Equitable Holdings Inc Stock Price, News & Analysis

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.

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.