Equitable Holdings Inc (NYSE:EQH) announced a quarterly dividend on Wednesday, May 20th, Zacks reports. Stockholders of record on Monday, June 1st will be given a dividend of 0.17 per share on Tuesday, June 9th. This represents a $0.68 annualized dividend and a dividend yield of 3.86%. The ex-dividend date is Friday, May 29th. This is a boost from Equitable’s previous quarterly dividend of $0.15.
Equitable has a dividend payout ratio of 14.1% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Equitable to earn $4.82 per share next year, which means the company should continue to be able to cover its $0.60 annual dividend with an expected future payout ratio of 12.4%.
Shares of EQH stock traded down $0.40 on Friday, hitting $17.61. The stock had a trading volume of 222,786 shares, compared to its average volume of 3,213,157. The firm has a market capitalization of $8.11 billion, a price-to-earnings ratio of 1.87, a P/E/G ratio of 0.73 and a beta of 1.79. The stock’s 50 day moving average is $16.17 and its 200-day moving average is $21.26. Equitable has a 52-week low of $9.89 and a 52-week high of $27.30.
Several research analysts have recently weighed in on EQH shares. Wells Fargo & Co upped their target price on shares of Equitable from $21.00 to $23.00 and gave the company an “overweight” rating in a research note on Tuesday, April 28th. Zacks Investment Research upgraded shares of Equitable from a “sell” rating to a “hold” rating in a research note on Tuesday. SunTrust Banks reduced their price objective on shares of Equitable from $27.00 to $24.00 and set a “buy” rating on the stock in a research note on Wednesday, May 13th. ValuEngine downgraded shares of Equitable from a “sell” rating to a “strong sell” rating in a research note on Wednesday, April 29th. Finally, Citigroup upgraded shares of Equitable from a “neutral” rating to a “buy” rating and reduced their price objective for the company from $18.00 to $17.00 in a research note on Friday, April 17th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and six have issued a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $22.75.
In other Equitable news, CEO Mark Pearson bought 14,000 shares of the company’s stock in a transaction on Thursday, March 12th. The shares were bought at an average cost of $14.17 per share, with a total value of $198,380.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Nick Lane bought 4,100 shares of the company’s stock in a transaction on Friday, March 6th. The shares were acquired at an average cost of $15.38 per share, for a total transaction of $63,058.00. Insiders have acquired 59,475 shares of company stock worth $868,606 over the last three months. 0.40% of the stock is owned by corporate insiders.
Equitable Company Profile
Equitable Holdings, Inc operates as a diversified financial services company worldwide. It operates through four segments: Individual Retirement, Group Retirement, Investment Management and Research, and Protection Solutions. The Individual Retirement segment offers a suite of variable annuity products primarily to affluent and high net worth individuals.
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