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Equitable Holdings To Buy Back $1B In Stock; Street Is Bullish

Shares of Equitable Holdings rose 1.3% in Wednesday’s extended trading after the diversified financial services company announced a new stock repurchase program of $1 billion. Equitable Holdings’ (EQH) CFO, Anders Malmström said, “The uninterrupted execution of our capital management program highlights the strength and resiliency of our balance sheet. Combined with our strong performance amidst a challenging year, we remain confident in our ability to generate sustainable cash flows and return capital to shareholders.” Besides the share repurchase program, the company also announced a regular quarterly dividend of $0.17 per share, which will be payable on March 11 to existing shareholders as of March 4. Its annual dividend of $0.68 per share reflects a dividend yield of 2.4%. On Feb. 11, Wells Fargo analyst Elyse Greenspan maintained a Buy rating and set a price target of $31 (11.2% upside potential). The analyst also raised her earnings estimates for 4

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