Equitable Holdings receives regulatory approvals for transaction with Venerable » 17:0605/1105/11/21
Equitable Holdings announced that it received all required regulatory approvals for its legacy variable annuity reinsurance transaction with Venerable Insurance and Annuity Company. The Company expects the transaction to close in the Q2.
Equitable Holdings price target raised to $43 from $37 at Truist » 08:5305/1105/11/21
Truist analyst Mark…
Truist analyst Mark Hughes raised the firm's price target on Equitable Holdings (EQH) to $43 from $37 and keeps a Buy rating on the shares. The analyst cites the company's Q1 earnings upside along with its ownership of AllianceBernstein (AB), which he expects to appreciate given AllianceBernstein's expected operating income growth of 8%. Hughes further cites Equitable Holdings' solid position in the U.S. retirement savings market and its number two position in sales of variable annuities.
|Over a week ago|
Equitable Holdings reports Q1 operating EPS $1.35, consensus $1.27 » 16:2905/0505/05/21
"Thanks to the…
"Thanks to the resiliency of Equitable's business model, we began 2021 with strong operating performance and delivered another quarter of solid results, with non-GAAP operating earnings of $1.35 per share, up 19% year-over-year. Buoyed by net flows and strong equity markets, assets under management grew 27% year-over-year to $822B, reaching another record high. We remain grounded in our fair value economic approach to managing the business. Our balance sheet de-risking efforts will be further accelerated by our landmark variable annuity reinsurance transaction with Venerable, which remains on track to close in the second quarter. In addition to the benefits we receive from managing to a fair value framework, we remain confident in our ability to generate long-term value," said Mark Pearson, President and CEO.
CPSI names Amaris McComas as new Chief People Officer » 10:0204/2704/27/21
CPSI (CPSI) announced…
CPSI (CPSI) announced that Amaris McComas has been named the company's new Chief People Officer, effective May 3. In this new senior role for CPSI, McComas will have oversight of all of the company's organizational and leadership development, talent management, succession planning, compensation, and benefits for the approximately 2,000 CPSI employees, including an expanding remote workforce. McComas brings over 15 years of experience in human resources management to CPSI and most recently served as Head of Talent, Strategy and Transformation for Equitable (EQH).
Equitable Holdings initiated with a Buy at UBS » 16:3504/2004/20/21
UBS analyst Brian…
UBS analyst Brian Meredith initiated coverage of Equitable Holdings with a Buy rating and $44 price target as part of a broader research note on U.S. Life Insurance group. The analyst states that the company is de-risking its most problematic legacy VA block and deploying proceeds, but he sees further upside as the door is open for further de-risking and/or M&A involving its "other capital-efficient, higher-margin businesses that are deeply undervalued currently".
|Over a month ago|
Equitable Holdings price target raised to $32 from $27 at JPMorgan » 07:1304/0504/05/21
JPMorgan analyst Jimmy…
JPMorgan analyst Jimmy Bhullar raised the firm's price target on Equitable Holdings to $32 from $27 and keeps a Neutral rating on the shares. The analyst's outlook for life insurance stocks is "less upbeat" following the group's "strong recent performance." He expects long-term business fundamentals to "stay lackluster," marked by weak return on equity, modest top-line growth, and "high tail risk." However, the prospect of further increases in interest rates and the government's support of credit are the key factors keeping Bhullar from being more cautious.
Equitable Holdings price target raised to $38 from $34 at Citi » 06:5503/3103/31/21
Citi analyst Suneet…
Citi analyst Suneet Kamath raised the firm's price target on Equitable Holdings to $38 from $34 and keeps a Buy rating on the shares. The analyst refreshed U.S. insurance price targets to reflect the year-to-date changes in the market environment. In addition, he moved away from a preference for property and casualty over life insurance and now equally weighs both sectors.
Equitable Holdings names Robin M. Raju CFO » 16:1503/0903/09/21
Equitable Holding announced the appointment of Robin M. Raju to Chief Financial Officer, effective April 1, pending approval from the Equitable Holdings Board of Directors. Raju will report to Mark Pearson, President and Chief Executive Officer of Equitable Holdings, and continue to serve on the company's Management Committee. "Robin has been at the core of our pivotal moments as an independent organization, helping to grow our business, manage our capital and enhance our risk framework. I have every confidence that, as CFO, Robin will continue to actively shape our organization, driving value for our clients and shareholders," said Mark Pearson. "At Equitable, we know the decisions we make today impact not only our organization but also the financial well-being of the millions of Americans we proudly serve. Robin's technical expertise, strategic vision and proven track record will help ensure Equitable delivers on its promises for generations to come."
Equitable Holdings reports Q4 EPS $1.65, consensus $1.21 » 16:2502/2302/23/21
Reports Q4 revenue $516M…
Reports Q4 revenue $516M vs. $1.68B last year. Reports Q4 total AUM $809B vs. $735B last year. CEO Mark Pearson says: "Three years ago, we started our journey as a public company and set forth commitments to the end of 2020 on earnings growth, productivity, investment return and balance sheet strength. I'm proud to report that despite the adverse environment, we delivered on all of these commitments, including returning more than $3.1 billion to shareholders since the IPO. With the expected close of our variable annuity reinsurance transaction on track for the second quarter of 2021 and de-risking of our balance sheet, we are well placed for the future and look forward to continuing to provide economically sound and in-demand solutions for our clients."
Equitable Holdings authorizes additional buyback for up to $1B in common stock 16:2302/2302/23/21