Equitable Holdings, Inc. - EQH STOCK NEWS

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.

Equitable Holdings, Inc. (NYSE: EQH) announced it has received regulatory approvals for its legacy variable annuity reinsurance transaction with Venerable Insurance and Annuity Company. The transaction is expected to close in the second quarter of 2021. Equitable Holdings, founded in 1859, manages approximately $822 billion in assets and has more than 5 million client relationships globally.

Equitable Holdings (NYSE: EQH) reported strong Q1 2021 results with non-GAAP operating earnings of $1.35 per share, a 19% increase year-over-year. Assets under management reached a record $822 billion, growing 27% year-over-year, driven by robust net flows and favorable equity markets. The company highlighted its focus on a fair value economic approach and is set to finalize a significant variable annuity reinsurance transaction with Venerable in Q2 2021, aiming to enhance balance sheet stability.

Equitable has appointed Stephanie Shields as the new Head of its Employee Benefits business, a key role in advancing the company's market presence and innovative product offerings. Shields, who brings over 20 years of experience from companies like Aflac and Cigna, will oversee strategy, distribution, product development, and partnerships. Equitable aims to provide competitive employee benefits solutions, focusing on small and medium-sized businesses, with offerings including life, disability, dental, and vision insurance.

Equitable Holdings (NYSE: EQH) is set to release its Q1 2021 financial results after market close on May 5, 2021. A conference call to discuss these results will be held on May 6, 2021, at 8:00 a.m. ET. Interested parties can register for the call through the provided link. Equitable Holdings, founded in 1859, operates through two main franchises: Equitable and AllianceBernstein, managing approximately $809 billion in assets as of December 31, 2020 and serving over 5 million clients globally.