Mark Pearson Sells 30,000 Shares of Equitable Holdings, Inc. (NYSE:EQH) Stock

Equitable Holdings, Inc. (NYSE:EQH) CEO Mark Pearson sold 30,000 shares of the firm’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $47.31, for a total transaction of $1,419,300.00. Following the transaction, the chief executive officer now directly owns 639,939 shares in the company, valued at $30,275,514.09. The trade was a 4.48 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

• On Friday, November 15th, Mark Pearson sold 30,000 shares of Equitable stock. The shares were sold at an average price of $47.43, for a total transaction of $1,422,900.00.
• 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.

Equitable Price Performance

EQH opened at $44.36 on Thursday. The firm has a 50-day moving average price of $46.62 and a 200-day moving average price of $42.99. Equitable Holdings, Inc. has a twelve month low of $31.76 and a twelve month high of $50.51. The company has a quick ratio of 0.12, a current ratio of 0.12 and a debt-to-equity ratio of 1.63. The company has a market capitalization of $13.90 billion, a price-to-earnings ratio of -40.70 and a beta of 1.38.

Equitable (NYSE:EQH) last issued its earnings results on Monday, November 4th. The company reported $1.53 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.53. The business had revenue of $3.08 billion for the quarter, compared to analysts’ expectations of $3.78 billion. Equitable had a negative net margin of 2.64% and a positive return on equity of 76.47%. The business’s revenue for the quarter was down 15.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.15 EPS. Equities analysts expect that Equitable Holdings, Inc. will post 6.05 EPS for the current year.

Equitable Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 3rd. Shareholders of record on Tuesday, November 26th were issued a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 2.16%. The ex-dividend date was Tuesday, November 26th. Equitable’s payout ratio is presently -88.07%.

Institutional Investors Weigh In On Equitable

A number of institutional investors and hedge funds have recently modified their holdings of the company. Covestor Ltd lifted its stake in Equitable by 61.5% in the 3rd quarter. Covestor Ltd now owns 646 shares of the company’s stock worth $27,000 after purchasing an additional 246 shares in the last quarter. &PARTNERS raised its position in shares of Equitable by 0.7% in the second quarter. &PARTNERS now owns 34,328 shares of the company’s stock worth $1,403,000 after buying an additional 254 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its stake in Equitable by 5.1% during the third quarter. Allspring Global Investments Holdings LLC now owns 6,852 shares of the company’s stock valued at $288,000 after buying an additional 332 shares during the period. Capital Insight Partners LLC grew its position in Equitable by 2.6% during the second quarter. Capital Insight Partners LLC now owns 17,612 shares of the company’s stock worth $720,000 after buying an additional 440 shares in the last quarter. Finally, Creative Planning increased its stake in Equitable by 3.6% in the 3rd quarter. Creative Planning now owns 13,541 shares of the company’s stock worth $569,000 after acquiring an additional 476 shares during the last quarter. 92.70% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on EQH shares. Keefe, Bruyette & Woods upgraded Equitable from a “market perform” rating to an “outperform” rating and lifted their price target for the stock from $54.00 to $58.00 in a report on Monday, December 9th. Barclays raised their target price on Equitable from $59.00 to $60.00 and gave the company an “overweight” rating in a research report on Tuesday, October 8th. Finally, Wells Fargo & Company boosted their price target on shares of Equitable from $43.00 to $47.00 and gave the stock an “overweight” rating in a report on Thursday, October 10th. Two investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $50.10.

Equitable Company Profile

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.