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Prudential Financial, Inc. - PRU STOCK NEWS

Welcome to our dedicated page for Prudential Financial news (Ticker: PRU), a resource for investors and traders seeking the latest updates and insights on Prudential Financial stock.

Prudential Financial, Inc. (NYSE: PRU) has been a pillar in the financial services sector for over 140 years, providing comprehensive financial products and services to both individual and institutional clients. Known for their iconic Rock® symbol, Prudential exemplifies strength, stability, and innovation.

With operations spanning across the United States, Asia, Europe, and Latin America, Prudential has established itself as a global leader in financial services. The company manages over $1.5 trillion in assets, offering a range of products including annuities, life insurance, retirement plan services, and asset management. Its investment management business, PGIM, plays a significant role, contributing approximately 10% of the company’s earnings and managing around $1.3 trillion in assets.

The bulk of Prudential's revenue is generated in the United States and Japan. In the U.S., business operations are divided into several segments: Institutional Retirement Strategies, Individual Retirement Strategies, Group Insurance, Individual Life Insurance, and Assurance IQ. The international segment, which accounts for approximately 40% of earnings, holds a robust market presence in Japan.

Prudential’s commitment to innovation and excellence is evident in its strategic partnerships and ongoing projects. For instance, PGIM Real Estate, Prudential's global asset management arm, has ventured into a $600 million joint initiative with Equinix to develop the SV12x data center in Silicon Valley. This project underscores Prudential's drive to expand its digital infrastructure, ensuring scalable and agile solutions for the future of digital services.

In addition to its financial prowess, Prudential is committed to social responsibility. The Prudential Emerging Visionaries program, in partnership with Ashoka, celebrates young leaders addressing financial and societal challenges. This initiative aligns with Prudential's vision of fostering financial inclusivity and societal impact.

Financial stability is a hallmark of Prudential. Recent collaborations, such as the group annuity contract with Metallus Inc. for terminating the TimkenSteel Corporation Retirement Plan, showcase Prudential's expertise in managing complex financial arrangements, further solidifying its reputation as a trusted entity in the financial sector.

Prudential’s strategic approach, innovative initiatives, and commitment to community support make it a significant player in the financial services industry.

News

Prudential Financial, Inc. Announces Second Quarter 2023 Results

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Prudential Financial, Inc. (NYSE: PRU) reported a net income of $511 million ($1.38 per Common share) for the second quarter of 2023, compared to a net loss of $1.010 billion ($2.71 per Common share) for the second quarter of 2022. After-tax adjusted operating income was $1.087 billion ($2.94 per Common share) for the second quarter of 2023, compared to $895 million ($2.34 per Common share) for the second quarter of 2022. The company's assets under management were $1.415 trillion, and capital returned to shareholders was $713 million in the second quarter.
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PGIM launches AAA CLO ETF (PAAA) and short duration multi-sector ETF (PSDM)

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Prudential Financial to Reinsure $12.5B Guaranteed Universal Life Block with Somerset Re

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Prudential Financial, Inc. (NYSE: PRU) announces a reinsurance agreement with Somerset Re, resulting in approximately $450 million in proceeds. The transaction covers approximately $12.5 billion of reserves backing Prudential’s guaranteed universal life policies, reducing market sensitivity and increasing capital flexibility. The agreement does not impact customers and distribution partners.
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Prudential Financial issues 2022 Sustainability Report

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Prudential Financial, Inc. (NYSE: PRU) releases its annual sustainability report, highlighting efforts in employee well-being, societal engagement, product innovation, governance, cybersecurity, ethics, and climate risk and resilience. The report also showcases the company's achievements in expanding access to financial security, empowering talent, supporting communities, and sustainable investments.
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Prudential Financial signs on as title sponsor for Brick City HBCU Kickoff Classic at Red Bull Arena

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Prudential Financial (PRU) signs on as title sponsor for Brick City HBCU Kickoff Classic, featuring Grambling State University and Hampton University. The sponsorship is part of Prudential's commitment to deepen investments within the Black community and drive economic inclusion and generational wealth. The event aims to increase awareness of HBCUs and have a direct impact on the city of Newark through scholarship awards, partnerships, and local economic development.
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Prudential and Nayya partner to bring personalized benefits to millions of American employees

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Prudential Financial, Inc. has partnered with Nayya to provide employees with a benefits decision support tool. The tool aims to help employees understand their benefit options and make informed decisions. This partnership comes as healthcare costs and complexity continue to rise in the U.S.
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PGIM Private Capital provides nearly $6.7B of senior debt and junior capital globally in 1H 2023

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PGIM Private Capital provided nearly $6.7 billion of senior debt and junior capital to more than 120 middle-market companies and projects globally in the first half of 2023.
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PGIM Fixed Income names Tom Porcelli as chief US economist

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Prudential Financial, Inc. to Announce Second Quarter 2023 Earnings; Schedules Conference Call

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Prudential Financial appoints Nandini Mongia as president, Open-Architecture Solutions

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FAQ

What is the current stock price of Prudential Financial (PRU)?

The current stock price of Prudential Financial (PRU) is $127.41 as of November 15, 2024.

What is the market cap of Prudential Financial (PRU)?

The market cap of Prudential Financial (PRU) is approximately 45.3B.

What is Prudential Financial, Inc. known for?

Prudential Financial, Inc. is known for providing comprehensive financial products and services, including life insurance, annuities, retirement plan services, and asset management. Its iconic Rock® symbol stands for strength, stability, and innovation.

Where does Prudential Financial, Inc. operate?

Prudential operates in the United States, Asia, Europe, and Latin America, with significant market presence in these regions.

What is PGIM?

PGIM is the global investment management business of Prudential Financial, Inc., contributing approximately 10% of the company’s earnings and managing around $1.3 trillion in assets.

What recent projects is Prudential involved in?

Prudential, through PGIM Real Estate, has entered into a $600 million joint venture with Equinix to develop the SV12x data center in Silicon Valley, showcasing their commitment to expanding digital infrastructure.

How does Prudential support social initiatives?

Prudential supports social initiatives through programs like the Prudential Emerging Visionaries, which recognizes young leaders addressing financial and societal challenges, in partnership with Ashoka.

What financial products does Prudential offer?

Prudential offers a variety of financial products including annuities, life insurance, retirement plan services, and investment management solutions.

How has Prudential demonstrated financial stability?

Prudential has demonstrated financial stability through strategic collaborations, such as the group annuity contract with Metallus Inc., showcasing their expertise in managing complex financial arrangements.

What is Prudential's commitment to innovation?

Prudential's commitment to innovation is evident in their ongoing projects and strategic partnerships, such as the development of the SV12x data center with Equinix, ensuring scalable and agile solutions for digital services.

What is the financial scope of Prudential's operations?

Prudential manages over $1.5 trillion in assets and generates significant revenue from its operations in the United States and Japan.

How does Prudential contribute to financial inclusivity?

Prudential contributes to financial inclusivity through programs like the Prudential Emerging Visionaries, which aim to support young leaders in creating innovative solutions to financial and societal challenges.

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Prudential Financial, Inc.

NYSE:PRU

PRU Rankings

#301 Ranked by Market Cap
#730 Ranked by Dividends

PRU Stock Data

45.30B
357.70M
0.16%
59.62%
1.64%
Insurance - Life
Life Insurance
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United States of America
NEWARK