Equitable Holdings Inc Overview of Services and Governance

Equitable Holdings Inc is a leading financial services company that offers a wide range of services to its customers.

The company's services include life insurance, retirement savings, and investment products.

Equitable Holdings Inc is a subsidiary of AXA, a multinational insurance company.

The company's governance structure includes a Board of Directors, which oversees the overall strategy and direction of the company.

The Board of Directors is responsible for making key decisions that impact the company's operations and financial performance.

Equitable Holdings Inc is committed to transparency and disclosure, and provides regular updates on its financial performance and governance practices.

Discover more: A Company Owner by the Holders of Its Capital Stock

Investment services play a crucial role in equitable holdings by providing access to diverse investment options.

Equitable Holdings offers a range of investment services, including brokerage services, investment advice, and portfolio management.

Investors can choose from a variety of investment products, such as stocks, bonds, and mutual funds, to suit their financial goals and risk tolerance.

Equitable Holdings' investment services are designed to help investors achieve their long-term financial objectives, whether it's saving for retirement or funding a child's education.

A fresh viewpoint: Equitable Life of Canada

Equitable has launched a 401(k) pooled employer plan (PEP) to help small and medium-sized businesses offer retirement plans to their employees.

This initiative addresses a critical gap in retirement planning, as over 40% of small businesses currently don't offer retirement plans due to costs and administrative burdens.

The PEP solution is enabled by the SECURE Act of 2019, which allows unrelated businesses to pool retirement funds into a single plan managed by a third party, reducing administrative tasks and fiduciary risk.

Equitable's new plan is available through the Equitable Retirement Vision platform, with PlanConnect serving as recordkeeper and several specialized partners handling various administrative and fiduciary responsibilities.

According to an Equitable-commissioned survey, approximately 80% of Americans believe all employers should provide retirement plans, with over 80% stating they would decline job opportunities without such benefits.

Consider reading: Equitable Group Inc

BMO Capital has initiated coverage of Equitable Holdings, giving it an "Outperform" rating with a price target of $70. This suggests that the firm has a positive outlook on the company's future performance.

Equitable Holdings has some notable recent activity with an insider selling shares worth $1,291,246, according to a recent SEC filing. This sale indicates that at least one insider has a positive view of the company's current value.

The exact date of the insider sale is January 16.

Equitable Holdings' sales have seen a steady growth trend, with a notable increase in Asset Management sales from $3.48B in 2019 to $4.43B in 2021.

The company's Protection Solutions sales have remained relatively stable, with a slight dip from $3.32B in 2019 to $3.18B in 2023.

Individual Retirement sales have experienced a decline, dropping from $4.34B in 2019 to $2.64B in 2023.

Legacy sales have only appeared in 2023, with a relatively small figure of $801M.

Wealth Management sales have also only appeared in 2023, with a figure of $1.55B.

Group Retirement sales have seen a decline, dropping from $1.08B in 2019 to $1.02B in 2023.

Corporate and Other sales have remained relatively stable, with a slight dip from $1.23B in 2019 to $1.12B in 2023.

The company has experienced significant fluctuations in Unallocated Variable Annuity Product Features sales, with a notable loss of $-3.94B in 2019.

Here's a summary of the sales trends:

Equitable holdings require careful management and governance to ensure their fair and transparent operation. This involves establishing a clear framework for decision-making, conflict resolution, and risk management.

A different take: Arconic and Elliott Management

The management structure of an equitable holding can be tailored to the specific needs of its members, with some opting for a hierarchical system and others for a more collaborative approach. A key consideration is the appointment of a board of directors or management committee, which should include representatives from diverse backgrounds and expertise.

Effective governance in an equitable holding involves regular communication with members, transparent financial reporting, and a clear decision-making process. This helps to build trust and ensures that all members have a voice in the decision-making process.

Expand your knowledge: Insurance Cover on Business - Merchant Services

Douglas Dachille has been appointed as an independent member of Equitable Holdings' Board of Directors.

With three decades of experience in the insurance, banking, and asset management industries, Dachille brings a wealth of knowledge to the role.

He previously served as Chief Investment Officer of AIG from 2015 to 2021, managing a $350 billion portfolio.

Dachille's experience in managing a large portfolio is a significant asset to the Board of Directors.

You might enjoy: Elliott Management Seeks to Replace Southwest Airlines' Board

Prior to AIG, Dachille co-founded and led First Principles Capital Management, and held leadership positions at JPMorgan Chase, including Global Head of Proprietary Trading and Co-Treasurer.

