Equitable Holdings Inc Stock Price, News & Analysis

AllianceBernstein L.P. (AB) announced a significant rise in its assets under management (AUM), reaching $668 billion in November 2020, up from $622 billion in October, marking a 7.4% increase. This growth was attributed to both market appreciation and net inflows across various channels. Notably, Institutions and Retail saw positive net flows, while Private Wealth experienced minor outflows. Additionally, $5.1 billion in inflows to a low-fee Agency MBS mandate contributed to this increase. However, redemptions from AXA S.A. accounted for approximately $11.8 billion year-to-date of an expected $14 billion total.

Equitable Holdings, Inc. (NYSE: EQH) has announced that Anders Malmström, CFO, will take part in a fireside chat at the Goldman Sachs 2020 US Financial Services Conference on December 9, 2020, at 10:40 a.m. ET. The live audio webcast can be accessed on the Equitable Holdings Investor Relations website, with a replay available shortly after the event. Equitable Holdings, established in 1859, manages approximately $746 billion in assets and serves over 5 million clients globally through its franchises, Equitable and AllianceBernstein.

Equitable Holdings, Inc. (NYSE: EQH) has declared a quarterly cash dividend of $0.17 per share of common stock, payable on December 1, 2020, to shareholders of record on November 23, 2020. Additionally, the board announced cash dividends on preferred stock: $328.125 per share for Series A and $426.250 for Series B, both payable on December 15, 2020, to holders recorded by December 4, 2020. These dividends reflect the company's continued commitment to returning value to its shareholders.

Equitable announced new options for its Structured Capital Strategies® PLUS (SCS PLUS) registered index-linked annuity, offering clients enhanced ways to benefit even during market downturns. Starting November 23, clients can access features such as capturing up to 125% of the S&P 500's positive returns with downside protection. Additional dual direction protection options expand buffer levels from -10% to -15% and -20%. The innovations aim to assist clients in managing investment risks while targeting growth in volatile markets, emphasizing the need for tailored financial solutions.

Equitable Holdings, Inc. (NYSE: EQH) reported third-quarter financial results for 2020, revealing non-GAAP operating earnings of $568 million, down from $673 million year-over-year. Total assets under management rose 6% to $746 billion, driven by net inflows and strong market performance. While the net loss attributable to Holdings widened to $779 million from $374 million, the company plans to return $552 million to shareholders this year. Equitable expects to enhance its return on equity with the close of a legacy variable annuity transaction by 2021.

AllianceBernstein (AB) and AllianceBernstein Holding announced that Ali Dibadj, Head of Finance and Strategy, will attend the 2020 Bank of America Securities Future of Financials Conference on November 9 at 4:10 p.m. ET in New York. A live audio webcast will be available on AB's website, with a replay afterward. As of September 30, 2020, AllianceBernstein Holding owned approximately 35.5% of AllianceBernstein, while AXA Equitable Holdings (EQH) held about 65.3% economic interest.

Equitable announced a $150,000 commitment to match donations for educator projects via DonorsChoose. This initiative will support 500 educators and 15,000 students by providing essential supplies like masks and hand sanitizer. This grant builds on a previous $500,000 contribution to the Keep Kids Learning program, aiding over 20,000 students during remote learning. Equitable also collaborates with 3 Heart Strings to distribute PPE kits in Florida. The organization has previously donated significant PPE supplies, ensuring a safe return to classrooms across the U.S.

Equitable Holdings (EQH) announced a landmark agreement with Venerable Holdings to reinsure $12 billion in legacy variable annuity policies from 2006-2008. This transaction is projected to generate $1.2 billion in statutory value, including an $800 million capital release, which will significantly strengthen Equitable's balance sheet. The deal is expected to close in Q2 2021, reducing required capital from $19 billion to $7 billion and enhancing the RBC ratio by 60 percentage points. The company plans to repurchase an additional $500 million in shares, subject to the transaction's completion.

Venerable Holdings, Inc. announced a significant transaction with Equitable Holdings (NYSE: EQH) on October 27, 2020, poised to double Venerable's total assets. This deal involves acquiring Corporate Solutions Life Reinsurance Company and reinsuring approximately $12 billion of legacy variable annuity business. Post-transaction, Venerable's general account assets will surge from $11 billion to $24 billion, while separate account value will exceed $46 billion. The transaction is expected to close in Q2 2021, pending regulatory approvals.