Equitable Holdings, Inc. - EQH STOCK NEWS

Equitable Holdings reported strong financial results for 2020, with assets under management reaching a record $809 billion, a 10% increase year-over-year. Full year non-GAAP operating earnings totaled $2.3 billion, up 5% per share at $4.99. The company also returned over $3.1 billion to shareholders since its IPO and announced a new $1 billion share repurchase program for 2021. Despite a net loss of $648 million for the year, the company showed resilience with a strong capital position and growth in key business segments, particularly Individual Retirement and Investment Management.

Equitable Holdings, Inc. (NYSE: EQH) announced a quarterly cash dividend of $0.17 per share, payable on March 11, 2021, to shareholders of record as of March 4, 2021. Additionally, the Board declared a quarterly dividend of $328.125 on Series A Non-Cumulative Perpetual Preferred Stock, payable on March 15, 2021, and another of $200.069 on Series C Non-Cumulative Perpetual Preferred Stock, also payable on March 15, 2021. These dividends reflect the company's commitment to return value to its shareholders.

Equitable Holdings (NYSE: EQH) has authorized a $1 billion share repurchase program, highlighting the strength of its balance sheet and strong cash flow generation, according to CFO Anders Malmström. The program allows for share purchases via various methods, reinforcing the company's commitment to returning capital to shareholders. The board can adjust the program's terms at any time, demonstrating its flexibility in capital management.

Equitable Holdings, Inc. (NYSE: EQH) has appointed Jose Ramon Gonzalez as the new Chief Legal Officer and Corporate Secretary. He will report to President and CEO Mark Pearson, succeeding Dave Hattem, who is set to retire. Gonzalez has over 25 years of legal experience and has held leadership roles in publicly traded companies, including CNA Insurance and AIG. His appointment aims to enhance the legal and compliance functions at Equitable to support its strategic objectives. The company emphasizes Gonzalez's expertise as beneficial for achieving strong results.

Equitable has launched Equitable Retirement Vision, a platform catering to both ERISA and non-ERISA retirement plans, aimed at enhancing support for plan sponsors and participants. Key features include a managed account option for personalized investment strategies, the Equitable Fixed Account for stable returns, and fiduciary support to alleviate administrative liabilities. This service targets small-to-medium businesses and various sectors, providing over 16,000 investment options and mobile access to account management.

Equitable Holdings, Inc. (NYSE: EQH) will announce its financial results for Q4 and the full year 2020 after market close on February 23, 2021. A conference call will follow on February 24, 2021, at 8:00 a.m. ET to discuss these results. More information, including earnings materials, will be available on the investor relations website.

Equitable Holdings, established in 1859, includes Equitable and AllianceBernstein, boasting approximately $746 billion in assets under management and over 5 million global client relationships.

Research commissioned by Equitable reveals that K-12 educators with a choice of retirement plan providers have better financial outcomes. The study of 800 educators indicates that having multiple providers increases participation rates from 25% to 33% and raises average annual contributions by 22%, from $3,961 to $4,843. Additionally, 70% of those with a choice reported satisfaction with their plans, compared to 57% without, while 87% expressed confidence in their retirement plans. These findings underscore the importance of provider choice in achieving financial goals.

AllianceBernstein L.P. (AB) announced a significant rise in its assets under management (AUM), reaching $668 billion in November 2020, up from $622 billion in October, marking a 7.4% increase. This growth was attributed to both market appreciation and net inflows across various channels. Notably, Institutions and Retail saw positive net flows, while Private Wealth experienced minor outflows. Additionally, $5.1 billion in inflows to a low-fee Agency MBS mandate contributed to this increase. However, redemptions from AXA S.A. accounted for approximately $11.8 billion year-to-date of an expected $14 billion total.

Equitable Holdings, Inc. (NYSE: EQH) has announced that Anders Malmström, CFO, will take part in a fireside chat at the Goldman Sachs 2020 US Financial Services Conference on December 9, 2020, at 10:40 a.m. ET. The live audio webcast can be accessed on the Equitable Holdings Investor Relations website, with a replay available shortly after the event. Equitable Holdings, established in 1859, manages approximately $746 billion in assets and serves over 5 million clients globally through its franchises, Equitable and AllianceBernstein.