Equitable Holdings Inc - EQH STOCK NEWS

Equitable, a top financial services provider and part of Equitable Holdings, Inc. (NYSE: EQH), has appointed Hector Martinez as the new Head of its Life Insurance business. Reporting to President Nick Lane, Martinez will manage the strategy and operations of the life insurance product line. With over 20 years of experience, including leadership roles in business restructuring, he aims to enhance sales and distribution processes. The life insurance portfolio targets small to medium enterprises and includes products like Variable Universal Life and Indexed Universal Life.

Equitable (NYSE: EQH) has enhanced its group retirement plans for small-to-medium sized businesses by introducing customized managed accounts and cash balance plans. These additions aim to support business owners and their employees in tailoring investment portfolios and accelerating retirement savings. Despite the challenges posed by the COVID-19 pandemic, research indicates that most small business owners prioritize retirement savings. The new managed accounts are facilitated by Stadion Money Management, aiming to deliver personalized investment strategies.

Equitable announced the 2021 recipients of the Equitable Excellence Scholarship, recognizing 369 students from across the U.S., D.C., and Puerto Rico for their academic excellence and community leadership. The initiative awarded over $1.8 million, bringing the total to more than $30 million since its inception in 2003, benefiting over 7,000 students. The program aligns with Equitable's mission to enhance social mobility and financial success through education, reflecting the resilience of students during challenging times.

Equitable Holdings (NYSE: EQH) announced that CFO Robin Raju will participate in a fireside chat at the Morgan Stanley US Financials, Payments & CRE Virtual Conference on June 15, 2021, at 8:45 a.m. ET. Investors can listen to the live audio webcast on the Equitable Holdings Investor Relations website, available 15 minutes before the event. A replay will be posted shortly after the session concludes. Established in 1859, Equitable Holdings manages $822 billion in assets and serves over 5 million clients globally.

Venerable Holdings has successfully acquired Corporate Solutions Life Reinsurance Company from Equitable Holdings (NYSE: EQH), enhancing its assets under management to approximately $70 billion. The deal includes reinsurance of a legacy variable annuity block worth $36.5 billion, effectively doubling Venerable's general account assets from $9 billion to $19 billion. Equitable Holdings will hold a 9.09% equity stake in Venerable's parent company, VA Capital Company LLC. This acquisition aims to optimize liquidity and operational efficiencies, showcasing Venerable's capability in managing variable annuity liabilities.

Equitable Holdings, Inc. (NYSE: EQH) has successfully completed a transaction to reinsure legacy variable annuity policies from 2006 to 2008 with Venerable Holdings, Inc. AllianceBernstein will manage the transferred assets. This marks a significant step in Equitable’s strategy to de-risk its balance sheet and shift focus to capital-resilient operations. As part of the deal, Equitable obtained a 9.09% equity stake in VA Capital Company LLC, Venerable’s parent, along with board designation rights. This move aims to enhance long-term shareholder value.

Equitable Holdings, Inc. (NYSE: EQH) has declared a quarterly cash dividend of $0.18 per share, marking a 6% increase from the previous quarter. This dividend is set to be paid on June 7, 2021, to shareholders on record as of May 31, 2021. Additionally, the Board declared dividends on preferred stocks, including $328.125 per share for Series A and $618.750 for Series B, both payable on June 15, 2021. The company manages $822 billion in assets and has over 5 million client relationships globally.

AllianceBernstein L.P. (AB) has successfully closed its second collateralized loan obligation (CLO), raising $400 million. JPMorgan Chase served as the lead arranger for this transaction. This CLO is part of AB's broader CLO management business, which began in 2019. The firm has a track record of 12 CLO transactions totaling $4.3 billion since 2016. As of April 30, 2021, AB manages $724 billion in client assets. Equitable Holdings (EQH) holds a 64.3% economic interest in AllianceBernstein.

Equitable Holdings (NYSE: EQH) announced an agreement to repurchase 7.1 million shares from AXA S.A. due to the maturity of mandatory exchangeable bonds issued by AXA on May 14, 2018. The transaction is set to close on May 20, 2021. This strategic buyback underscores Equitable's commitment to enhancing shareholder value and reflects confidence in its financial stability.