Equitable Holdings Inc Stock Price, News & Analysis

Equitable Holdings, Inc. (NYSE:EQH) has appointed Robin M. Raju as Chief Financial Officer, effective April 1, pending board approval. Raju, a 17-year veteran of the company, previously led Individual Retirement and played key roles in significant financial transactions, including the IPO in 2018. He succeeds Anders Malmstrom, who departs after nine years. The company also announced internal leadership changes, with Steve Scanlon and Jessica Baehr assuming new roles, emphasizing talent mobility. These transitions aim to strengthen financial management and improve shareholder value.

Equitable has announced enhancements to its Investment Edge^® tax-deferred variable annuity, aimed at protecting clients from market volatility while allowing for market participation. The new features include options for partial downside protection against initial losses of up to -10%, with performance tracking based on a chosen benchmark index. Clients can select from a Standard Segment or a Step Up Segment to optimize returns. Investment Edge also offers preset portfolios managed by well-known fund managers and over 100 investment options for customization, reinforcing Equitable's commitment to innovative retirement solutions.

Equitable, a financial services leader and principal franchise of Equitable Holdings (NYSE: EQH), announced a 15-year lease for its new corporate headquarters at 1345 Avenue of the Americas, set to open in 2024. This move reflects Equitable's long-term commitment to New York City, where it has operated since 1859. The new location aims to enhance collaboration through innovative workspace designs and advanced technology. CEO Mark Pearson emphasized the company's resilience through historical challenges, reinforcing its dedication to clients and the community.

Equitable Holdings reported strong financial results for 2020, with assets under management reaching a record $809 billion, a 10% increase year-over-year. Full year non-GAAP operating earnings totaled $2.3 billion, up 5% per share at $4.99. The company also returned over $3.1 billion to shareholders since its IPO and announced a new $1 billion share repurchase program for 2021. Despite a net loss of $648 million for the year, the company showed resilience with a strong capital position and growth in key business segments, particularly Individual Retirement and Investment Management.

Equitable Holdings, Inc. (NYSE: EQH) announced a quarterly cash dividend of $0.17 per share, payable on March 11, 2021, to shareholders of record as of March 4, 2021. Additionally, the Board declared a quarterly dividend of $328.125 on Series A Non-Cumulative Perpetual Preferred Stock, payable on March 15, 2021, and another of $200.069 on Series C Non-Cumulative Perpetual Preferred Stock, also payable on March 15, 2021. These dividends reflect the company's commitment to return value to its shareholders.

Equitable Holdings (NYSE: EQH) has authorized a $1 billion share repurchase program, highlighting the strength of its balance sheet and strong cash flow generation, according to CFO Anders Malmström. The program allows for share purchases via various methods, reinforcing the company's commitment to returning capital to shareholders. The board can adjust the program's terms at any time, demonstrating its flexibility in capital management.

Equitable Holdings, Inc. (NYSE: EQH) has appointed Jose Ramon Gonzalez as the new Chief Legal Officer and Corporate Secretary. He will report to President and CEO Mark Pearson, succeeding Dave Hattem, who is set to retire. Gonzalez has over 25 years of legal experience and has held leadership roles in publicly traded companies, including CNA Insurance and AIG. His appointment aims to enhance the legal and compliance functions at Equitable to support its strategic objectives. The company emphasizes Gonzalez's expertise as beneficial for achieving strong results.

Equitable has launched Equitable Retirement Vision, a platform catering to both ERISA and non-ERISA retirement plans, aimed at enhancing support for plan sponsors and participants. Key features include a managed account option for personalized investment strategies, the Equitable Fixed Account for stable returns, and fiduciary support to alleviate administrative liabilities. This service targets small-to-medium businesses and various sectors, providing over 16,000 investment options and mobile access to account management.

Equitable Holdings, Inc. (NYSE: EQH) will announce its financial results for Q4 and the full year 2020 after market close on February 23, 2021. A conference call will follow on February 24, 2021, at 8:00 a.m. ET to discuss these results. More information, including earnings materials, will be available on the investor relations website.

Equitable Holdings, established in 1859, includes Equitable and AllianceBernstein, boasting approximately $746 billion in assets under management and over 5 million global client relationships.