Dachille currently serves on the BridgeBio Pharma Board of Directors and holds an MBA from the University of Chicago.

His diverse background and expertise make him a valuable addition to the Board of Directors.

Consider reading: Directors and Officers Insurance for Nonprofit Organizations

Equitable Holdings has declared its quarterly dividend payments, showing a commitment to returning value to its shareholders.

The company declared a quarterly cash dividend of $0.24 per share of common stock, payable December 3, 2024, to shareholders of record as of November 26, 2024.

Equitable Holdings also declared dividends for three preferred stock series: Series A, Series B, and Series C.

Series A will receive $328.125 per share, or $0.328125 per depositary share, payable December 16, 2024, to holders of record as of December 4, 2024.

Series B will receive $618.750 per share, or $24.75 per depositary share, payable December 16, 2024, to holders of record as of December 4, 2024.

Series C will receive $268.750 per share, or $0.26875 per depositary share, payable December 16, 2024, to holders of record as of December 4, 2024.

Check this out: Lpl Financial Quarterly Earnings

In 1991, AXA Group of France invested $1 billion in Equitable Life Assurance Society for a 49% stake in the business.

This infusion of capital significantly altered the trajectory of both companies, enabling Equitable to set aside $500 million for losses in its real estate and junk bond portfolios.

By 1997, the assets of the U.S. operation, the Equitable Insurance Group, had reached nearly a quarter of a trillion dollars.

AXA's investment led to the creation of AXA Equitable Insurance Company, which became the leading carrier in the world by 2003, with more than 50 million clients in over 50 countries and nearly a trillion dollars in client assets.

In 2018, AXA decided to re-balance its operations from life and annuities to property and casualty, leading to the spin-off of the U.S. operations, the old Equitable Life Assurance company.

AXA successfully completed the IPO of AXA Equitable Holdings in May 2018, raising $2.75 billion on the sale of 24.5% of the outstanding shares.

This was followed by a secondary common stock offering in March 2019, which brought down AXA's ownership stake from 60% to 48.3% and raised net proceeds of $1.5 billion.

AXA finally sold its remaining stake in AXA Equitable Holdings in November 2019, bringing to a close a long and largely successful chapter in the Equitable's history.

At Equitable Holdings, Inc., the management team is led by Mark Pearson, who has been the CEO since January 31, 2011. He is 65 years old.

Mark Pearson is supported by Robin Raju, the Director of Finance/CFO, who joined the company on March 31, 2021, at the age of 43.

Jeffrey Hurd is the Chief Operating Officer, a role he took on December 31, 2017, at the age of 57. Erik Bass, the Investor Relations Contact, joined the company on September 28, 2023, but his age is not publicly available.

Aaron Sarfatti, the Corporate Officer/Principal, has been with the company since December 31, 2017, but his age is also not publicly available.

The management team at Equitable Holdings, Inc. is responsible for overseeing the company's operations and making key decisions. Here is a list of the current management team:

The board of directors at Equitable Holdings, Inc. consists of seven members.

Mark Pearson has been a director since January 31, 2011, and is currently 65 years old. George Stansfield joined the board on December 31, 2016, and is also 65 years old.

Charles Stonehill and Daniel Kaye were both appointed on March 31, 2018, with Stonehill being 66 years old and Kaye being 70 years old. Bertram Scott was appointed on March 26, 2019, at the age of 74.

Joan Lamm-Tennant became the Chairman on October 21, 2021, and is 72 years old. Francis Hondal joined the board on September 7, 2020, at 60 years old.

Craig MacKay was appointed on June 5, 2022, at 62 years old, and Arlene Isaacs-Lowe joined the board on July 10, 2022, at 65 years old. Douglas Dachille was appointed on January 14, 2025, at 60 years old.

Here is a list of the board members, including their ages and appointment dates:

Equitable Holdings, Inc. has a diverse group of shareholders. Vanguard Fiduciary Trust Co. is the largest shareholder with 11.57% of the company's equities.

Vanguard Fiduciary Trust Co. owns 36,244,318 shares of Equitable Holdings, Inc., valued at approximately $1.71 billion. BlackRock Advisors LLC is another major shareholder with 8.311% of the company's equities.

BlackRock Advisors LLC owns 26,040,911 shares of Equitable Holdings, Inc., valued at approximately $1.23 billion. T. Rowe Price International Ltd. is also a significant shareholder with 6.620% of the company's equities.

The top five shareholders of Equitable Holdings, Inc. are:

These shareholders have a significant impact on the company's management and governance.