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    Is FTSE Index Removal Altering The Investment Case For Equitable Holdings Stock?

    Simply Wall St·09/26/2026 19:22:14
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    • Equitable Holdings reported two governance developments in September 2026, including its removal from the FTSE All-World Index and the planned retirement-linked departure of Seth Bernstein as Head of Asset Management.
    • The combination of index exclusion and a leadership transition in asset management highlights how Equitable Holdings must keep aligning governance, capital allocation, and distribution of assets with its broader retirement and wealth strategy.
    • In this article, we examine how Equitable Holdings' investment narrative is affected by the FTSE All-World Index removal and the related governance shifts.

    Compare how Equitable Holdings' situation stacks up against other retirement focused financial stocks by scanning our hand picked list of solid balance sheet and fundamentals (24 results) for potential alternatives.

    Equitable Holdings Investment Narrative Recap

    To own Equitable Holdings, you need to be comfortable with a story built around retirement demand, fee based businesses and the Corebridge merger actually delivering on integration and expense plans. The recent FTSE All World index removal and Seth Bernstein’s planned retirement linked exit look more like sentiment and governance events than changes to day to day operations.

    The near term swing factor still sits in execution on Corebridge integration, expense savings and stabilising revenue after earlier GAAP pressure. A key risk remains that runoff of higher margin RILA products, softer alternatives results or choppy life and retirement flows leave profitability and cash generation weaker than many investors expect.

    The governance development that matters most here is Seth Bernstein stepping down as Head of Asset Management at Equitable Holdings as he retires from AllianceBernstein entities. Asset management is central to the Corebridge tie up, since management plans involve directing Corebridge assets, commercial mortgage loans and separate account assets to AllianceBernstein over time.

    Any change at the top of that unit raises practical questions for investors around continuity of product strategy, investment performance and the pace of onboarding new assets. The thesis around higher margin fee income, a larger retirement platform and identified cost saves stays intact, but investors will likely watch execution in asset management more closely as leadership transitions.

    Equitable Holdings Earnings And Valuation Assumptions

    Equitable Holdings is being valued on a set of fairly specific expectations. Analysts are building their models around retirement flows, asset management fees and the Corebridge merger story, then tying that to explicit revenue and profit forecasts. That gives you a concrete yardstick to compare against your own view of how the integration and retirement demand might play out.

    Equitable Holdings' narrative projects US$18.3b revenue and US$2.2b earnings by 2029. This assumes 19.9% yearly revenue growth and an earnings increase of about US$3.2b from current earnings of a US$982.0m loss.

    On the earnings line, the shift is sizeable. Analysts expect the business to move from a reported loss of US$982.0m today to US$2.2b of profit by 2029, with profit margins moving from 9.2% in the red to 12.2% in the black. That change underpins the move in the assumed P/E ratio from a loss based reading of 15.0x today to a positive 8.3x multiple on those 2029 earnings, which is below the 17.4x level cited for the wider US diversified financial peer group.

    Revenue expectations are equally specific. Consensus models use a 19.9% annual top line growth rate over the next three years to bridge to US$18.3b of sales by 2029, helped by the planned Corebridge tie up and fee based businesses. Forecasts also factor in a 4.71% yearly decline in the number of shares outstanding over the next three years, which would spread those projected earnings over a smaller share count and lift earnings per share to a guided US$9.99 by 2029.

    For valuation, the analyst group has clustered around a US$62.09 price target for Equitable Holdings, with the most optimistic at US$68.00 and the most cautious at US$52.00. That target framework assumes the stock trades on about 8.3x the 2029 consensus earnings of US$2.2b, discounted back using an 8.1% rate, and compared with a current share price of US$53.87 that sits 13.2% below the central target.

    For you as an investor, the key question is simple. Do those revenue and earnings paths, plus a move to a 12.2% margin and a lower than industry P/E, feel realistic given everything you know about the Corebridge integration, fee income mix and retirement market dynamics? The answer to that question will matter more to your long term outcome than short term governance headlines or index membership changes.

    Uncover why Equitable Holdings' fair value indicates a 15% potential upside to its current price that may not last much longer.

    NYSE:EQH 1-Year Stock Price Chart
    NYSE:EQH 1-Year Stock Price Chart

    Exploring Other Perspectives

    Three fair value estimates from the Simply Wall St Community stretch from about US$62 to an extreme outlier above US$358,000, which shows how far opinions on Equitable Holdings can spread. When you set that against the pending leadership change in asset management and the FTSE index exit, it serves as a reminder to test several viewpoints before deciding how this stock fits your own retirement focused portfolio.

    Explore 2 other Equitable Holdings fair value estimates, including one that suggests it could be worth just $62.09.

    Reach Your Own Conclusion

    Disagree with existing narratives? Extraordinary investment returns rarely come from following the herd, so consider your own analysis and judgment.

    Looking for more Equitable Holdings investment ideas?

    If Equitable Holdings is already on your radar, it can help to line it up against other opportunities that fit different goals, risk levels and income needs. The Simply Wall St Screener lets you scan for stocks that match specific criteria so you can build a watchlist that suits how you invest.

    • For investors who care most about downside protection and capital resilience, consider starting with a 30 resilient stocks with low risk scores that appear better able to handle tougher conditions.
    • If you are hunting for potential mispricing, compare Equitable Holdings with a 32 high quality undervalued stocks that combine quality fundamentals with more modest expectations baked into their prices.
    • Those focused on income can broaden their search beyond Equitable Holdings by checking out 8 dividend fortresses that aim to deliver meaningful yield alongside balance sheet strength.

    This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.