Equitable Holdings Inc Stock Price, News & Analysis

Equitable Holdings, Inc. (NYSE: EQH) announced that CEO Mark Pearson will participate in the Goldman Sachs US Financial Services Conference on December 7, 2022, at 1:40 p.m. ET. A live audio webcast will be available on the Equitable Holdings Investor Relations website, and users are encouraged to log in 15 minutes early. Founded in 1859, Equitable Holdings manages approximately $716 billion in assets and serves over 5 million clients globally, with a workforce of around 12,000 professionals.

Equitable Holdings, Inc. (NYSE: EQH) announced a quarterly cash dividend of $0.20 per share, payable on December 5, 2022, to shareholders of record by November 28, 2022. Additionally, the board declared dividends for its preferred stock:

• Series A: $328.125 per share, payable on December 15, 2022.
• Series B: $618.75 per share, payable on December 15, 2022.
• Series C: $268.750 per share, payable on December 15, 2022.

Equitable Holdings (EQH) reported a net income of $273 million for Q3 2022, with earnings per share of $0.69, significantly down from $672 million and $1.59 in Q3 2021. Non-GAAP operating earnings were $498 million or $1.28 per share, adjusting for notable items yields $511 million or $1.32 per share. Total assets under management declined 17.7% year-over-year to $716 billion, primarily due to market performance. Despite a challenging environment, the firm returned $275 million to shareholders, maintaining a payout ratio of 50-60%. Investments and prudent management practices helped mitigate risks.

Equitable Holdings, Inc. (NYSE: EQH) announced enhancements to its registered index-linked annuity (RILA) products to aid clients in navigating volatile markets and inflation. The Structured Capital Strategies® Income product increased income rates by 25 basis points, addressing a decline in the equity market by 20% and high inflation. Additionally, the SCS PLUS RILA is now available in New York, extending access to more clients. These updates aim to provide clients with income and growth opportunities while mitigating equity market risks.

Equitable is now accepting applications for the 2023 Equitable Excellence Scholarship, providing 100 renewable scholarships of $5,000 annually for four years, totaling $20,000 per recipient. Additionally, 100 one-time $2,500 scholarships will be awarded. The program aims to improve college access and career readiness to enhance social mobility. Since its inception in 2003, Equitable has awarded over $30 million to more than 7,000 students. Applications are open until December 16.

Equitable Holdings (NYSE: EQH) will release its third quarter 2022 financial results on November 2, 2022, after market closure. Following this, a conference call webcast is scheduled for November 3, 2022, at 8:00 a.m. ET to discuss the results. Interested participants can access the webcast and earnings materials on the investor relations website. Equitable Holdings, founded in 1859, manages approximately $754 billion in assets and serves over 5 million clients globally.

Equitable Holdings, Inc. (NYSE: EQH) has announced the closure of a significant transaction involving its subsidiary, Equitable Financial Life Insurance Company, and Global Atlantic Financial Group’s First Allmerica Financial Life Insurance Company. This deal reinsures a 50% quota share of pre-2009 Group Retirement VA contracts, backed by approximately $4 billion in general account assets and $6 billion in separate account value. This strategic move mitigates $1 billion in redundant reserves as per New York's Regulation 213, thereby enhancing future cash flow security.

Equitable has launched the Retirement Gateway for Small Business, a new 401(k) program designed for small businesses with account values up to $500k. This initiative aims to simplify the 401(k) onboarding and administration process, addressing the underserved micro 401(k) market. Key features include fiduciary support, automatic enrollment to boost participation, and streamlined payroll integration. The program is aligned with upcoming SECURE Act 2.0 provisions, which are expected to enhance tax credits for small businesses, thus fostering growth in the micro 401(k) sector.