Equitable (NYSE:EQH) CEO Sells $2,106,085.00 in Stock

Key Points

• Equitable Holdings CEO Mark Pearson sold 39,700 shares for approximately $2.1 million, reducing his stake by 5.35%.
• The company's stock is currently down 0.9%, with a trading volume of 2,622,357 shares, below the average of 2,809,065 shares.
• Equitable recently announced a quarterly dividend of $0.27 per share, resulting in an annualized yield of 2.1%.

Equitable Holdings, Inc. (NYSE:EQH - Get Free Report) CEO Mark Pearson sold 39,700 shares of the firm's stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $53.05, for a total transaction of $2,106,085.00. Following the sale, the chief executive officer directly owned 703,029 shares of the company's stock, valued at approximately $37,295,688.45. This trade represents a 5.35% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

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

• On Tuesday, July 15th, Mark Pearson sold 30,000 shares of Equitable stock. The stock was sold at an average price of $52.22, for a total transaction of $1,566,600.00.
• On Tuesday, July 15th, Mark Pearson sold 30,000 shares of Equitable stock. The shares were sold at an average price of $52.22, for a total transaction of $1,566,600.00.
• On Monday, June 16th, Mark Pearson sold 30,000 shares of Equitable stock. The shares were sold at an average price of $53.18, for a total transaction of $1,595,400.00.

Equitable Price Performance

EQH stock traded up $1.8850 during mid-day trading on Friday, reaching $53.7550. 1,542,830 shares of the company traded hands, compared to its average volume of 2,799,011. The company has a debt-to-equity ratio of 4.94, a current ratio of 0.14 and a quick ratio of 0.14. The company has a market capitalization of $16.10 billion, a P/E ratio of 43.34 and a beta of 1.14. Equitable Holdings, Inc. has a 52-week low of $37.99 and a 52-week high of $56.61. The company has a fifty day moving average price of $53.09 and a 200-day moving average price of $52.12.

Equitable Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, August 12th. Stockholders of record on Tuesday, August 5th were issued a dividend of $0.27 per share. The ex-dividend date of this dividend was Tuesday, August 5th. This represents a $1.08 annualized dividend and a dividend yield of 2.0%. Equitable's payout ratio is presently 87.10%.

Analyst Ratings Changes

Several research analysts have recently commented on EQH shares. JPMorgan Chase & Co. boosted their price objective on Equitable from $55.00 to $65.00 and gave the stock a "neutral" rating in a report on Tuesday, July 8th. Morgan Stanley cut their price objective on Equitable from $68.00 to $67.00 and set an "overweight" rating for the company in a report on Monday. UBS Group cut their price objective on Equitable from $77.00 to $75.00 and set a "buy" rating for the company in a report on Tuesday, May 27th. Evercore ISI cut their target price on Equitable from $69.00 to $64.00 and set an "outperform" rating for the company in a research note on Thursday, May 1st. Finally, Keefe, Bruyette & Woods upped their target price on Equitable from $63.00 to $64.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 9th. Nine analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $64.90.

Institutional Trading of Equitable

Hedge funds and other institutional investors have recently bought and sold shares of the stock. MV Capital Management Inc. bought a new position in shares of Equitable during the first quarter valued at approximately $26,000. WPG Advisers LLC bought a new position in shares of Equitable during the first quarter valued at approximately $27,000. True Wealth Design LLC raised its holdings in shares of Equitable by 592.6% during the second quarter. True Wealth Design LLC now owns 561 shares of the company's stock valued at $31,000 after acquiring an additional 480 shares in the last quarter. Orion Capital Management LLC bought a new position in shares of Equitable during the first quarter valued at approximately $33,000. Finally, Geneos Wealth Management Inc. raised its holdings in shares of Equitable by 92.6% during the first quarter. Geneos Wealth Management Inc. now owns 882 shares of the company's stock valued at $46,000 after acquiring an additional 424 shares in the last quarter. Institutional investors own 92.70% of the company's stock.

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.