Equitable Holdings Inc Stock Price, News & Analysis

Equitable Holdings (NYSE: EQH) announced that CFO Robin M. Raju will speak at the 2022 KBW Insurance Conference on September 7, 2022, at 2:05 p.m. ET. Investors can access the live audio webcast through the Equitable Holdings Investor Relations website, with a replay available post-event. Equitable Holdings is a financial services company with approximately 12,000 employees and $754 billion in assets under management as of June 30, 2022. It serves over 5 million clients globally, offering retirement strategies and investment services.

Equitable Holdings, Inc. (NYSE: EQH) announced the acquisition of Penn Investment Advisors, Inc., enhancing its wealth management strategy. The deal, expected to close in Q4 2022, brings $600 million in assets under administration and 950 clients to Equitable. This acquisition supports Equitable Advisors, which manages $70.8 billion and employs approximately 4,200 financial professionals. Key leaders from PIA will join Equitable, ensuring a seamless transition for clients and continued advisory services.

Global Atlantic Financial Group announced a reinsuring agreement with Equitable Financial Life Insurance Company, involving the transfer of approximately $3 billion in assets. This deal focuses on a subset of Equitable's group retirement annuities, which collectively hold $10 billion in value. The transaction is expected to conclude in the fourth quarter, pending regulatory approvals. This is Global Atlantic's second reinsurance deal in 2022, furthering its position in the reinsurance market with approximately $80 billion of assets reinsured since 2004.

Equitable Holdings, Inc. (NYSE: EQH) announced the mitigation of $1 billion in redundant reserves due to New York's Regulation 213. The Company's subsidiary, Equitable Financial Life Insurance Company, will reinsure 50% of pre-2009 Group Retirement VA contracts, supported by $4 billion in general account assets. This transaction is expected to yield a positive ceding commission of approximately $1.1 billion, which will help fund the remaining Reserves. The deal will have minimal impact on Group Retirement earnings, anticipated between $10 million and $15 million annually.

Equitable Holdings (NYSE: EQH) reported strong financial results for Q2 2022, boasting a net income of $1.7 billion, translating to $4.47 per share. Non-GAAP operating earnings stood at $531 million, or $1.33 per share. Total assets under management (AUM) decreased to $754 billion, a 13.2% decline from the previous year. The company maintained a robust RBC ratio of 440%, significantly above its target. Business highlights include record inflows in the retirement segment and the completion of the Carval Investors acquisition, enhancing private markets AUM.

Equitable Holdings, Inc. (NYSE: EQH) has declared a $0.20 quarterly cash dividend per share of common stock, payable on August 15, 2022, to shareholders of record by August 8, 2022. Additionally, the company announced dividends for Series A and Series C Non-Cumulative Perpetual Preferred Stock at $328.125 and $268.750 per share, respectively, both payable on September 15, 2022. These payments reflect the company's commitment to rewarding shareholders amidst its ongoing financial services operations.

Equitable Holdings, Inc. (NYSE: EQH) will issue its second quarter 2022 financial results on August 3, 2022. The results will be followed by a conference call on August 4, 2022, at 8:00 a.m. ET. Interested parties can access the call via the investor relations website. The company manages approximately $856 billion in assets and serves over 5 million clients globally.

Equitable Holdings (NYSE: EQH) announces the appointment of Arlene Isaacs-Lowe as an independent board member, effective immediately. With over 30 years' experience in financial services, she has a proven track record in driving growth and integrating ESG strategies. Previously, she held leadership roles at Moody's and currently serves on several boards, including Compass Group PLC (OTC: CMPGY) and Xenia Hotels & Resorts (NYSE: XHR). Her expertise is expected to enhance Equitable's leadership in key areas.

Equitable Holdings (NYSE: EQH) has committed $15 million to the Black Impact Fund, a project by SoLa Impact, which focuses on affordable housing and economic mobility for underserved communities in California. This investment reflects Equitable's dedication to social impact and addressing inequities. SoLa Impact aims to provide high-quality housing and support programs, emphasizing education, career advancement, and financial counseling. The initiative is part of a larger goal to invest over $1 billion in affordable housing and social impact strategies in urban areas.