Mark Pearson (LON:PSON), the President and CEO of Equitable Holdings, Inc. (NYSE:NYSE:EQH), recently executed a series of stock transactions, according to a filing with the Securities and Exchange Commission. On November 15, Pearson sold a total of 30,000 shares of Equitable Holdings common stock. The sales were completed at an average price range between $47.4259 and $47.4298 per share, resulting in total proceeds of approximately $1,422,816.
In addition to the sales, Pearson exercised options to acquire 20,000 shares of common stock at a price of $21.34 per share. This transaction was part of a previously adopted Rule 10b5-1 trading plan, which allows insiders to set up a predetermined plan for selling stocks.
Following these transactions, Pearson's direct ownership in the company stands at 648,554.53 shares.
In other recent news, Athene Holding (NYSE:ATH) Ltd. has disclosed its third-quarter financial results for the period ending September 30, 2024. The details, furnished to the Securities and Exchange Commission (SEC) in a Form 8-K filing, underscore the company's commitment to transparency and regulatory compliance. The financial results provide essential insights into Athene's financial health and operational outcomes.
Equally important, Equitable Holdings, Inc. reported a significant increase in its third-quarter non-GAAP operating earnings, showing a 34% year-over-year rise to $501 million. The company's adjusted non-GAAP EPS grew by 22% to $1.59, exceeding growth guidance. Assets under management surpassed $1 trillion, marking a 20% increase from the previous year, aided by strategic initiatives, including partnerships and product offerings.
These are among the recent developments for both companies. Equitable Holdings anticipates full-year cash generation at the high end of $1.4 billion to $1.5 billion guidance, targeting $2 billion cash generation by 2027. It also expects a 33% operating margin by 2025, with potential for further expansion. Despite increased competition and surrender activity, the company's strategic focus on retirement solutions and asset management has yielded positive results.
InvestingPro Insights
The recent stock transactions by Equitable Holdings' CEO Mark Pearson come amid a period of strong performance for the company. According to InvestingPro data, Equitable Holdings has seen a remarkable 70.45% price total return over the past year, with the stock currently trading at 93.27% of its 52-week high.
This performance aligns with an InvestingPro Tip indicating that EQH has delivered a "High return over the last year." Additionally, the company has shown a "Strong return over the last three months," with a 15.6% price total return in that period.
Despite these positive indicators, investors should note that Equitable Holdings currently trades at a high Price / Book multiple of 8.9, which may suggest the stock is relatively expensive compared to its book value. This valuation metric is particularly relevant given Pearson's recent stock sales.
It's worth mentioning that management has been aggressively buying back shares, according to another InvestingPro Tip. This strategy, combined with the company's dividend growth of 9.09% over the last twelve months, may signal confidence in the company's financial position and future prospects.
For investors seeking a more comprehensive analysis, InvestingPro offers 10 additional tips for Equitable Holdings, providing a deeper understanding of the company's financial health and market position.
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