Equitable
Combines retirement products, financial advice, and AllianceBernstein asset management under one holding company.
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Profile
Provides retirement and protection products, financial advice through Equitable Advisors, and investment management through a controlling interest in AllianceBernstein. The holding-company structure links US insurance and adviser distribution with asset management, while a pending all-stock merger with Corebridge remains subject to shareholder and regulatory approvals.
Provides retirement and protection products through the Equitable franchise, financial advice through Equitable Advisors, and investment management through a controlling economic interest in AllianceBernstein. Current reporting groups the business into Retirement, Asset Management, and Wealth Management, with the retirement-and-protection franchise centered in the US.
The operating structure connects insurance manufacturing with adviser distribution, while AllianceBernstein adds distinct asset-management capabilities. Its modern form reflects demutualization, AXA ownership, a return to independent public markets, and adoption of the Equitable identity.
Business outcomes depend on insurance liabilities, adviser distribution, and asset-management performance. The announced all-stock merger with Corebridge remains pending shareholder votes, regulatory approvals, and other closing conditions; until it closes, Mark Pearson remains CEO and New York remains headquarters.
Company facts
Categories
Key statistics
Year to date +4.6% · Average volume (30d) 2.7M
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Rating | Prior target | Target |
|---|---|---|---|---|---|
| Aug 20, 2026 | Evercore ISI | Reiterate | Outperform | $63 | $66 |
| Aug 19, 2026 | Wells Fargo | Reiterate | Overweight | $57 | $64 |
| Aug 6, 2026 | Mizuho Securities | Target | $62 | $68 | |
| Aug 5, 2026 | Barclays | Reiterate | Overweight | $50 | $52 |
| Jul 10, 2026 | Jefferies | Reiterate | Buy | $51 | $66 |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Aug 4, 2026Q2 FY26 | $1.65 | $1.70 | +3.0% | $3.84B | $1.66B | −56.9% | +6.32% |
| May 4, 2026Q1 FY26 | $1.60 | $1.62 | +1.3% | $3.95B | $4.23B | +7.1% | +6.15% |
| Feb 4, 2026Q4 FY25 | $1.75 | $1.76 | +0.6% | $3.95B | $3.28B | −17.0% | −3.12% |
| Nov 4, 2025Q3 FY25 | $1.61 | $1.48 | −8.1% | $3.50B | $1.45B | −58.5% | −7.45% |
Financial highlights
| 12 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $3.90B | $2.36B | $1.45B | $3.28B | $4.23B | $1.66B | |
| Gross profit | $3.15B | $717.0M | −$246.0M | $2.89B | $3.84B | $1.24B | |
| Operating income | $174.0M | −$363.0M | −$1.35B | $344.0M | $887.0M | −$493.0M | |
| Net income | $63.0M | −$349.0M | −$1.31B | $215.0M | $621.0M | −$453.0M | |
| Diluted EPS | $0.16 | −$1.21 | −$4.47 | $0.70 | $2.14 | −$1.67 | |
| Gross margin | 80.6% | 30.4% | -17.0% | 88.1% | 90.7% | 74.7% | |
| Operating margin | 4.5% | -15.4% | -93.0% | 10.5% | 21.0% | -29.7% |
Fiscal years (4-quarter sums)FY21 $11.04B · FY22 $12.72B · FY23 $10.53B · FY24 $12.33B · FY25 $10.99B
Revenue by product · Q2 FY26
Balance sheet, Jun 30, 2026Cash & short-term investments $58.60B · Total debt $3.84B · Total assets $334.66B · Shareholders' equity −$785.0M
Dividends
Raised for 6 straight years — most recently to $0.30 from $0.27 in Jun 2026. To collect a payout, hold shares through the close before the ex-date.
History
| Ex-date | Record | Paid | Amount | Note |
|---|---|---|---|---|
| Aug 3, 2026 | Aug 3 | Aug 10 | $0.30 | |
| Jun 1, 2026 | Jun 1 | Jun 8 | $0.30 | raised from $0.27 |
| Mar 4, 2026 | Mar 4 | Mar 11 | $0.27 | |
| Nov 24, 2025 | Nov 24 | Dec 1 | $0.27 | |
| Aug 5, 2025 | Aug 5 | Aug 12 | $0.27 | |
| Jun 2, 2025 | Jun 2 | Jun 9 | $0.27 | raised from $0.24 |
| Mar 5, 2025 | Mar 5 | Mar 12 | $0.24 | |
| Nov 26, 2024 | Nov 26 | Dec 3 | $0.24 |
Ownership
A 13F quarter can total more than the shares outstanding — sub-advisers file the same block twice, and a filer's own share count can be a quarter stale. No split is drawn from it.
Shares outstanding 272.96M · Float 271.29M · 99.4% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| BlackRock, Inc. | 25.90M | 9.49% | 13F | Aug 7, 2026 |
| Norges Bank | 18.33M | 6.71% | 13F | Aug 12, 2026 |
| Price T Rowe Associates Inc /MD/ | 18.19M | 6.66% | 13F | Aug 14, 2026 |
| T. Rowe Price Associates, Inc. | 16.79M | 5.50% | 13G | Aug 14, 2025 |
| Vanguard Portfolio Management LLC | 13.44M | 4.93% | 13F | Aug 13, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Aug 17, 2026 | Jeffrey J. Hurd | officer: Chief Operating Officer | −14,359 | $51.98 |
| Aug 11, 2026 | Craig C. MacKay | director | −2,200 | $51.37 |
| Aug 6, 2026 | Charles G.T. Stonehill | director | −7,500 | $51.54 |
| Aug 6, 2026 | Bertram L. Scott | director | −1,466 | $51.15 |
| Aug 10, 2026 | William James IV Eckert | officer: Chief Accounting Officer | −947 | $52.88 |
Peers
- Ameriprise Financial
Integrated rival across advice, asset management, and retirement products
- Prudential Financial
Broad overlap in retirement solutions and institutional asset management
- Lincoln Financial
Direct overlap in annuities and employer-sponsored retirement plans
- Jackson Financial
Annuity specialist with direct overlap in variable and indexed products
- BlackRock
Global scale rival in institutional, retail, and multi-asset investing
- T. Rowe Price
Active-manager rival in funds, institutional mandates, and retirement investing
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Equitable | $49.68 | −1.04% | $13.70B | — | 6.2 | 1.3 | −29.8% |
| Ameriprise Financial | $564.76 | +0.97% | $50.28B | 13.5 | 11.4 | 2.5 | +14.6% |
| Prudential Financial | $119.79 | +0.01% | $41.57B | 10.8 | 8.5 | 0.6 | +2.8% |
| Lincoln Financial | $43.25 | −0.07% | $8.29B | 3.7 | 5.3 | 0.4 | +21.2% |
| Jackson Financial | $134.00 | −0.07% | $9.36B | 172.0 | 4.5 | 1.4 | — |
| BlackRock | $1,163.84 | −0.03% | $180.49B | 27.8 | 19.5 | 6.6 | +30.6% |
| T. Rowe Price | $111.60 | +0.32% | $23.84B | 11.2 | 10.8 | 3.1 | +10.7% |
| Median | 12.3 | 9.7 | 2.0 | +14.6% |