Equitable Holdings, Inc. (NYSE:EQH) Announces 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% meaning 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 Stock Performance

EQH opened at $47.62 on Friday. The company has a current ratio of 0.12, a quick ratio of 0.12 and a debt-to-equity ratio of 1.63. The business’s 50 day moving average is $44.72 and its 200-day moving average is $42.13. The stock has a market cap of $14.92 billion, a PE ratio of -43.69 and a beta of 1.40. Equitable has a twelve month low of $28.86 and a twelve month high of $50.51.

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

Wall Street Analyst Weigh In

A number of research firms have commented on EQH. Wells Fargo & Company boosted their price target 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. Barclays boosted their target price on Equitable from $59.00 to $60.00 and gave the stock an “overweight” rating in a report on Tuesday, October 8th. Morgan Stanley decreased their price target on Equitable from $48.00 to $46.00 and set an “overweight” rating for the company in a research note on Monday, August 19th. Finally, Truist Financial boosted their price objective on Equitable from $44.00 to $52.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $48.70.

Insider Buying and Selling

In related news, CAO William James Iv Eckert sold 3,500 shares of the firm’s stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $42.42, for a total value of $148,470.00. Following the completion of the transaction, the chief accounting officer now owns 19,321 shares of the company’s stock, valued at approximately $819,596.82. This trade represents a 15.34 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, 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 transaction, the chief executive officer now owns 668,555 shares in the company, valued at approximately $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. Insiders have sold 130,166 shares of company stock worth $5,709,605 in the last three months. 1.10% of the stock is currently owned by insiders.

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.