Microvast Holdings announces departure of chief financial officer
Craig MacKay, a director at Equitable Holdings, Inc. (NYSE:EQH), has reported the sale of 1,000 shares of common stock. The shares were sold at an average price of $46.4094, amounting to a total transaction value of $46,409. Following this sale, MacKay retains ownership of 14,906 shares in the company. The transaction was executed on November 19, 2024, and was disclosed in a recent SEC filing.
In other recent news, Athene Holding (NYSE:ATH) Ltd., a retirement savings products provider, disclosed its third-quarter financial results for the period ending September 30, 2024. The details, available on the company's website, were also furnished to the Securities and Exchange Commission (SEC) in a Form 8-K filing. 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.
Equally, Equitable Holdings, Inc., a prominent financial services company, reported a significant increase in its third-quarter non-GAAP operating earnings. The company recorded a 34% year-over-year rise to $501 million, or $1.53 per share, and its adjusted non-GAAP EPS was $1.59, reflecting a 22% increase. Assets under management surpassed $1 trillion, marking a 20% growth from the previous year.
These are among the recent developments in both companies. It's worth noting that investors and analysts typically scrutinize third-quarter financial results to gauge a company's performance as they enter the final quarter of the fiscal year. Therefore, the disclosures from both Athene and Equitable provide essential insights into their financial health and operational outcomes.
InvestingPro Insights
While Craig MacKay's recent sale of Equitable Holdings shares might raise eyebrows, it's essential to consider the broader financial picture of the company. According to InvestingPro data, Equitable Holdings boasts a substantial market capitalization of $14.64 billion, indicating its significant presence in the financial services sector.
One of the standout InvestingPro Tips reveals that Equitable Holdings has raised its dividend for seven consecutive years, demonstrating a commitment to returning value to shareholders. This consistent dividend growth, coupled with a current dividend yield of 2.04%, may appeal to income-focused investors despite the insider sale.
Moreover, the company's stock has shown remarkable performance, with a one-year price total return of 70.45% as of the latest data. This impressive gain suggests strong market confidence in Equitable's business model and future prospects.
It's worth noting that while the company faces challenges with weak gross profit margins, as highlighted by another InvestingPro Tip, analysts predict that Equitable Holdings will be profitable this year. This forecast, combined with the company's liquid assets exceeding short-term obligations, paints a picture of financial stability amidst market volatility.
For investors seeking a more comprehensive analysis, InvestingPro offers additional tips and insights that could provide a deeper understanding of Equitable Holdings' financial health and market position.
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