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 stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $47.43, for a total transaction of $1,422,900.00. Following the sale, the chief executive officer now directly owns 648,555 shares in the company, valued at approximately $30,760,963.65. This represents a 4.42 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

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

• 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 transaction of $1,332,000.00.
• On Monday, September 16th, Mark Pearson sold 30,000 shares of Equitable stock. The shares were sold at an average price of $40.78, for a total transaction of $1,223,400.00.
• On Thursday, August 29th, Mark Pearson sold 30,000 shares of Equitable stock. The stock was sold at an average price of $42.20, for a total value of $1,266,000.00.

Equitable Trading Down 0.7 %

NYSE:EQH traded down $0.33 during trading hours on Monday, hitting $47.11. The stock had a trading volume of 2,339,318 shares, compared to its average volume of 2,499,375. Equitable Holdings, Inc. has a one year low of $28.02 and a one year high of $50.51. The company has a market cap of $14.76 billion, a price-to-earnings ratio of -43.12 and a beta of 1.40. The company has a debt-to-equity ratio of 1.63, a quick ratio of 0.12 and a current ratio of 0.12. The business’s 50 day moving average is $43.97 and its 200-day moving average is $41.87.

Equitable (NYSE:EQH) last released its quarterly earnings data on Monday, November 4th. The company reported $1.53 earnings per share for the quarter, meeting the consensus estimate of $1.53. Equitable had a positive return on equity of 76.47% and a negative net margin of 2.64%. The business had revenue of $3.08 billion for the quarter, compared to analysts’ expectations of $3.78 billion. During the same quarter in the previous year, the business posted $1.15 EPS. Equitable’s revenue for the quarter was down 15.1% on a year-over-year basis. Sell-side analysts anticipate that Equitable Holdings, Inc. will post 6.03 EPS for the current fiscal year.

Equitable Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 3rd. Investors of record on Tuesday, November 26th will be issued a dividend of $0.24 per share. The ex-dividend date of this dividend is Tuesday, November 26th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.04%. Equitable’s payout ratio is -88.07%.

Institutional Investors Weigh In On Equitable

Several institutional investors have recently added to or reduced their stakes in EQH. Covestor Ltd lifted its holdings in shares of Equitable by 61.5% in the third quarter. Covestor Ltd now owns 646 shares of the company’s stock valued at $27,000 after purchasing an additional 246 shares in the last quarter. New Covenant Trust Company N.A. acquired a new stake in shares of Equitable in the first quarter valued at approximately $28,000. LRI Investments LLC acquired a new position in Equitable during the first quarter worth $45,000. Carolina Wealth Advisors LLC bought a new position in shares of Equitable in the 3rd quarter valued at about $48,000. Finally, UMB Bank n.a. raised its stake in shares of Equitable by 86.3% during the 3rd quarter. UMB Bank n.a. now owns 1,550 shares of the company’s stock worth $65,000 after purchasing an additional 718 shares in the last quarter. 92.70% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on EQH. Truist Financial boosted their target price on Equitable from $44.00 to $52.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Wells Fargo & Company boosted their price objective on Equitable from $43.00 to $47.00 and gave the stock an “overweight” rating in a report on Thursday, October 10th. Citigroup raised their target price on shares of Equitable from $41.00 to $53.00 and gave the company a “buy” rating in a research note on Tuesday, July 23rd. Morgan Stanley dropped their price target on shares of Equitable from $48.00 to $46.00 and set an “overweight” rating for the company in a research note on Monday, August 19th. Finally, Barclays raised their price objective on shares of Equitable from $59.00 to $60.00 and gave the company an “overweight” rating in a research note on Tuesday, October 8th. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $48.70.

About Equitable

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.