Equitable Holdings, Inc. (NYSE:EQH) President and CEO Mark Pearson has recently sold a significant amount of company stock, according to a new SEC filing. The series of transactions, which took place on April 15, involved the sale of 24,000 shares of Equitable Holdings common stock, netting a total of approximately $1,087,119.
The sales were executed at varying prices, with a range between $36.0554 and $36.933 per share. Specifically, 15,800 shares were sold at a weighted average price of $36.0554, while 4,200 shares were disposed of at an average of $36.9130. In a separate transaction, 8,046 shares were sold at approximately $36.0729 each. The final sale included 1,954 shares at a weighted average price of $36.9330.
In addition to the stock sales, Pearson exercised options to acquire 20,000 shares of common stock at a price of $21.34 per share, amounting to a total transaction value of $426,800. The exercised options are part of an employee stock option plan and are not included in the total sales figure.
Following these transactions, Pearson's holdings in Equitable Holdings have been adjusted, though the filing indicates that restricted stock units are also included in the reported amounts.
These transactions were carried out under a Rule 10b5-1 trading plan, which Pearson had adopted on February 13, 2023. Such plans allow company insiders to establish pre-arranged plans to buy or sell stock at a future date, providing a defense against potential accusations of insider trading.
Investors and shareholders of Equitable Holdings may take an interest in these transactions as they represent significant activity by the company's President and CEO. The stock sales and option exercises are disclosed in accordance with SEC regulations, providing transparency into the trading activities of corporate executives.
InvestingPro Insights
As Equitable Holdings' CEO Mark Pearson engages in substantial stock transactions, it's worth noting the broader financial context of the company through key metrics and InvestingPro Tips. With a market capitalization of $11.72 billion and a P/E ratio standing at 10.23, reflecting the last twelve months as of Q4 2023, Equitable Holdings presents a mixed financial picture. The company's Price/Book multiple of 10.8, as of the same period, indicates a valuation that may be considered high relative to the book value of its assets.
InvestingPro Tips highlight that management has been actively repurchasing shares, signaling confidence in the company's value. Additionally, Equitable Holdings has a record of raising its dividend for six consecutive years, which may appeal to income-focused investors. The company's ability to consistently increase dividends suggests a stable financial position and a commitment to returning value to shareholders.
InvestingPro Data further reveals a robust 54.19% return on the price over the last year and a significant 36.24% price uptick over the past six months. These figures suggest a strong recent performance in the market, which could be of interest to potential investors considering the company's stock. The dividend yield, as of the beginning of April 2024, stands at 2.33%, coupled with a dividend growth of 10.0% over the last twelve months, underscoring the company's shareholder-friendly practices.
For those interested in delving deeper into Equitable Holdings' financials and future prospects, additional InvestingPro Tips are available. With a total of 9 tips provided on the platform, investors can gain a more comprehensive understanding of the company's strategic moves and market position. To access these insights and more, use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
As the next earnings date approaches on April 30, 2024, investors will be watching closely to see how these metrics and management actions translate into financial performance and strategic direction for Equitable Holdings.
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