In trading on Wednesday, Equitable Holdings Inc’s 5.25% Fixed Rate Noncumulative Perpetual Preferred Stock, Series A (Symbol: EQH.PRA), yielded over 7%, with shares dropping to as low as $18.74. This yield is below the average of 7.29% in the “Insurance Brokers” preferred stock category, according to Preferred Stock Channel. The stock is currently trading at a 24.72% discount to its liquidation preference, compared to the category average of 24.57%.
As of the last close, EQH.PRA is down approximately 0.4% for the day, while the common shares, Symbol: EQH, have risen by about 0.7%. Notably, the shares are classified as noncumulative, meaning that missed dividend payments do not accumulate for preferred shareholders.
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