Equitable(US:EQH)2024-02-07 15:58Financial Performance - Full year non-GAAP operating earnings per share reached $4.59, and $5.13 after adjusting for notable items[54] - The company generated $1.3 billion in cash flow, aligning with the 2023 guidance, with over 55% originating from non-insurance subsidiaries[54] - The company returned $1.2 billion to shareholders, exceeding the 60-70% payout target, and the board approved a new $1.3 billion buyback authorization[54] - Non-GAAP Operating Earnings adjusted for notable items was $479 million, or $1.34 per share, up 20% year-over-year and up 3% from the previous quarter[85,109] Growth & Strategic Initiatives - Retirement saw full year net inflows of $5.3 billion, while Wealth Management experienced $3.0 billion of advisory net inflows[55] - AB Private Markets AUM increased by 9% year-over-year[55,67] - Total AUA in Wealth Management reached $87 billion, a 20% year-over-year increase, with $55 billion in advisory AUA[65] - Annualized premiums in Protection Solutions increased by 40% year-over-year in Life and 32% in Employee Benefits[19] Portfolio & Investment - The company's investment portfolio is conservatively positioned, with 50% allocated to U S Treasury, Gov't and Agency bonds, totaling $99 billion[3] - The alternative investment portfolio has shown strong returns over time, with a historical average return of +10.4% since 2013[147] - The company has committed $1.6 billion to impact investing towards a goal of $1-2 billion[75]