Equitable (NYSE:EQH) Reaches New 12-Month High Following Dividend Announcement

Shares of Equitable Holdings, Inc. (NYSE:EQH - Get Free Report) hit a new 52-week high during mid-day trading on Friday following a dividend announcement from the company. The stock traded as high as $55.50 and last traded at $55.09, with a volume of 339722 shares changing hands. The stock had previously closed at $53.74.

The newly announced dividend which will be paid on Wednesday, March 12th. Stockholders of record on Wednesday, March 5th will be given a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.73%. The ex-dividend date of this dividend is Wednesday, March 5th. Equitable's payout ratio is currently 25.13%.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. Deutsche Bank Aktiengesellschaft raised shares of Equitable from a "hold" rating to a "buy" rating and increased their target price for the company from $47.00 to $58.00 in a research report on Friday, January 10th. Morgan Stanley raised their price objective on Equitable from $60.00 to $61.00 and gave the stock an "overweight" rating in a research report on Friday. Keefe, Bruyette & Woods upped their target price on Equitable from $58.00 to $62.00 and gave the company an "outperform" rating in a research report on Wednesday, February 12th. Barclays increased their price target on Equitable from $60.00 to $61.00 and gave the company an "overweight" rating in a research note on Monday, January 6th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Equitable from $45.00 to $53.00 and gave the company a "neutral" rating in a report on Tuesday, January 7th. Two research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, Equitable currently has a consensus rating of "Moderate Buy" and an average target price of $55.92.

Equitable Trading Up 0.3 %

The company has a debt-to-equity ratio of 3.07, a quick ratio of 0.12 and a current ratio of 0.07. The company has a market cap of $17.39 billion, a price-to-earnings ratio of 14.53 and a beta of 1.39. The company's fifty day moving average is $50.52 and its two-hundred day moving average is $46.03.

Equitable (NYSE:EQH - Get Free Report) last released its quarterly earnings data on Wednesday, February 5th. The company reported $1.57 EPS for the quarter, missing the consensus estimate of $1.65 by ($0.08). Equitable had a net margin of 10.51% and a return on equity of 85.70%. On average, research analysts anticipate that Equitable Holdings, Inc. will post 7.24 EPS for the current year.

Insider Buying and Selling at Equitable

In other news, insider Nick Lane sold 25,000 shares of the firm's stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $45.84, for a total transaction of $1,146,000.00. Following the sale, the insider now owns 141,629 shares of the company's stock, valued at $6,492,273.36. This trade represents a 15.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Mark Pearson sold 30,000 shares of Equitable stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $47.31, for a total transaction of $1,419,300.00. Following the transaction, the chief executive officer now directly owns 639,939 shares of the company's stock, valued at approximately $30,275,514.09. This trade represents a 4.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 125,032 shares of company stock worth $6,165,071. Insiders own 1.10% of the company's stock.

Institutional Investors Weigh In On Equitable

A number of institutional investors have recently modified their holdings of EQH. Assetmark Inc. boosted its position in Equitable by 33.2% during the fourth quarter. Assetmark Inc. now owns 799 shares of the company's stock worth $38,000 after purchasing an additional 199 shares in the last quarter. Atomi Financial Group Inc. increased its holdings in Equitable by 3.3% in the 4th quarter. Atomi Financial Group Inc. now owns 6,577 shares of the company's stock worth $310,000 after acquiring an additional 209 shares in the last quarter. Covestor Ltd raised its position in Equitable by 61.5% during the third quarter. Covestor Ltd now owns 646 shares of the company's stock worth $27,000 after acquiring an additional 246 shares during the period. Truist Financial Corp lifted its holdings in Equitable by 2.8% during the fourth quarter. Truist Financial Corp now owns 9,554 shares of the company's stock valued at $451,000 after purchasing an additional 257 shares in the last quarter. Finally, Jones Financial Companies Lllp grew its position in shares of Equitable by 10.6% in the fourth quarter. Jones Financial Companies Lllp now owns 2,768 shares of the company's stock valued at $131,000 after purchasing an additional 266 shares during the period. 92.70% of the stock is currently owned by institutional investors and hedge funds.

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.