Equitable Holdings, Inc. (NYSE:EQH) Declares Quarterly Dividend of $0.24

Equitable Holdings, Inc. (NYSE:EQH) declared a quarterly dividend on Friday, November 15th,Wall Street Journal reports. Investors of record on Tuesday, November 26th will be given a dividend of 0.24 per share on Tuesday, December 3rd. This represents a $0.96 annualized dividend and a yield of 2.02%. The ex-dividend date is Tuesday, November 26th.

Equitable has increased its dividend payment by an average of 9.2% per year over the last three years. Equitable has a dividend payout ratio of 13.3% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Equitable to earn $7.19 per share next year, which means the company should continue to be able to cover its $0.96 annual dividend with an expected future payout ratio of 13.4%.

Equitable Stock Up 1.8 %

EQH opened at $47.62 on Friday. The stock has a market capitalization of $14.92 billion, a price-to-earnings ratio of -43.69 and a beta of 1.40. Equitable has a 12 month low of $28.86 and a 12 month high of $50.51. The company has a debt-to-equity ratio of 1.63, a current ratio of 0.12 and a quick ratio of 0.12. The business has a 50-day moving average of $44.72 and a two-hundred day moving average of $42.13.

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

Analyst Ratings Changes

Several equities research analysts have commented on the company. Truist Financial upped their price target on Equitable from $44.00 to $52.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Wells Fargo & Company boosted their target price on Equitable from $43.00 to $47.00 and gave the stock an “overweight” rating in a report on Thursday, October 10th. Morgan Stanley cut their price target on shares of Equitable from $48.00 to $46.00 and set an “overweight” rating on the stock in a report on Monday, August 19th. Finally, Barclays increased their price objective on shares of Equitable from $59.00 to $60.00 and gave the stock an “overweight” rating in a research report 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’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $48.70.

Insider Transactions at Equitable

In other news, CEO Mark Pearson sold 30,000 shares of Equitable 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 of the company’s stock, valued at approximately $30,760,963.65. The trade was a 4.42 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Jeffrey J. Hurd sold 6,666 shares of the stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $47.53, for a total value of $316,834.98. Following the completion of the transaction, the chief operating officer now directly owns 105,246 shares of the company’s stock, valued at $5,002,342.38. This represents a 5.96 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 130,166 shares of company stock valued at $5,709,605. Corporate insiders own 1.10% of the company’s stock.

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.