Key Points
- CEO Mark Pearson sold 39,700 Equitable shares at an average price of $48.54, generating approximately $1.93 million. The transaction was conducted under a pre-arranged Rule 10b5-1 trading plan, leaving him with 753,403 shares.
- Equitable reported quarterly EPS of $1.62, slightly above analyst expectations, while revenue reached $4.23 billion but declined 7.6% year over year. The company declared a quarterly dividend of $0.30 per share, representing a 2.4% yield.
- Analysts maintain a generally positive view, with the stock receiving a “Moderate Buy” consensus rating and an average price target of $60.08, compared with a recent price of $49.38.
Equitable Holdings, Inc. (NYSE:EQH - Get Free Report) CEO Mark Pearson sold 39,700 shares of the business's stock in a transaction that occurred on Monday, July 20th. The shares were sold at an average price of $48.54, for a total transaction of $1,927,038.00. Following the transaction, the chief executive officer owned 753,403 shares of the company's stock, valued at approximately $36,570,181.62. This represents a 5.01% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Mark Pearson also recently made the following trade(s):
- On Thursday, June 18th, Mark Pearson sold 39,700 shares of Equitable stock. The shares were sold at an average price of $45.28, for a total transaction of $1,797,616.00.
Equitable Trading Up 1.6%
EQH opened at $49.38 on Wednesday. The firm's fifty day moving average is $44.77 and its two-hundred day moving average is $42.93. The firm has a market cap of $13.48 billion, a PE ratio of -17.39, a price-to-earnings-growth ratio of 0.48 and a beta of 1.10. Equitable Holdings, Inc. has a twelve month low of $35.19 and a twelve month high of $55.24. 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 results on Monday, May 4th. The company reported $1.62 earnings per share (EPS) for the quarter, beating 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 company had revenue of $4.23 billion during the quarter, compared to analyst estimates of $3.95 billion. During the same quarter in the previous year, the business earned $1.35 EPS. The firm's revenue was down 7.6% on a year-over-year basis. Equities research analysts anticipate that Equitable Holdings, Inc. will post 7.11 EPS for the current year.
Equitable Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 10th. Stockholders of record on Monday, August 3rd will be issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 2.4%. The ex-dividend date is Monday, August 3rd. Equitable's payout ratio is -42.25%.
Institutional Investors Weigh In On Equitable
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Price T Rowe Associates Inc. MD lifted its position in Equitable by 7.0% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 17,258,124 shares of the company's stock worth $822,351,000 after buying an additional 1,132,861 shares in the last quarter. Capital International Investors grew 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 valued at $645,449,000 after acquiring an additional 2,532,791 shares in the last quarter. Norges Bank bought a new position in shares of Equitable in the 4th quarter valued at about $550,995,000. Thornburg Investment Management Inc. increased its position in shares of Equitable by 0.5% in the fourth 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 during the last quarter. Finally, Massachusetts Financial Services Co. MA increased its position in shares of Equitable by 4.2% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 4,822,908 shares of the company's stock valued at $229,812,000 after acquiring an additional 193,640 shares during the last quarter. 92.70% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
Several equities research analysts recently commented on the stock. UBS Group boosted their price objective on shares of Equitable from $63.00 to $68.00 and gave the company a "buy" rating in a research report on Wednesday, July 8th. JPMorgan Chase & Co. dropped their price target on Equitable from $58.00 to $57.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 29th. Wells Fargo & Company boosted their price target on Equitable from $57.00 to $60.00 and gave the company an "overweight" rating in a report on Thursday, July 9th. Jefferies Financial Group upped their price objective on Equitable from $64.00 to $66.00 and gave the stock a "buy" rating in a research report on Friday, July 10th. Finally, Barclays decreased their price objective on Equitable from $51.00 to $50.00 and set an "overweight" rating for the company in a report on Tuesday, July 7th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and three have given a Hold rating to the company's stock. According to data from MarketBeat.com, Equitable has an average rating of "Moderate Buy" and an average target price of $60.08.
Get Our Latest Stock Analysis on Equitable
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.
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