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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. to Announce First Quarter 2024 Earnings; Schedules Conference Call

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Prudential Financial, Inc. (NYSE: PRU) will release its first quarter 2024 earnings on April 30, 2024. The company's senior management will host a conference call on May 1, 2024, to discuss the results. Prudential, a global financial services leader with $1.4 trillion in assets under management, operates in the US, Asia, Europe, and Latin America.
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Somerset Announced Close of Reinsurance Transaction With Prudential

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Somerset Reinsurance closes a $12.5 billion reinsurance transaction with Prudential Financial, Inc., covering a significant portion of Prudential's guaranteed universal life policies. The transaction solidifies Somerset's position in providing risk management solutions and strengthens the long-standing relationship between the two companies.
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Prudential Financial Completes Guaranteed Universal Life Block Reinsurance Transaction With Somerset Re

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Prudential Financial, Inc. (NYSE: PRU) has closed a reinsurance transaction with Somerset Re for a portion of its guaranteed universal life block. This move aligns with the company's strategy to lower market sensitivity and enhance capital efficiency, with financial impacts in line with previous expectations.
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PGIM Investments Wins 2024 LSEG Lipper Group Award for Mixed Assets

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PGIM Investments receives multiple 2024 LSEG Lipper Fund Awards, including the U.S. Group Award for Mixed Assets. Stuart Parker, President and CEO, expresses gratitude for the recognition of strong investment performance. Several PGIM funds also receive awards for outstanding performance in various asset classes.
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AM Best Assigns Issue Credit Rating to Prudential Financial, Inc.’s New Junior Subordinated Notes

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AM Best assigns a 'bbb' Long-Term Issue Credit Rating to Prudential Financial, Inc.'s $1 billion fixed-rate notes. The outlook is stable. Proceeds will be used for general corporate purposes, including debt redemption. Prudential's liquidity is strong, with $4.1 billion in liquid assets. Full-year 2023 pre-tax adjusted operating income was $5.5 billion.
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Prudential and RGA entrusted to fulfill $5.9 billion in pension promises for Verizon

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Prudential Financial, Inc. announces the acquisition of Assurance IQ, Inc., a leading digital consumer solutions platform. The deal is valued at $2.35 billion, aiming to enhance Prudential's ability to reach customers digitally and expand its offerings. The acquisition is expected to be accretive to EPS and ROE by 2022, providing significant growth opportunities for Prudential.
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Prudential Financial, Inc. to Redeem 5.20% Fixed-to-Floating Rate Junior Subordinated Notes due 2044

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Prudential Financial, Inc. (NYSE: PRU) plans to redeem all $500 million of its 5.20% Fixed-to-Floating Rate Junior Subordinated Notes due 2044. The redemption will occur on March 15, 2024, at a price of 100% of the principal amount plus accrued interest. The Bank of New York Mellon will handle the redemption process.
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Arizona youth honored as Prudential Emerging Visionary

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Prisha Shroff, a 17-year-old student from Chandler, was named a 2024 Prudential Emerging Visionary for her commitment to improving lives. She will receive a $5,000 award and an invitation to the 2024 summit at Prudential's headquarters.
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Connecticut youth honored as Prudential Emerging Visionaries

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Two students from Moodus and Farmington named 2024 Prudential Emerging Visionaries for their innovative projects addressing financial and societal challenges. They will receive a $5,000 award and an invitation to Prudential's headquarters in Newark, New Jersey, for coaching and networking.
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Florida youth honored as Prudential Emerging Visionaries

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Two young students from Miami and Rockledge, William Charouhis and Anjani Sharma, were named 2024 Prudential Emerging Visionaries for their impactful projects addressing societal challenges. They each received a $5,000 award and an invitation to the 2024 summit in Newark. Prudential aims to support young leaders driving positive change in their communities.
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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
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