Equitable Group (TSE:EQB) Hits New 1-Year High Following Dividend Announcement
Equitable Group Inc. (TSE:EQB)’s share price hit a new 52-week high during mid-day trading on Friday after the company announced a dividend. The company traded as high as C$102.95 and last traded at C$102.95, with a volume of 12194 shares traded. The stock had previously closed at C$99.60.
The newly announced dividend which will be paid on Monday, September 30th. Investors of record on Monday, September 30th will be paid a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 1.29%. The ex-dividend date of this dividend is Thursday, September 12th. This is an increase from Equitable Group’s previous quarterly dividend of $0.31. Equitable Group’s dividend payout ratio (DPR) is 10.83%.
Several brokerages recently issued reports on EQB. Royal Bank of Canada lifted their target price on Equitable Group from C$96.00 to C$106.00 and gave the company an “outperform” rating in a research note on Wednesday, July 31st. TD Securities lifted their target price on Equitable Group from C$88.00 to C$98.00 and gave the stock a “hold” rating in a report on Thursday, August 1st. BMO Capital Markets raised their price target on Equitable Group from C$90.00 to C$105.00 in a research note on Thursday, August 1st. National Bank Financial raised their price target on Equitable Group from C$88.00 to C$90.00 and gave the stock a “sector perform” rating in a research note on Wednesday, July 31st. Finally, CIBC lifted their target price on Equitable Group from C$94.00 to C$97.00 in a research report on Tuesday, July 30th.
In other news, Senior Officer Timothy James Wilson sold 2,000 shares of the stock in a transaction on Thursday, June 27th. The stock was sold at an average price of C$72.70, for a total value of C$145,400.00. Following the sale, the insider now directly owns 23,540 shares in the company, valued at C$1,711,358. Also, Director Kimberly Kukulowicz sold 3,174 shares of the stock in a transaction on Friday, September 6th. The shares were sold at an average price of C$100.18, for a total value of C$317,971.32. Following the completion of the sale, the director now owns 1,063 shares in the company, valued at C$106,491.34. Insiders sold a total of 20,729 shares of company stock valued at $1,886,915 in the last ninety days.
Equitable Group Company Profile (TSE:EQB)
Equitable Group Inc, through its subsidiary, Equitable Bank, provides various financial services to retail and commercial customers in Canada. The company accepts term deposits and guaranteed investment certificates (GICs), high interest savings accounts (HISAs), tax-free savings accounts, and institutional deposit notes.
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