Equitable Joins S&P MidCap 400 Index
Equitable Holdings uses S&P Dow Jones investment indexes in its products, and now its own stock will show up in a key S&P Dow Jones index.
S&P Dow Jones Indices has announced plans to put Equitable’s stock in the S&P MidCap 400 Index, an index for midsize stocks, starting Dec. 18.
Mark Pearson, the CEO of Equitable, said in a comment about the listing that he believes it will increase the company’s visibility.
“We see significant opportunity ahead for growth, underscored by favorable demographic trends, as we continue to meet our clients’ needs for advice, retirement income and asset management,” Pearson said.
What it means: What makes Equitable’s stock more visible could make life insurance companies, life insurance and annuities more visible, both to stock investors and to clients thinking about how to allocate their retirement nest eggs.
Equitable Holdings: Equitable is the New York-based parent of AllianceBernstein, an asset manager, and of the Equitable insurance business.
Equitable was founded in 1859 and later spent decades as part of AXA S.A. of Paris.
