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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 introduces its next class of Emerging Visionaries

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Prudential Financial honors 25 young leaders as the latest class of Prudential Emerging Visionaries for their innovative solutions to financial and societal challenges. The program aims to support young leaders in driving positive change in their communities, aligning with Prudential's purpose of solving financial challenges in a changing world.
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Prudential assumes $4.9 billion in pension obligations for 21,500 Shell U.S. retirees

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Prudential Financial, Inc. (NYSE: PRU) closed a pension risk transfer transaction with Shell USA, Inc. for $4.9 billion in pension obligations, marking the first jumbo transaction of 2024 in the U.S. pension risk transfer market. This deal underscores the continued momentum in the market and highlights Prudential's strong position in managing pension risk. The transaction is expected to have a positive impact on Prudential's financials, demonstrating the company's ability to secure large-scale deals and solidify its presence in the industry.
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Prudential Announces Group Insurance Leadership Transition

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Prudential Financial, Inc. (NYSE: PRU) announced that Mike Estep will succeed Yanela Frias as president of its Group Insurance business following Frias’ appointment as Prudential’s CFO. The change is effective March 15, 2024. Estep will report to Caroline Feeney, head of Prudential’s U.S. Businesses. Since joining Prudential as head of product for Group Insurance in 2022, Estep has led all aspects of product strategy, including the development of a strategic roadmap for Group’s current and future product portfolio with a focus on customer relevancy and sustainable, profitable growth. Jess Gillespie will succeed Estep as head of product for Group Insurance. Over her more than 20-year career at Prudential, Gillespie has held leadership positions spanning strategic partnerships, national accounts, and distribution. Both promotions are indicative of the value of their contributions to the organization and the progress made toward the vision of becoming a global leader in expanding access to investing, insurance, and retirement security.
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Prudential Announces Chief Financial Officer Transition

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Prudential Financial, Inc. (NYSE: PRU) has announced the appointment of Yanela Frias as the new executive vice president and CFO, effective March 15, 2024, succeeding Ken Tanji. Frias, who has nearly three decades of experience with the company, will join the executive leadership team and report to Robert Falzon, vice chair of Prudential. Tanji will remain with the company through Sept. 30, 2024, to ensure a smooth transition. The company expressed gratitude for Tanji's 35 years of distinguished service and highlighted Frias' extensive finance, operations, and leadership experience. Frias has held senior leadership positions across finance, operations, and Prudential’s Insurance and Retirement businesses, and has a proven track record of leading large, complex organizations. Her appointment is part of Prudential's strategy to become a higher-growth, less market-sensitive, and more nimble company, aiming to create lasting value for customers, shareholders, and employees.
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Prudential Financial, Inc. Announces 2023 Results(1)

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Prudential Financial, Inc. (PRU) reported a net income of $2.488 billion or $6.74 per Common share for 2023, compared to a net loss of $1.647 billion or $4.49 per share for 2022. After-tax adjusted operating income was $4.286 billion or $11.62 per Common share for 2023, versus $3.914 billion or $10.31 per share for 2022. Assets under management were $1.450 trillion, and the company's Board of Directors authorized the repurchase of up to $1.0 billion of outstanding Common Stock during 2024.
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Retirement Confidence for American Workers Has Been Low Since 2022, According to New PGIM RetireWell™ Confidence Index

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PGIM, the investment management business of Prudential Financial, Inc., reports that retirement and financial confidence have been below average since Q2 2022. The gap between financial and retirement confidence has widened significantly since the start of 2022, indicating potential investor worry despite feeling secure in their investments today.
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PGIM, UNCF Study Finds Private HBCU Endowments Need Investment Support

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A joint study by UNCF and PGIM, the global asset management business of Prudential Financial, Inc. (NYSE: PRU), highlights the challenges faced by Historically Black colleges and universities (HBCUs) in growing their endowments. The study aims to explore how the asset management industry can collaborate with HBCUs to optimize investment returns for long-term growth. The research emphasizes the limited resources of private HBCUs compared to non-HBCUs, affecting their ability to manage risk and make asset allocation decisions.
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Prudential launches SimplyIncome for workplace retirement plans on Fidelity Investments™ platform

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Prudential Financial, Inc. has announced a collaboration that will expand access to retirement security for over 100,000 plan participants. The partnership aims to provide better financial opportunities for a large number of individuals.
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Rutgers Athletics has a new partner on the bench: Prudential Financial

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Prudential Financial, Inc. signs a partnership with Rutgers University's men’s and women’s basketball teams, providing access to financial education and funded investment accounts for student-athletes. Prudential advisors will offer consultations and seminars, aiming to improve financial literacy and long-term wealth management for young athletes.
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Prudential Financial, Inc. to Announce Fourth Quarter 2023 Earnings; Schedules Conference Call

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Prudential Financial, Inc. (NYSE: PRU) will release its fourth quarter 2023 earnings on Tuesday, February 6, 2024, after the market closes. The company's diverse and talented employees help make lives better and create financial opportunity for more people by expanding access to investing, insurance, and retirement security. Prudential is a global financial services leader and premier active global investment manager with approximately $1.4 trillion in assets under management as of September 30, 2023, operating in the United States, Asia, Europe, and Latin America.
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FAQ

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

The current stock price of Prudential Financial (PRU) is $117.83 as of December 20, 2024.

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

The market cap of Prudential Financial (PRU) is approximately 41.2B.

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

#314 Ranked by Market Cap
#689 Ranked by Dividends

PRU Stock Data

41.23B
355.33M
0.16%
59.49%
1.67%
Insurance - Life
Life Insurance
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United States of America
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