Equitable Holdings, Inc. - EQH STOCK NEWS

Equitable announced new options for its Structured Capital Strategies® PLUS (SCS PLUS) registered index-linked annuity, offering clients enhanced ways to benefit even during market downturns. Starting November 23, clients can access features such as capturing up to 125% of the S&P 500's positive returns with downside protection. Additional dual direction protection options expand buffer levels from -10% to -15% and -20%. The innovations aim to assist clients in managing investment risks while targeting growth in volatile markets, emphasizing the need for tailored financial solutions.

Equitable Holdings, Inc. (NYSE: EQH) reported third-quarter financial results for 2020, revealing non-GAAP operating earnings of $568 million, down from $673 million year-over-year. Total assets under management rose 6% to $746 billion, driven by net inflows and strong market performance. While the net loss attributable to Holdings widened to $779 million from $374 million, the company plans to return $552 million to shareholders this year. Equitable expects to enhance its return on equity with the close of a legacy variable annuity transaction by 2021.

AllianceBernstein (AB) and AllianceBernstein Holding announced that Ali Dibadj, Head of Finance and Strategy, will attend the 2020 Bank of America Securities Future of Financials Conference on November 9 at 4:10 p.m. ET in New York. A live audio webcast will be available on AB's website, with a replay afterward. As of September 30, 2020, AllianceBernstein Holding owned approximately 35.5% of AllianceBernstein, while AXA Equitable Holdings (EQH) held about 65.3% economic interest.

Equitable announced a $150,000 commitment to match donations for educator projects via DonorsChoose. This initiative will support 500 educators and 15,000 students by providing essential supplies like masks and hand sanitizer. This grant builds on a previous $500,000 contribution to the Keep Kids Learning program, aiding over 20,000 students during remote learning. Equitable also collaborates with 3 Heart Strings to distribute PPE kits in Florida. The organization has previously donated significant PPE supplies, ensuring a safe return to classrooms across the U.S.

Equitable Holdings (EQH) announced a landmark agreement with Venerable Holdings to reinsure $12 billion in legacy variable annuity policies from 2006-2008. This transaction is projected to generate $1.2 billion in statutory value, including an $800 million capital release, which will significantly strengthen Equitable's balance sheet. The deal is expected to close in Q2 2021, reducing required capital from $19 billion to $7 billion and enhancing the RBC ratio by 60 percentage points. The company plans to repurchase an additional $500 million in shares, subject to the transaction's completion.

Venerable Holdings, Inc. announced a significant transaction with Equitable Holdings (NYSE: EQH) on October 27, 2020, poised to double Venerable's total assets. This deal involves acquiring Corporate Solutions Life Reinsurance Company and reinsuring approximately $12 billion of legacy variable annuity business. Post-transaction, Venerable's general account assets will surge from $11 billion to $24 billion, while separate account value will exceed $46 billion. The transaction is expected to close in Q2 2021, pending regulatory approvals.

AllianceBernstein L.P. (AB) reported solid financial results for Q3 2020, with net revenues of $900 million, a 3% increase year-over-year. Operating income rose 7% to $217 million, reflecting a 24.1% operating margin. The firm achieved net inflows of $3.1 billion, driven by strong performance in Retail and Institutional channels. Ending assets under management reached $630.8 billion, up 5% from the previous quarter. Cash distribution per Unit increased to $0.69, payable on November 12, 2020.

Equitable Holdings, Inc. (NYSE:EQH) will release its third quarter 2020 financial results on November 4, 2020, after market closure. A conference call webcast to discuss these results is set for November 5, 2020, at 8:00 a.m. ET. Interested parties can register for the call via the provided link. Equitable Holdings combines two significant franchises: Equitable and AllianceBernstein, boasting approximately $711 billion in assets under management and over 5 million client relationships worldwide.

AllianceBernstein L.P. and AllianceBernstein Holding L.P. (NYSE: AB) will release their Third Quarter 2020 financial results on October 22, 2020, followed by a teleconference at 8:00 am (EDT). The call will feature key executives, including CEO Seth P. Bernstein and CFO John C. Weisenseel. Participants can join via webcast or by telephone using ID #5360089. The financial presentation will be available post-release. As of September 30, 2020, AllianceBernstein Holding owned approximately 35.5% of AB, with AXA Equitable Holdings (NYSE: EQH) owning 65.3%.