares of Equitable (NYSE: EQH) on June 18 at an average price of $45.28, totaling about $1.8 million. The sale was made under a pre-arranged Rule 10b5-1 trading plan.
  • Equitable beat earnings and revenue estimates in its latest quarterly report, posting $1.62 EPS versus the $1.60 consensus and revenue of $4.23 billion versus $3.95 billion expected. Analysts still project 7.07 EPS for the current fiscal year.
  • The company raised its quarterly dividend to $0.30 from $0.27, equivalent to a $1.20 annualized payout and a 2.7% yield. Wall Street currently rates the stock a Moderate Buy with an average price target of $58.64.

Equitable Holdings, Inc. (NYSE:EQH - Get Free Report) CEO Mark Pearson sold 39,700 shares of the company's stock in a transaction dated Thursday, June 18th. The stock was sold at an average price of $45.28, for a total transaction of $1,797,616.00. Following the transaction, the chief executive officer owned 765,903 shares in the company, valued at approximately $34,680,087.84. This trade represents a 4.93% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

  • On Monday, April 20th, Mark Pearson sold 39,700 shares of Equitable stock. The shares were sold at an average price of $41.63, for a total transaction of $1,652,711.00.
  • On Wednesday, April 15th, Mark Pearson sold 1,387 shares of Equitable stock. The stock was sold at an average price of $40.03, for a total transaction of $55,521.61.
  • On Wednesday, April 8th, Mark Pearson sold 38,313 shares of Equitable stock. The stock was sold at an average price of $40.05, for a total transaction of $1,534,435.65.

Equitable Price Performance




EQH opened at $44.94 on Wednesday. Equitable Holdings, Inc. has a one year low of $35.19 and a one year high of $56.61. 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's 50 day simple moving average is $42.22 and its 200-day simple moving average is $43.13. The stock has a market capitalization of $12.65 billion, a P/E ratio of -15.82, a price-to-earnings-growth ratio of 0.49 and a beta of 1.10.

Equitable (NYSE:EQH - Get Free Report) last posted its quarterly earnings data on Monday, May 4th. The company reported $1.62 earnings per share for the quarter, topping the consensus estimate of $1.60 by $0.02. Equitable had a negative net margin of 7.26% and a positive return on equity of 232.29%. The firm had revenue of $4.23 billion during the quarter, compared to analysts' expectations of $3.95 billion. During the same quarter in the previous year, the company posted $1.35 EPS. Equitable's revenue was down 7.6% on a year-over-year basis. Sell-side analysts anticipate that Equitable Holdings, Inc. will post 7.07 earnings per share for the current fiscal year.

Equitable Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 8th. Investors of record on Monday, June 1st were issued a $0.30 dividend. This is a positive change from Equitable's previous quarterly dividend of $0.27. This represents a $1.20 annualized dividend and a yield of 2.7%. The ex-dividend date was Monday, June 1st. Equitable's dividend payout ratio (DPR) is -42.25%.

Wall Street Analyst Weigh In

A number of research firms have issued reports on EQH. Morgan Stanley cut their target price on shares of Equitable from $59.00 to $54.00 and set an "overweight" rating on the stock in a research report on Tuesday, March 3rd. Wells Fargo & Company lifted their price target on shares of Equitable from $56.00 to $57.00 and gave the stock an "overweight" rating in a research report on Tuesday, May 12th. Mizuho boosted their price target on shares of Equitable from $58.00 to $61.00 and gave the stock an "outperform" rating in a research note on Thursday, May 7th. Barclays increased their price objective on shares of Equitable from $49.00 to $51.00 and gave the company an "overweight" rating in a report on Tuesday, May 5th. Finally, Keefe, Bruyette & Woods raised their price objective on shares of Equitable from $51.00 to $60.00 and gave the company an "outperform" rating in a research note on Wednesday, May 6th. Two investment analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $58.64.

Check Out Our Latest Stock Analysis on Equitable

Hedge Funds Weigh In On Equitable

Several hedge funds have recently added to or reduced their stakes in EQH. Johnson Financial Group Inc. acquired a new position in shares of Equitable during the 3rd quarter worth about $26,000. Root Financial Partners LLC raised its position in shares of 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 acquiring an additional 347 shares during the period. Covestor Ltd raised its position in shares of Equitable by 124.7% in the 4th quarter. Covestor Ltd now owns 728 shares of the company's stock valued at $35,000 after acquiring an additional 404 shares during the period. Caitong International Asset Management Co. Ltd bought a new position in Equitable during the 3rd quarter worth approximately $38,000. Finally, Essential Partners LLC boosted its stake in Equitable by 245.2% during the 1st quarter. Essential Partners LLC now owns 1,084 shares of the company's stock worth $40,000 after acquiring an additional 770 shares during the last quarter. Institutional investors and hedge funds own 92.70% of the company's stock.

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.

Further Reading

Insider Buying and Selling by Quarter for Equitable (NYSE:EQH)

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