Equitable Holdings (NYSE:) Series A Preferred Stock (EQH.PRA) topped the financial sector average yield of 7.13% on Monday, delivering a yield above 7% based on its annualized quarterly dividend of $1.3125 and a lower stock price of $18.75. This performance contrasts sharply with the sector average, highlighting the good performance of EQH.PRA.
The preferred stock closed trading at a 23.88% discount to its liquidation prime, a notable departure from the category 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 missed dividends before common dividends resume. This feature differentiates it from cumulative preferred stock, where any skipped dividends must be paid before common shareholders receive dividends.
On Monday, EQH.PRA’s value edged down 0.2%, a minimal decline compared to Equitable common stock (EQH), which saw a larger decline of 4.1%. Despite the decline in value, EQH.PRA’s performance remained competitive within the financial sector.
The historical dividend payout chart for EQH.PRA provided additional insight into the stock’s past performance, although specific details were not disclosed in the context provided.
In light of the recent performance of Equitable Holdings Series A Preferred Stock (EQH.PRA), InvestingPro provides useful data and guidance. According to InvestingPro data, the company has a market capitalization of USD 9,020 million and a P/E ratio of 5.91 as of Q3 2023. Notably, the company had revenue of USD 11.91 billion. ‘USD and a gross profit of 3,746 million USD during the same period.
Two key InvestingPro tips are particularly relevant. First, EQH management has been aggressively repurchasing shares, which can be a positive sign for investors because it indicates management’s belief that the company is undervalued. Second, EQH generates a high return on invested capital, a metric that measures how well a company uses its capital to generate profits.
It’s important to note that these are just two of the many valuable tips available on InvestingPro. For more information and advice, consider exploring InvestingPro’s complete platform.
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