Insider Selling: Equitable Holdings, Inc. (NYSE:EQH) CEO Sells 30,000 Shares of Stock

Equitable Holdings, Inc. (NYSE:EQH) CEO Mark Pearson sold 30,000 shares of the business’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $47.43, for a total value of $1,422,900.00. Following the completion of the transaction, the chief executive officer now owns 648,555 shares of the company’s stock, valued at $30,760,963.65. This trade represents a 4.42 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through 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 shares were 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 value of $1,223,400.00.
• 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 transaction of $1,266,000.00.

Equitable Stock Performance

Shares of EQH opened at $46.61 on Wednesday. The firm has a market capitalization of $14.60 billion, a PE ratio of -42.76 and a beta of 1.40. 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 firm has a 50-day moving average price of $44.26 and a 200 day moving average price of $41.99. Equitable Holdings, Inc. has a 52-week low of $28.02 and a 52-week high of $50.51.

Equitable (NYSE:EQH) last posted its quarterly earnings data on Monday, November 4th. The company reported $1.53 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.53. The business had revenue of $3.08 billion during 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 was down 15.1% on a year-over-year basis. During the same period last year, the firm posted $1.15 earnings per share. On average, sell-side analysts anticipate that Equitable Holdings, Inc. will post 6.03 earnings per share for the current fiscal year.

Equitable Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 3rd. Investors of record on Tuesday, November 26th will be paid a dividend of $0.24 per share. The ex-dividend date of this dividend is Tuesday, November 26th. This represents a $0.96 annualized dividend and a yield of 2.06%. Equitable’s dividend payout ratio is currently -88.07%.

Analyst Ratings Changes

EQH has been the topic of several analyst reports. Citigroup raised their target price on Equitable from $41.00 to $53.00 and gave the company a “buy” rating in a report on Tuesday, July 23rd. Barclays increased their price target 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. Morgan Stanley decreased their price objective 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. Truist Financial upped their target price on Equitable from $44.00 to $52.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Finally, Wells Fargo & Company increased their price objective on shares of Equitable from $43.00 to $47.00 and gave the stock an “overweight” rating in a report on Thursday, October 10th. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $48.70.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of EQH. Covestor Ltd lifted its stake in Equitable by 61.5% during the third quarter. Covestor Ltd now owns 646 shares of the company’s stock valued at $27,000 after purchasing an additional 246 shares during the last quarter. New Covenant Trust Company N.A. bought a new stake in shares of Equitable during the 1st quarter worth $28,000. LRI Investments LLC acquired a new position in shares of Equitable in the 1st quarter worth $45,000. Carolina Wealth Advisors LLC acquired a new stake in shares of Equitable during the third quarter worth $48,000. Finally, UMB Bank n.a. lifted its stake in Equitable by 86.3% during the third quarter. UMB Bank n.a. now owns 1,550 shares of the company’s stock valued at $65,000 after buying an additional 718 shares in the last quarter. 92.70% of the stock is owned by institutional investors and hedge funds.

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.