Microvast Holdings announces departure of chief financial officer
In a recent transaction, Jeffrey J. Hurd, Chief Operating Officer of Equitable Holdings, Inc. (NYSE:EQH), sold 6,666 shares of the company's common stock. The shares were sold at a weighted average price of $54.6471, totaling approximately $364,277. This sale was executed under a pre-established Rule 10b5-1 trading plan, which Hurd adopted on August 7, 2024. The transaction comes as EQH trades near its 52-week high of $52.04, with the stock delivering an impressive 63% return over the past year. According to InvestingPro analysis, while management has been actively buying back shares, the stock appears slightly undervalued based on Fair Value calculations.
Following this transaction, Hurd retains 92,209.49 shares, including Restricted Stock Units, in direct ownership. The sale was carried out in multiple trades, with prices ranging from $51.0800 to $52.0400. With a market capitalization of $16.15 billion, EQH shows strong momentum, and InvestingPro subscribers can access 10+ additional exclusive insights and detailed valuation metrics in the Pro Research Report.
In other recent news, Equitable Holdings Inc. has reported substantial growth in its Q3 non-GAAP operating earnings, with a year-over-year increase of 34% to $501 million. Assets under management have seen a 20% growth from the previous year, exceeding $1 trillion. These developments are part of the company's strategic initiatives, which include partnerships and product offerings aimed at the U.S. retirement market.
Equitable Holdings has also announced the addition of Douglas Dachille to its Board of Directors. The move is in line with corporate governance requirements for director independence and is expected to bring valuable insight to the company's leadership. Dachille's qualifications meet the independence standards set by the New York Stock Exchange and Rule 10A-3 under the Securities Exchange Act of 1934.
Deutsche Bank (ETR:DBKGn) has upgraded Equitable Holdings from Hold to Buy, citing the company's dominant position in the growing Registered Index-Linked Annuity (RILA) market and its robust capital situation. The upgrade reflects confidence in Equitable Holdings' prospects within the financial industry.
In parallel developments, Athene Holding (NYSE:ATH) Ltd. has disclosed its third-quarter financial results, providing essential insights into its financial health. The company's executive vice president and chief financial officer, Martin P. Klein, signed off on the report, underscoring the formal presentation of the financial results to the market and regulatory bodies.
These are some of the recent developments that have shaped the course of Equitable Holdings and Athene Holding Ltd . The companies continue to make significant strides in their respective markets.
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