Mark Pearson Sells 30,000 Shares of Equitable Holdings, Inc. (NYSE:EQH) Stock

16 Oct 2024, 20:17 by Jessica Moore · The Cerbat Gem

Equitable Holdings, Inc. (NYSE:EQH – Get Free Report) CEO Mark Pearson sold 30,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $44.40, for a total value of $1,332,000.00. Following the transaction, the chief executive officer now directly owns 658,555 shares of the company’s stock, valued at approximately $29,239,842. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

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 Up 1.1 %

EQH stock traded up $0.47 during mid-day trading on Wednesday, reaching $44.57. The company had a trading volume of 3,143,386 shares, compared to its average volume of 2,510,615. The company has a market capitalization of $14.50 billion, a PE ratio of 13.80 and a beta of 1.41. The firm has a 50 day moving average of $41.34 and a 200 day moving average of $40.38. Equitable Holdings, Inc. has a 12 month low of $24.65 and a 12 month high of $44.76. The company has a debt-to-equity ratio of 3.06, a current ratio of 0.12 and a quick ratio of 0.12.

Equitable (NYSE:EQH – Get Free Report) last announced its quarterly earnings data on Tuesday, July 30th. The company reported $1.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.40 by $0.03. The company had revenue of $3.51 billion for the quarter, compared to analysts’ expectations of $3.71 billion. Equitable had a return on equity of 87.49% and a net margin of 7.87%. Equitable’s revenue was up 47.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.17 earnings per share. On average, equities analysts predict that Equitable Holdings, Inc. will post 6.03 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. Stockholders of record on Tuesday, August 6th were issued a $0.24 dividend. The ex-dividend date of this dividend was Tuesday, August 6th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.15%. Equitable’s dividend payout ratio is presently 29.72%.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on EQH shares. Wells Fargo & Company raised their price target on Equitable from $43.00 to $47.00 and gave the stock an “overweight” rating in a research note on Thursday, October 10th. Jefferies Financial Group raised 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. Morgan Stanley dropped their target price on shares of Equitable from $48.00 to $46.00 and set an “overweight” rating for the company in a research report on Monday, August 19th. Truist Financial upped 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. Finally, UBS Group cut Equitable from a “buy” rating to a “neutral” rating and boosted their price objective for the stock from $40.00 to $43.00 in a research note on Tuesday, June 18th. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $48.70.

View Our Latest Analysis on Equitable

Institutional Trading of Equitable

Institutional investors have recently modified their holdings of the company. New Covenant Trust Company N.A. bought a new position in shares of Equitable during the 1st quarter worth approximately $28,000. LRI Investments LLC acquired a new position in shares of Equitable during the first quarter worth $45,000. Rise Advisors LLC lifted its holdings in shares of Equitable by 1,421.4% during the 1st quarter. Rise Advisors LLC now owns 1,704 shares of the company’s stock valued at $65,000 after purchasing an additional 1,592 shares during the last quarter. UMB Bank n.a. boosted its position in shares of Equitable by 86.3% in 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. Finally, GAMMA Investing LLC grew its stake in Equitable by 26.4% during the 1st quarter. GAMMA Investing LLC now owns 1,939 shares of the company’s stock worth $74,000 after buying an additional 405 shares during the last quarter. 92.70% of the stock is currently owned by institutional investors.

About Equitable

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