Prudential Finl Stock Price, News & Analysis

Prudential Financial has launched the Prudential FlexGuard® Life, an innovative indexed variable universal life product designed to provide flexible protection and growth options. Building on the success of its FlexGuard variable annuity line, which achieved over $10 billion in total sales, the new offering aims to meet evolving consumer insurance needs. FlexGuard Life features buffered index strategies for cash value accumulation, downside protection, customizable death benefits, and accelerated benefits for chronic or terminal illnesses.

Prudential Financial, Inc. (NYSE: PRU) has declared a quarterly dividend of $1.20 per share, scheduled for payment on December 15, 2022. Shareholders of record will be those holding stock as of the close of business on November 22, 2022. As of September 30, 2022, Prudential managed over $1.3 trillion in assets, emphasizing its position as a leading global financial services firm. The company focuses on expanding access to investing, insurance, and retirement security across regions, including the U.S., Asia, Europe, and Latin America.

Prudential Financial's latest Pulse survey reveals significant shifts in younger generations' attitudes towards work and financial goals. Millennials and Gen Z favor flexibility, with many engaging in gig work or relying on family for financial support. Key findings include: 33% of millennials and 46% of Gen Z have changed jobs since the pandemic. Alarmingly, 49% of millennials and 48% of Gen Z feel their salaries are inadequate. The survey highlights women's precarious financial situations, with 41% expressing heightened economic concerns. Prudential emphasizes the need for tailored financial solutions to aid these demographics.

Prudential Financial reported a net loss of $284 million ($0.78/share) for Q3 2022, a drop from $1.530 billion ($3.90/share) in Q3 2021. Adjusted operating income also decreased to $803 million ($2.13/share) from $1.487 billion. Book value per share fell to $44.15 from $160.29, while adjusted book value decreased to $102.26. Assets under management dropped to $1.350 trillion from $1.727 trillion. The company achieved $750 million in cost savings ahead of schedule and highlighted ongoing investments in growth and strategy adaptations in response to market challenges.

Prudential Financial announces key leadership changes effective January 1, 2023. Scott Sleyster, head of International Businesses, will retire after 35 years with the company. Andy Sullivan, currently leading U.S. Businesses, will take over International Businesses and PGIM, while Caroline Feeney, president and CEO of U.S. Retirement & Insurance Businesses, is promoted to oversee U.S. Businesses. These appointments aim to ensure continuity and drive Prudential's growth in investing, insurance, and retirement security.

According to PGIM's latest research, private market funds have seen a nearly threefold increase in assets since the global financial crisis, now comprising over 35% of new capital raised in the U.S. in 2021. However, changing market conditions are posing new risks and opportunities for investors. The report highlights the challenges posed by tightening monetary policies and potential economic downturns, particularly for new entrants in private credit markets. Key considerations for investors include evaluating liquidity, secondary markets, and the integration of private alternatives into defined contribution plans.

Prudential Financial, Inc. (NYSE: PRU) is set to announce its third quarter 2022 earnings on November 1, 2022, after market closure. The release will be available on the company’s Investor Relations website. Following this, a conference call is scheduled for November 2, 2022, at 11:00 a.m. ET, to discuss earnings results with investors. Prudential, a global financial services leader, manages over $1.4 trillion in assets as of June 30, 2022.