Equitable Holdings, Inc. (NYSE:EQH) Declares Quarterly Dividend of $0.24

Equitable Holdings, Inc. (NYSE:EQH) declared a quarterly dividend on Friday, November 15th,Wall Street Journal reports. Shareholders of record on Tuesday, November 26th will be given a dividend of 0.24 per share on Tuesday, December 3rd. This represents a $0.96 annualized dividend and a yield of 2.02%. The ex-dividend date of this dividend is Tuesday, November 26th.

Equitable has increased its dividend by an average of 9.2% per year over the last three years. Equitable has a payout ratio of 13.3% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Equitable to earn $7.19 per share next year, which means the company should continue to be able to cover its $0.96 annual dividend with an expected future payout ratio of 13.4%.

Equitable Trading Up 1.8 %

Shares of EQH opened at $47.62 on Monday. Equitable has a 12 month low of $28.86 and a 12 month high of $50.51. The stock has a fifty day moving average price of $44.72 and a 200-day moving average price of $42.15. The company has a current ratio of 0.12, a quick ratio of 0.12 and a debt-to-equity ratio of 1.63.

Equitable (NYSE:EQH) last issued its quarterly earnings results on Monday, November 4th. The company reported $1.53 earnings per share for the quarter, hitting the consensus estimate of $1.53. Equitable had a positive return on equity of 76.47% and a negative net margin of 2.64%. The business had revenue of $3.08 billion during the quarter, compared to the consensus estimate of $3.78 billion. During the same quarter last year, the company earned $1.15 earnings per share. The company’s quarterly revenue was down 15.1% on a year-over-year basis. On average, research analysts expect that Equitable will post 6.05 earnings per share for the current year.

Insider Buying and Selling at Equitable

In related news, COO Jeffrey J. Hurd sold 6,666 shares of the firm’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $47.53, for a total transaction of $316,834.98. Following the sale, the chief operating officer now directly owns 105,246 shares of the company’s stock, valued at $5,002,342.38. This trade represents a 5.96 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Mark Pearson sold 30,000 shares of the business’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $40.78, for a total value of $1,223,400.00. Following the completion of the transaction, the chief executive officer now directly owns 668,555 shares of the company’s stock, valued at $27,263,672.90. The trade was a 4.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 130,166 shares of company stock worth $5,709,605. Insiders own 1.10% of the company’s stock.

Analysts Set New Price Targets

Several analysts have weighed in on EQH shares. Wells Fargo & Company boosted their target price on shares of Equitable from $43.00 to $47.00 and gave the stock an “overweight” rating in a research report on Thursday, October 10th. Truist Financial boosted their price objective on shares of Equitable from $44.00 to $52.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Barclays raised their target price on Equitable from $59.00 to $60.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 8th. Finally, Morgan Stanley dropped their price target on Equitable from $48.00 to $46.00 and set an “overweight” rating on the stock in a research note on Monday, August 19th. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $48.70.

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.