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 Equitable stock in a transaction that occurred on 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 completion of the transaction, the chief executive officer now owns 668,555 shares of the company’s stock, valued at approximately $27,263,672.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

NYSE:EQH traded up $0.59 during mid-day trading on Tuesday, reaching $41.37. The stock had a trading volume of 2,009,576 shares, compared to its average volume of 2,535,628. The company has a debt-to-equity ratio of 3.06, a quick ratio of 0.12 and a current ratio of 0.12. The business has a 50 day simple moving average of $40.89 and a 200 day simple moving average of $39.33. Equitable Holdings, Inc. has a twelve month low of $24.65 and a twelve month high of $44.50. The firm has a market capitalization of $13.46 billion, a price-to-earnings ratio of 12.86 and a beta of 1.42.

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

Equitable Dividend Announcement

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

Institutional Investors Weigh In On Equitable

Institutional investors have recently modified their holdings of the company. Norges Bank acquired a new stake in Equitable in the fourth quarter valued at $606,630,000. Hsbc Holdings PLC increased its holdings in Equitable by 1,161.7% during the 4th quarter. Hsbc Holdings PLC now owns 7,849,706 shares of the company’s stock valued at $262,692,000 after acquiring an additional 7,227,568 shares in the last quarter. Acadian Asset Management LLC raised its position in Equitable by 24,432.7% during the second quarter. Acadian Asset Management LLC now owns 3,168,402 shares of the company’s stock worth $129,444,000 after acquiring an additional 3,155,487 shares during the last quarter. Zurich Insurance Group Ltd FI purchased a new stake in shares of Equitable in the second quarter valued at about $110,176,000. Finally, Samlyn Capital LLC acquired a new stake in shares of Equitable in the second quarter valued at approximately $63,334,000. Hedge funds and other institutional investors own 92.70% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. Morgan Stanley lowered their price target on Equitable from $48.00 to $46.00 and set an “overweight” rating for the company in a report on Monday, August 19th. Barclays initiated coverage on shares of Equitable in a research report on Wednesday, September 4th. They issued an “overweight” rating and a $59.00 target price on the stock. Wells Fargo & Company reduced their price target on shares of Equitable from $45.00 to $43.00 and set an “overweight” rating for the company in a research report on Monday, August 12th. JPMorgan Chase & Co. raised their price objective on Equitable from $36.00 to $45.00 and gave the stock a “neutral” rating in a report on Tuesday, July 2nd. Finally, Citigroup upped their target price on Equitable from $41.00 to $53.00 and gave the company a “buy” rating in a research report on Tuesday, July 23rd. Four research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $46.64.

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.