Equitable Holdings Inc - EQH STOCK NEWS

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.

Equitable Holdings, Inc. (NYSE:EQH) has appointed Robin M. Raju as Chief Financial Officer, effective April 1, pending board approval. Raju, a 17-year veteran of the company, previously led Individual Retirement and played key roles in significant financial transactions, including the IPO in 2018. He succeeds Anders Malmstrom, who departs after nine years. The company also announced internal leadership changes, with Steve Scanlon and Jessica Baehr assuming new roles, emphasizing talent mobility. These transitions aim to strengthen financial management and improve shareholder value.

Equitable has announced enhancements to its Investment Edge^® tax-deferred variable annuity, aimed at protecting clients from market volatility while allowing for market participation. The new features include options for partial downside protection against initial losses of up to -10%, with performance tracking based on a chosen benchmark index. Clients can select from a Standard Segment or a Step Up Segment to optimize returns. Investment Edge also offers preset portfolios managed by well-known fund managers and over 100 investment options for customization, reinforcing Equitable's commitment to innovative retirement solutions.

Equitable, a financial services leader and principal franchise of Equitable Holdings (NYSE: EQH), announced a 15-year lease for its new corporate headquarters at 1345 Avenue of the Americas, set to open in 2024. This move reflects Equitable's long-term commitment to New York City, where it has operated since 1859. The new location aims to enhance collaboration through innovative workspace designs and advanced technology. CEO Mark Pearson emphasized the company's resilience through historical challenges, reinforcing its dedication to clients and the community.

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.