Equitable Holdings, Inc. - EQH STOCK NEWS

Equitable Holdings, Inc. (NYSE: EQH) has appointed Craig MacKay as an independent board member, effective immediately. Mr. MacKay brings over 30 years of investment banking experience across various sectors, having closed over $12 billion in finance and M&A transactions. Joan Lamm-Tennant, Chair of the Board, expressed optimism about his contributions to enhance company value. Mark Pearson, CEO, welcomed Mr. MacKay's governance expertise and financial insight, which are expected to support Equitable's mission of securing financial well-being for clients.

Equitable Holdings, Inc. (NYSE: EQH) has declared a quarterly cash dividend of $0.20 per share, reflecting an 11% increase from the previous quarter. This dividend will be payable on June 6, 2022, to shareholders of record by May 30, 2022. Additional dividends include $328.125 per share on Series A preferred stock and $618.750 semi-annually on Series B preferred stock, both payable on June 15, 2022. The company manages approximately $856 billion in assets and serves over 5 million clients worldwide.

Equitable Holdings, Inc. (NYSE: EQH) has received an upgrade from Moody's Investor Services, improving its senior unsecured debt rating from Baa2 to Baa1. Additionally, the insurance financial strength ratings of its life insurance subsidiaries have risen from A2 to A1. However, the outlook was adjusted from positive to stable. Equitable Holdings manages approximately $856 billion in assets and has over 5 million client relationships worldwide, employing around 12,100 professionals.

Equitable Holdings (NYSE: EQH) has teamed up with Columbia University to launch a new program aimed at enhancing holistic financial planning. This program will train financial professionals to help clients connect their life goals with long-term financial strategies. Participants will earn the Columbia University Holistic Financial Coach Credential upon completion. Over 1,500 Equitable Advisors are currently participating in a foundational program, with more than 100 already credentialed. The initiative addresses the rising demand for personalized financial advice that considers clients' emotional and social needs.

Equitable Holdings reported a strong Q1 2022 with net income of $573 million, reversing a loss of $1.5 billion from the previous year. Net inflows reached $12 billion, driving AUM growth to $856 billion, a 4% year-over-year increase. Non-GAAP operating earnings were $548 million ($1.36 per share), with notable items adjusted earnings at $615 million ($1.53 per share). The acquisition of CarVal Investors will enhance the Private Markets AUM to nearly $50 billion. Equitable plans to increase its quarterly cash dividend from $0.18 to $0.20, reflecting a commitment to shareholder returns.

Equitable Holdings (NYSE: EQH) has announced a three-year partnership with the Council of Chief State School Officers to enhance the National Teacher of the Year Program. This initiative aims to celebrate and support outstanding teachers across the U.S. who have demonstrated excellence in their profession.

The 2022 cohort features 56 educators, including Kurt Russell, honored as the National Teacher of the Year. Equitable will host events to recognize these educators starting May 3 with Nancy Parra-Quinlan in Arizona and culminating on June 6 with Kurt Russell at Oberlin High School.

Equitable Holdings, Inc. (NYSE: EQH) will announce its Q1 2022 financial results on May 9, 2022, after market close. A conference call to discuss these results is scheduled for May 10, 2022, at 9:00 a.m. ET. The call will be available on the investor relations website. Equitable Holdings is a financial services holding company managing approximately $908 billion in assets and servicing over 5 million clients globally. The company comprises Equitable and AllianceBernstein, focusing on financial advice and investment management.

Equitable Holdings announced that its subsidiary, AllianceBernstein (AB), will acquire CarVal Investors, a global private alternatives investment manager with $14.3 billion in assets under management (AUM). The deal, worth $750 million, will enhance AB's private markets platform to nearly $50 billion in AUM. The acquisition is expected to generate synergies, strengthen AB's position in private credit, and maintain EQH's cash flow at $1.5 billion. The transaction is set to close in Q2 2022 and is neutral to EQH's earnings per share (EPS) in the short term.