Welcome to our dedicated page for Equitable Holdings news (Ticker: EQH), a resource for investors and traders seeking the latest updates and insights on Equitable Holdings stock.
Equitable Holdings, Inc. reports developments across retirement, asset management and wealth management businesses conducted through Equitable, AllianceBernstein and Equitable Advisors. Company news commonly covers operating results, segment performance, assets under management and administration, retirement and protection strategies, investment management services, and advisory relationships with individual, institutional and private wealth clients.
Recurring updates also include capital actions such as common and preferred stock dividends, share repurchase authorizations and debt transactions. Equitable also publishes research on financial planning, retirement readiness, wealth transfer and advisor-client needs, reflecting the company's focus on retirement planning, wealth management, protection and risk management services.
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.
AllianceBernstein L.P. (AB) reported solid financial results for Q3 2020, with net revenues of $900 million, a 3% increase year-over-year. Operating income rose 7% to $217 million, reflecting a 24.1% operating margin. The firm achieved net inflows of $3.1 billion, driven by strong performance in Retail and Institutional channels. Ending assets under management reached $630.8 billion, up 5% from the previous quarter. Cash distribution per Unit increased to $0.69, payable on November 12, 2020.
Equitable Holdings, Inc. (NYSE:EQH) will release its third quarter 2020 financial results on November 4, 2020, after market closure. A conference call webcast to discuss these results is set for November 5, 2020, at 8:00 a.m. ET. Interested parties can register for the call via the provided link. Equitable Holdings combines two significant franchises: Equitable and AllianceBernstein, boasting approximately $711 billion in assets under management and over 5 million client relationships worldwide.
AllianceBernstein L.P. and AllianceBernstein Holding L.P. (NYSE: AB) will release their Third Quarter 2020 financial results on October 22, 2020, followed by a teleconference at 8:00 am (EDT). The call will feature key executives, including CEO Seth P. Bernstein and CFO John C. Weisenseel. Participants can join via webcast or by telephone using ID #5360089. The financial presentation will be available post-release. As of September 30, 2020, AllianceBernstein Holding owned approximately 35.5% of AB, with AXA Equitable Holdings (NYSE: EQH) owning 65.3%.
On August 11, 2020, AllianceBernstein L.P. (AB) reported a 3.8% increase in assets under management (AUM), rising from $600 billion in June to $623 billion in July 2020. This growth was attributed to market appreciation and positive net inflows from retail and institutional channels. However, the Private Wealth channel experienced outflows, including $2.2 billion from AXA S.A., contributing to year-to-date redemptions of $11.1 billion of the expected $14 billion in total redemptions.
AllianceBernstein announced the release of its Second Quarter 2020 financial results on July 23, 2020. A teleconference will follow at 8:00 am (EDT), featuring key executives including President Seth P. Bernstein and CFO John C. Weisenseel. Investors can join via webcast or telephone, with details available on AB's Investor Relations website. A replay will be accessible post-event. As of June 30, 2020, AllianceBernstein Holding owned about 35.5% of AllianceBernstein, while AXA Equitable Holdings held approximately 65.2% interest in the firm.
AllianceBernstein L.P. (AB) announced the acquisition of AnchorPath Financial, LLC during Q2 2020, enhancing its investment management capabilities. AnchorPath specializes in cost-effective, proactive risk control strategies that improve liquidity and transparency. The acquisition brings in over $400m in assets under management and introduces Marshall Greenbaum, a seasoned expert in risk-protected solutions for U.S. insurers, to the AB Multi-Asset Solutions team. This strategic move aims to leverage AB's distribution expertise and provide differentiated investment solutions.