Prudential Finl Stock Price, News & Analysis

Prudential Financial (NYSE: PRU) has declared a quarterly dividend of $1.30 per share of Common Stock, payable on December 12, 2024, to shareholders of record as of November 19, 2024. The company, a global financial services leader, manages approximately $1.6 trillion in assets as of September 30, 2024, with operations across the United States, Asia, Europe, and Latin America.

Prudential Financial reported Q3 2024 net income of $448 million ($1.24 per share), compared to a net loss of $802 million in Q3 2023. After-tax adjusted operating income was $1.260 billion ($3.48 per share), slightly down from $1.332 billion year-ago. Assets under management grew to $1.558 trillion, up from $1.361 trillion. The company returned $721 million to shareholders through $250 million in share repurchases and $471 million in dividends. Notable highlights include robust sales across U.S. and international insurance businesses, strong investment performance in PGIM, and an $11 billion Guaranteed Universal Life reinsurance transaction.

PGIM Multi-Asset Solutions (PMA) has announced key appointments to strengthen its portfolio management and risk capabilities. Mao Dong joins as co-head of Portfolio Management from Goldman Sachs Asset Management, bringing extensive experience in multi-asset portfolio management. Eoin Elliffe was hired as chief risk officer in June to enhance PMA's risk framework.

These appointments come as PMA continues to expand, having grown its AUM to $17 billion since its formation in 2022. The team aims to meet the increasing demand for complex multi-asset class portfolio construction and management from insurance, reinsurance, and pension fund clients.

PMA was recently appointed as the asset manager for an $11 billion reinsurance transaction between Prudential Financial and Wilton Re, marking its second significant reinsurance mandate.

Prudential Financial, Inc. (NYSE: PRU) has announced it will release its third quarter 2024 earnings on Wednesday, October 30, 2024, after market close. The company will host a conference call on Thursday, October 31, 2024, at 11:00 a.m. ET for the investment community to discuss the results. The earnings release, financial supplement, and related materials will be available on Prudential's Investor Relations website.

The conference call will be broadcast live on the company's website and accessible via phone. A replay will be available until November 14. Prudential Financial, a global financial services leader with approximately $1.5 trillion in assets under management as of June 30, 2024, operates in the United States, Asia, Europe, and Latin America.

PGIM, the $1.33 trillion global investment management business of Prudential Financial, Inc. (NYSE: PRU), has partnered with iJoin to expand access to PGIM RetireWell™ Managed Accounts. This integration combines PGIM's RetireWell™ Advice Engine with iJoin's goals-based user experience and portfolio allocation technology to offer a more personalized retirement planning journey for plan participants.

The PGIM RetireWell Managed Accounts, configurable as a plan's Qualified Default Investment Alternative (QDIA) or via opt-in, use proprietary methodology and patent-pending technology to create personalized retirement strategies based on individual data, preferences, and goals. The partnership aims to address the challenge of transforming savings into adequate, sustainable retirement income for American workers.

Available through iJoin-enabled recordkeepers, this collaboration offers financial advisors more product choices to make informed recommendations based on plan and participant suitability. The integration is expected to provide a highly differentiated user experience that addresses complex retirement planning needs while remaining intuitive for users.

Advent International, a leading global private equity firm, has appointed Carmine Di Sibio, former EY Global Chairman and CEO, as an Operating Partner. Di Sibio will help identify, source, and execute new deals in the business and financial services sector, working closely with Advent's team and current portfolio.

Di Sibio's nearly four-decade career at EY saw him rise from auditor to Global Chairman and CEO, where he led significant transformations focusing on digital innovation, sustainability, and geographic expansion. Under his leadership, EY invested over US$10 billion in technology, solutions, and people, achieving revenues of US$50 billion and a global workforce of 400,000.

Advent has been investing in the business and financial services sector for over 30 years, completing over 88 investments worldwide. The firm focuses on financial services providers and B2B players with technology at their core, seeking growth underpinned by robust macro trends, resilient business models, and transformational opportunities.

Aflac and Prudential Financial conducted dual studies on the impact of paid leave in the workplace, revealing significant stress on employees covering for absent coworkers. Key findings include:

• 73% of workers experienced stress and anxiety while covering for a coworker on leave
• 42% experienced burnout when covering for leaves extending beyond 9 weeks
• 48% of employers have seen an increase in employee leaves in the past 12 months
• 94% of employers report taking action to support employees covering for coworkers, but only 74% of employees acknowledge this

The studies highlight the need for effective communication and recognition to support employees maintaining business continuity during coworkers' absences. Employers are encouraged to evaluate their work environment and implement strategies to preserve employee well-being while managing increased leaves.

Prudential Financial (NYSE: PRU) has launched a Stop Loss Insurance product to help companies with self-funded employee medical plans manage the risk of high medical claim payouts. This offering allows employers to set a cap on their potential employee healthcare spend and transfer some claims volatility to Prudential.

The product suite includes Specific Stop Loss Insurance for medical and prescription drug claims, and Aggregate Stop Loss Insurance for medical, prescription drug, dental, vision, and short-term disability claims. It's available to employers with self-funded plans covering at least 100 employees.

Prudential has added new members to its dedicated Stop Loss team, including Robert Melillo as VP, head of Stop Loss Distribution, and Keshav Nair as VP, Stop Loss Operations. The company aims to leverage its strong brand, financial position, and 150 years of expertise to offer competitive rates and flexible policy options.

PGIM's 2024 Global Risk Report reveals that 56% of top institutional investors consider geopolitical risk their primary concern. Despite this, one-third plan to shift to higher-risk investments in 2025. The survey, covering 400 institutional investors across 8 countries with $9 trillion in assets, shows investors are less worried about inflation and recession.

Key findings include:

• 48% identify the Taiwan Strait and South China Sea as the most likely risk to impact global markets
• 56% say 2024 election outcomes are influencing portfolio decisions
• 29% globally have increased cash holdings due to geopolitical uncertainty
• 48% believe there are too many geopolitical risks to effectively mitigate portfolio impact

The report suggests strategies like comprehensive diversification, quantitative models, and increasing real asset allocations to manage geopolitical risk and identify emerging opportunities.