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 business’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $40.78, for a total transaction of $1,223,400.00. Following the sale, the chief executive officer now directly owns 668,555 shares of the company’s stock, valued at approximately $27,263,672.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

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

• On Thursday, August 29th, Mark Pearson sold 30,000 shares of Equitable stock. The shares were sold at an average price of $42.20, for a total value of $1,266,000.00.

Equitable Stock Performance

Shares of Equitable stock opened at $41.36 on Thursday. The firm’s 50-day simple moving average is $40.90 and its 200-day simple moving average is $39.38. Equitable Holdings, Inc. has a 1 year low of $24.65 and a 1 year high of $44.50. The firm has a market cap of $13.45 billion, a PE ratio of 12.80 and a beta of 1.42. The company has a debt-to-equity ratio of 3.06, a quick ratio of 0.12 and a current ratio of 0.12.

Equitable (NYSE:EQH) last released its quarterly earnings data on Tuesday, July 30th. The company reported $1.43 earnings per share for the quarter, topping the consensus estimate of $1.40 by $0.03. Equitable had a net margin of 7.87% and a return on equity of 87.49%. The firm had revenue of $3.51 billion for the quarter, compared to analyst estimates of $3.71 billion. During the same quarter in the prior year, the business earned $1.17 earnings per share. Equitable’s quarterly revenue was up 47.7% on a year-over-year basis. Equities analysts forecast that Equitable Holdings, Inc. will post 6.01 earnings per share for the current fiscal year.

Equitable Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, August 13th. Investors of record on Tuesday, August 6th were issued a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 2.32%. The ex-dividend date was Tuesday, August 6th. Equitable’s dividend payout ratio (DPR) is 29.72%.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the stock. Truist Financial Corp boosted its holdings in shares of Equitable by 9.5% during the fourth quarter. Truist Financial Corp now owns 7,888 shares of the company’s stock valued at $263,000 after acquiring an additional 684 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. grew its position in Equitable by 6.2% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 168,559 shares of the company’s stock worth $5,466,000 after purchasing an additional 9,766 shares during the last quarter. Quadrant Capital Group LLC increased its stake in shares of Equitable by 261.3% in the fourth quarter. Quadrant Capital Group LLC now owns 2,269 shares of the company’s stock valued at $76,000 after purchasing an additional 1,641 shares during the period. Securian Asset Management Inc. bought a new stake in shares of Equitable during the fourth quarter valued at approximately $894,000. Finally, Norges Bank acquired a new position in shares of Equitable during the fourth quarter worth approximately $606,630,000. 92.70% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on EQH shares. UBS Group downgraded Equitable from a “buy” rating to a “neutral” rating and lifted their target price for the company from $40.00 to $43.00 in a research report on Tuesday, June 18th. JPMorgan Chase & Co. lifted their target price on Equitable from $36.00 to $45.00 and gave the company a “neutral” rating in a report on Tuesday, July 2nd. Morgan Stanley lowered their price target on shares of Equitable from $48.00 to $46.00 and set an “overweight” rating for the company in a report on Monday, August 19th. Jefferies Financial Group upped their price target on Equitable from $46.00 to $51.00 and gave the company a “buy” rating in a report on Friday, June 28th. Finally, Truist Financial raised their price objective on Equitable from $44.00 to $52.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Four research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, Equitable presently has an average rating of “Moderate Buy” and a consensus target price of $46.64.

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.