Equitable Holdings Inc
NYSE:EQH
Equitable Holdings Inc
Equitable Holdings Inc. stands as a stalwart within the financial services sector, with a rich legacy rooted in its inception as a life insurance company more than 160 years ago. Headquartered in New York City, the company operates primarily through two main subsidiaries: Equitable Life and AllianceBernstein. Through Equitable Life, the firm offers a comprehensive suite of financial products and services, ranging from retirement plans and annuities to life insurance, catering to both individual and institutional clients. This subsidiary thrives on its ability to navigate complex risk environments, leveraging actuarial science and financial acumen to ensure the sustainability and competitiveness of its insurance products. By crafting personalized solutions, Equitable not only safeguards the financial future of its policyholders but also aligns itself with the evolving financial landscape, thereby securing a steady stream of income from the premiums it collects.
On the other hand, AllianceBernstein, the investment management arm of Equitable Holdings, amplifies the company's financial prowess by providing a wide array of investment options, including equities, fixed income, and alternative investments. Serving institutional clients, retail investors, and private wealth individuals, AllianceBernstein channels its deep expertise in active asset management to deliver risk-adjusted returns. Its robust research framework and strategic market positioning allow it to thrive amid fluctuating economic cycles. As such, AllianceBernstein contributes significantly to Equitable Holdings' revenue through management and advisory fees, which are performance-driven and closely tied to the value of assets under management. Together, these divisions forge a cohesive financial powerhouse, driving Equitable Holdings' growth and reinforcing its commitment to helping clients achieve financial independence and peace of mind.
Equitable Holdings Inc. stands as a stalwart within the financial services sector, with a rich legacy rooted in its inception as a life insurance company more than 160 years ago. Headquartered in New York City, the company operates primarily through two main subsidiaries: Equitable Life and AllianceBernstein. Through Equitable Life, the firm offers a comprehensive suite of financial products and services, ranging from retirement plans and annuities to life insurance, catering to both individual and institutional clients. This subsidiary thrives on its ability to navigate complex risk environments, leveraging actuarial science and financial acumen to ensure the sustainability and competitiveness of its insurance products. By crafting personalized solutions, Equitable not only safeguards the financial future of its policyholders but also aligns itself with the evolving financial landscape, thereby securing a steady stream of income from the premiums it collects.
On the other hand, AllianceBernstein, the investment management arm of Equitable Holdings, amplifies the company's financial prowess by providing a wide array of investment options, including equities, fixed income, and alternative investments. Serving institutional clients, retail investors, and private wealth individuals, AllianceBernstein channels its deep expertise in active asset management to deliver risk-adjusted returns. Its robust research framework and strategic market positioning allow it to thrive amid fluctuating economic cycles. As such, AllianceBernstein contributes significantly to Equitable Holdings' revenue through management and advisory fees, which are performance-driven and closely tied to the value of assets under management. Together, these divisions forge a cohesive financial powerhouse, driving Equitable Holdings' growth and reinforcing its commitment to helping clients achieve financial independence and peace of mind.
EPS & Cash Generation: Equitable delivered full-year non-GAAP operating earnings of $5.64 per share ($6.21 ex-notables), up 1%, and organic cash generation of $1.6 billion, in line with guidance. EPS growth was held back by elevated mortality claims.
Record Assets: Assets under management and administration ended 2025 at a record $1.1 trillion, up 10% year-over-year, supporting future fee and spread-based earnings.
Shareholder Returns: The company returned $1.8 billion to shareholders in 2025, including $500 million of buybacks after the life reinsurance deal, reducing share count by 9%.
Outlook Raised: Guidance for organic cash generation was reaffirmed at $1.8 billion for 2026 and $2 billion for 2027. EPS growth is expected to accelerate in 2026, surpassing the 12% to 15% target (ex-notables).
Business Mix & Expense Savings: Continued focus on capital-light, growth-oriented businesses. Achieved $120 million of $150 million targeted expense savings, and $110 million investment income from private markets shifts.
Mortality Risk Reduced: Life reinsurance transaction with RGA cut mortality exposure by 75%, lowering earnings volatility from this source going forward.
Wealth & Retirement Momentum: Wealth Management net inflows were $8.4 billion (13% organic growth), Retirement net flows $5.9 billion (4% organic growth). Both well ahead of targets.
AB Performance: AllianceBernstein ended 2025 with 33.7% margin (top of targeted range), strong private markets growth, but overall $11.3 billion net outflows (much from low-fee assets).
