© Reuters.
Equitable Holdings (NYSE:) Series A Preferred Stock (EQH.PRA) outperformed the financial sector average yield of 7.13% on Monday, providing a better than 7% yield based on its annualized quarterly dividend of $1.3125 and a minimum share price of $18.75. This performance contrasts markedly with the sector average, highlighting the solid performance of EQH.PRA.
The preferred stock closed trading at a 23.88% discount to its liquidation preference amount, a notable departure from the category’s average discount of 14.89%. This suggests that investors are pricing in higher risk for EQH.PRA compared to other financial sector preferred stocks.
EQH.PRA is non-cumulative, meaning there is no obligation to pay any missing dividends before ordinary dividends resume. This feature differentiates them from cumulative preferred stock, where omitted dividends must be paid before common shareholders receive dividends.
On Monday, the value of EQH.PRA decreased slightly by 0.2%, a minimal drop compared to Equitable common stock (EQH), which saw a more substantial drop of 4.1%. Despite the drop in value, EQH.PRA’s performance remained competitive within the financial sector.
The historical dividend payout chart for EQH.PRA provided more information about the stock’s past performance, although no specific details were revealed in the context provided.
InvestingPro Insights
In light of the recent performance of Equitable Holdings Series A Preferred Stock (EQH.PRA), InvestingPro provides some interesting data and advice. According to data from InvestingPro, the company has a market capitalization of $9.02 billion and a P/E ratio of 5.91 in the third quarter of 2023. Notably, the company had revenue of $11.91 billion and a profit gross of 3,746 million dollars during the same period.
Two key tips from InvestingPro are particularly relevant. First, EQH’s management has been aggressively buying back shares, which may be a positive sign for investors as it indicates management’s confidence in the company’s undervaluation. Second, EQH produces a high return on invested capital, a metric that measures how well a company is using its capital to generate profits.
It is important to note that these are just two of the many valuable tips available at InvestingPro. For more information and advice, consider exploring InvestingPro’s comprehensive platform.
This article was generated with the support of ai and reviewed by an editor. For more information consult our T&C.
