Mark Pearson, the President and CEO of Equitable Holdings, Inc. (NYSE:EQH), recently executed a series of stock transactions involving the company's common shares. According to a Form 4 filing with the Securities and Exchange Commission, Pearson sold a total of 30,000 shares on October 15. The transactions were completed at prices ranging from $44.398 to $44.3995 per share, totaling approximately $1.33 million.
In addition to the stock sales, Pearson also exercised options to acquire 20,000 shares at a price of $21.34 per share, amounting to a total value of $426,800. These transactions were part of a pre-established trading plan under Rule 10b5-1, adopted earlier this year.
Following these transactions, Pearson holds 658,554.53 shares of Equitable Holdings, including restricted stock units. The transactions reflect ongoing activity under the company's 2019 Omnibus Incentive Plan.
In other recent news, AXA Equitable Holdings Inc . has experienced significant developments. Barclays initiated coverage on the company, assigning an Overweight rating and setting a price target of $59.00. This rating is based on AXA Equitable's shift towards more capital-efficient products, robust capital position, and promising growth prospects in spread-based products.
In addition to Barclays' positive outlook, AXA Equitable Holdings has reported strong earnings in the recent quarter. The company's non-GAAP operating earnings rose 23% year-over-year to $494 million, and assets under management and administration saw an 11% increase, reaching $986 billion. Equitable Holdings also returned $325 million to shareholders in Q2 and projected to generate between $1.4 and $1.5 billion in cash by 2024.
Furthermore, the company is actively exploring additional partnerships similar to those with AB and BlackRock (NYSE:BLK). This move is part of the company's future plans, which also include achieving 12-15% annual EPS growth through 2027, reducing mortality volatility, and improving returns in its protection business. These recent developments underscore AXA Equitable's commitment to growth and shareholder value.
InvestingPro Insights
The recent stock transactions by Equitable Holdings' CEO Mark Pearson come at a time when the company's financial metrics and market performance are showing strength. According to InvestingPro data, Equitable Holdings has a market capitalization of $14.13 billion and is trading near its 52-week high, with the stock price at 99.58% of its peak. This aligns with an InvestingPro Tip indicating that EQH has seen a "large price uptick over the last six months," with a total return of 25.3% during that period.
The company's financial health appears robust, with an InvestingPro Tip highlighting that "liquid assets exceed short-term obligations." This financial stability is further supported by the company's dividend policy. EQH has raised its dividend for 6 consecutive years, demonstrating a commitment to shareholder returns. The current dividend yield stands at 2.18%, with a notable dividend growth of 9.09% over the last twelve months.
Equitable Holdings' profitability is also worth noting. The company has been profitable over the last twelve months, with a P/E ratio of 17.06, suggesting a reasonable valuation relative to earnings. Revenue growth has been strong, with a 47.67% increase in the most recent quarter compared to the same period last year.
For investors seeking more comprehensive analysis, InvestingPro offers additional insights with 11 more tips available for Equitable Holdings. These tips could provide valuable context for understanding the company's recent executive transactions and overall market position.
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