Equitable Holdings, Inc. (NYSE:EQH) announced a quarterly dividend on Thursday, November 18th, Zacks reports. Investors of record on Monday, November 29th will be paid a dividend of 0.18 per share on Monday, December 6th. This represents a $0.72 annualized dividend and a dividend yield of 2.13%. The ex-dividend date is Friday, November 26th.
Equitable has a payout ratio of 11.1% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Equitable to earn $6.38 per share next year, which means the company should continue to be able to cover its $0.72 annual dividend with an expected future payout ratio of 11.3%.
Shares of NYSE:EQH opened at $33.78 on Thursday. The company has a market cap of $13.67 billion, a P/E ratio of 3.19 and a beta of 1.65. Equitable has a one year low of $24.56 and a one year high of $36.09. The business’s 50-day simple moving average is $32.35 and its 200 day simple moving average is $31.47.
Several research firms have issued reports on EQH. Zacks Investment Research upgraded Equitable from a “sell” rating to a “hold” rating in a report on Monday, October 18th. Morgan Stanley lifted their target price on Equitable from $45.00 to $46.00 and gave the stock an “overweight” rating in a research report on Thursday, August 5th. Finally, TheStreet upgraded Equitable from a “c” rating to a “b-” rating in a research report on Tuesday, October 19th. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $40.40.
In other news, Director Charles G.T. Stonehill sold 4,844 shares of Equitable stock in a transaction on Monday, November 8th. The stock was sold at an average price of $35.46, for a total transaction of $171,768.24. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Mark Pearson sold 15,000 shares of the business’s stock in a transaction dated Monday, November 1st. The shares were sold at an average price of $33.95, for a total value of $509,250.00. The disclosure for this sale can be found here. Insiders sold a total of 34,844 shares of company stock worth $1,131,318 in the last three months. Company insiders own 0.15% of the company’s stock.
A hedge fund recently raised its stake in Equitable stock. Morgan Stanley lifted its stake in shares of Equitable Holdings, Inc. (NYSE:EQH) by 56.7% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,383,749 shares of the company’s stock after acquiring an additional 862,470 shares during the quarter. Morgan Stanley owned about 0.58% of Equitable worth $72,585,000 as of its most recent filing with the SEC. 94.57% of the stock is currently owned by institutional investors.
Equitable Holdings, Inc is a financial services company in the U.S. and is comprised of two complementary and well-established principal franchises, AXA Equitable Life Insurance Company and AllianceBernstein. Its mission is to help clients secure their financial well-being. The company was founded by Henry B.
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