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.
PGIM Investments plans to close and liquidate three ETFs: the PGIM QMA Strategic Alpha Large-Cap Core ETF (PQLC), PGIM QMA Strategic Alpha Small-Cap Growth ETF (PQSG), and PGIM QMA Strategic Alpha Small-Cap Value ETF (PQSV). The last trading day for these ETFs will be October 4, 2021, with the final operations ceasing on October 12, 2021.
PGIM, under Prudential Financial (NYSE: PRU), manages over $1.5 trillion in assets, ranking among the top asset managers globally.
PGIM, part of Prudential Financial (NYSE: PRU), has appointed Linda Gibson as CEO of its rebranded PGIM Quantitative Solutions effective October 15. Gibson, with nearly 30 years in asset management, aims to enhance customized solutions for clients. The firm is also launching PGIM DC Solutions for retirement income, building on $214 billion in DC assets managed. This rebranding, effective September 28, reflects its integration with PGIM. Previous CEO Andrew Dyson steps down for personal reasons but will advise until March 2022.
Prudential Financial (NYSE: PRU) announced its sponsorship of the Curtain Up! event in
Prudential Financial (NYSE: PRU) has entered a definitive agreement to sell a portion of its legacy variable annuity block to Fortitude Re for $2.2 billion. The transaction involves Prudential Annuities Life Assurance Corporation and includes an all-cash purchase price of $1.5 billion. This deal reduces Prudential's exposure to traditional variable annuities, enhancing capital efficiency and aligns with its strategy for organic growth in protected outcome solutions. Following the transaction, Prudential will maintain service operations for these contracts without significant impact on its workforce.
PGIM Investments is launching two new funds: the PGIM Jennison NextGeneration Global Opportunities Fund and the PGIM Jennison International Small-Mid Cap Opportunities Fund. Managed by Jennison Associates, these funds target small and mid-cap companies globally and internationally. The investment strategy seeks early access to innovative growth companies in sectors like technology and healthcare. PGIM's existing funds boast strong performance, with over
PGIM Fixed Income, part of Prudential Financial (NYSE: PRU), announced senior leadership changes effective January 1, 2022. John Vibert will become president, transitioning from head of Securitized Products. Craig Dewling and Gregory Peters will assume co-CIO roles, taking over from Michael Lillard. The appointments underscore PGIM's growth in assets, having increased threefold over the past decade, and aim to enhance its investment performance and service. PGIM Fixed Income manages $954 billion in assets as of June 30, 2021.
PGIM Investments' recent survey of over 500 financial advisors reveals a significant reliance on active management strategies, with 62% allocating client assets actively. Advisors are increasingly using active management to meet investment objectives, particularly in volatile markets. Key findings include a preference for active strategies to access emerging markets, protect against declines, and achieve reliable income. The impact of COVID-19 on portfolio construction is prominent, with 76% of advisors indicating its influence. The survey highlights a shift towards more ETFs and ESG strategies in the coming years.
Prudential Financial, Inc. (NYSE: PRU) has announced its sponsorship of USA Climbing, celebrating American athletes in the sport's Olympic debut. This partnership aims to support training and travel for athletes, enhancing their global presence. Prudential's chief marketing officer emphasized the synergy between climbing and the company's values of strength and resilience. The initiative also aims to introduce climbing to diverse communities and promote participation among all ages. Prudential's iconic Rock symbol aligns with its commitment to financial security and resilience.
Prudential Financial, Inc. (NYSE: PRU) declared a quarterly dividend of $1.15 per share, payable on September 16, 2021. Shareholders of record will be those on the books by the close of business on August 24, 2021. With over $1.5 trillion in assets under management as of June 30, 2021, Prudential continues to solidify its position as a global financial services leader, operating across the U.S., Asia, Europe, and Latin America, and is committed to enhancing financial opportunities for individuals.
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