Equitable Holdings, Inc. (NYSE:EQH) to Issue $0.27 Quarterly Dividend

Equitable Holdings, Inc. (NYSE:EQH) announced a quarterly dividend on Wednesday, November 12th. Shareholders of record on Monday, November 24th will be given a dividend of 0.27 per share on Monday, December 1st. This represents a c) dividend on an annualized basis and a yield of 2.4%. The ex-dividend date is Monday, November 24th.

Equitable has raised its dividend payment by an average of 0.1%annually over the last three years and has increased its dividend annually for the last 2 consecutive years. Equitable has a dividend payout ratio of 13.3% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Equitable to earn $8.29 per share next year, which means the company should continue to be able to cover its $1.08 annual dividend with an expected future payout ratio of 13.0%.

Equitable Stock Up 1.4%

NYSE EQH opened at $45.51 on Thursday. Equitable has a 12 month low of $41.39 and a 12 month high of $56.61. The company has a current ratio of 0.13, a quick ratio of 0.14 and a debt-to-equity ratio of 11.87. The stock has a market cap of $13.04 billion, a PE ratio of -16.49 and a beta of 1.17. The stock’s 50 day moving average is $50.11 and its 200 day moving average is $51.92.

Equitable (NYSE:EQH) last released its quarterly earnings data on Tuesday, November 4th. The company reported $1.48 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.59 by ($0.11). Equitable had a negative net margin of 5.80% and a positive return on equity of 107.71%. The company had revenue of $1.45 billion for the quarter, compared to the consensus estimate of $3.65 billion. During the same quarter in the previous year, the business earned $1.58 EPS. The company’s quarterly revenue was down 52.8% on a year-over-year basis. Research analysts predict that Equitable will post 7.33 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Bertram L. Scott sold 2,600 shares of Equitable stock in a transaction that occurred on Thursday, August 21st. The stock was sold at an average price of $51.86, for a total value of $134,836.00. Following the completion of the transaction, the director owned 26,001 shares in the company, valued at approximately $1,348,411.86. The trade was a 9.09% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Mark Pearson sold 39,700 shares of the business’s stock in a transaction that occurred on Monday, October 20th. The shares were sold at an average price of $48.17, for a total value of $1,912,349.00. Following the transaction, the chief executive officer directly owned 689,040 shares in the company, valued at approximately $33,191,056.80. This represents a 5.45% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 178,958 shares of company stock valued at $9,362,262 over the last quarter. Company insiders own 1.10% of the company’s stock.

Institutional Investors Weigh In On Equitable

Several institutional investors have recently made changes to their positions in EQH. Atlas Capital Advisors Inc. raised its stake in shares of Equitable by 310.2% during the first quarter. Atlas Capital Advisors Inc. now owns 17,349 shares of the company’s stock valued at $904,000 after acquiring an additional 13,120 shares in the last quarter. Nordea Investment Management AB raised its position in Equitable by 18.3% during the 2nd quarter. Nordea Investment Management AB now owns 3,985,846 shares of the company’s stock valued at $223,168,000 after purchasing an additional 615,314 shares in the last quarter. Pinnacle Associates Ltd. raised its position in Equitable by 53.9% during the 2nd quarter. Pinnacle Associates Ltd. now owns 17,315 shares of the company’s stock valued at $971,000 after purchasing an additional 6,065 shares in the last quarter. Assetmark Inc. lifted its holdings in shares of Equitable by 3,555.3% in the 2nd quarter. Assetmark Inc. now owns 21,932 shares of the company’s stock worth $1,230,000 after buying an additional 21,332 shares during the period. Finally, Cullen Frost Bankers Inc. bought a new position in shares of Equitable during the 2nd quarter worth $73,000. Institutional investors own 92.70% of the company’s stock.

About Equitable

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.