Prudential Financial, Inc., together with its subsidiaries, provides insurance, investment management, and other financial products and services in the United States and internationally. It operates through eight segments: PGIM, Retirement, Group Insurance, Individual Annuities, Individual Life, Assurance IQ, International Businesses, and Closed Block. The company offers investment management services and solutions related to public fixed income, public equity, real estate debt and equity, private credit and other alternatives, and multi-asset class strategies to institutional and retail clients, as well as its general account. It provides a range of retirement investment, and income products and services to retirement plan sponsors in the public, private, and not-for-profit sectors; and group life, long-term and short-term group disability, and group corporate-, bank-, and trust-owned life insurance in the United States, primarily to institutional clients for use in connection with employee and membership benefits plans, as well as sells accidental death and dismemberment and other supplemental health solutions, and provides plan administration services in connection with its insurance coverages. The company develops and distributes individual variable and fixed annuity products, principally to the mass affluent and affluent markets; and individual variable, term, and universal life insurance products to the mass middle, mass affluent, and affluent markets in the United States. In addition, it provides third-party life, health, Medicare, property and casualty, and personal finance products to retail shoppers through its digital and independent agent channels. The company offers its products and services to individual and institutional customers through its proprietary and third-party distribution networks. Prudential Financial, Inc. was founded in 1875 and is headquartered in Newark, New Jersey.
IPO Year: 2001
Exchange: NYSE
Website: prudential.com
| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 10/9/2024 | $130.00 | Hold | TD Cowen |
| 9/5/2024 | $118.00 | Equal Weight | Barclays |
| 8/12/2024 | $113.00 | Underweight → Equal Weight | Wells Fargo |
| 5/22/2024 | $121.00 → $143.00 | Hold → Buy | Jefferies |
| 2/9/2024 | Strong Buy → Mkt Perform | Raymond James | |
| 1/3/2024 | $119.00 → $118.00 | Overweight → Neutral | JP Morgan |
| 10/5/2023 | $99.00 | Hold | Deutsche Bank |
| 9/14/2023 | $70.00 → $93.00 | Underperform → Hold | Jefferies |
| 8/24/2023 | $125.00 | Mkt Perform → Strong Buy | Raymond James |
| 4/4/2023 | $114.00 | Neutral → Overweight | JP Morgan |
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Net income attributable to Prudential Financial, Inc. of $448 million or $1.24 per Common share versus net loss of $802 million or $2.23 per share for the year-ago quarter. After-tax adjusted operating income of $1.260 billion or $3.48 per Common share versus $1.332 billion or $3.62 per share for the year-ago quarter. Book value per Common share of $84.47 versus $70.82 per share for the year-ago quarter; adjusted book value per Common share of $98.71 versus $94.19 per share for the year-ago quarter. Parent company highly liquid assets(1) of $4.3 billion, in-line with the year-ago quarter. Assets under management(2) of $1.558 trillion versus $1.361 trillion for the year-ago quarter.
PGIM Multi-Asset Solutions (PMA) has appointed Mao Dong as co-head of Portfolio Management. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20241009388611/en/"Our insurance, reinsurance and pension fund clients increasingly require complex multi-asset class portfolio construction and management. Mao's appointment is another important milestone in building PGIM's multi-asset solutions business to meet the needs of those clients." -- Phil Waldeck, CEO, PGIM Multi-Asset Solutions (Photo: Business Wire) Dong joins PGIM from Goldman Sachs Asset Management (GSAM), where he spent over 14 years, most recently as co-head of OCIO Portfolio Ma
Prudential Financial, Inc. (NYSE:PRU) will release its third quarter 2024 earnings on Wednesday, October 30, 2024, after the market closes. The earnings news release, the financial supplement, and related materials will be posted on the company's Investor Relations website at investor.prudential.com. Members of Prudential's senior management will host a conference call on Thursday, October 31, 2024, at 11:00 a.m. ET to discuss with the investment community the company's third quarter results. Conference Call Information The conference call will be broadcast live over the company's Investor Relations website at investor.prudential.com. Please log on 15 minutes early in the event necessary
New offering raises the bar on personalized advice at scale to help savers reach retirement goals PGIM,1 the $1.33 trillion global investment management business of Prudential Financial, Inc. ((PRU), and iJoin, a leading retirement plan technology innovator, have announced that the PGIM RetireWell™ Managed Accounts — a highly personalized offering — will soon be available to the growing list of iJoin-enabled recordkeepers through its Managed Account Program (MAP) marketplace. This integration leverages the power of the PGIM RetireWell™ Advice Engine in combination with iJoin's goals-based user experience, portfolio allocation technology, and a plan advisor's investment lineup to enable a m
Advent International ("Advent"), one of the largest and most experienced global private equity investors, today announced the appointment of former Ernst & Young LLP ("EY") Global Chairman and CEO Carmine Di Sibio as an Operating Partner. Di Sibio will play an active role in helping the firm identify, source and execute new deals in the business and financial services space and will work closely with Advent's team and current portfolio of investments. "We are thrilled to welcome Carmine to our growing roster of talented, specialized and hands-on Operating Partners," said Chris Egan, Managing Partner at Advent. "After a distinguished career of nearly four decades at EY, Carmine brings an in
New offering allows employers with self-funded medical plans to manage the risk of high medical claim payouts Prudential Financial, Inc. ((PRU) has introduced a Stop Loss Insurance product aimed at helping protect companies with self-funded employee medical plans against catastrophic medical claim payouts. With Stop Loss Insurance, employers can set a cap on their potential employee healthcare spend and transfer some of the claims volatility to The Prudential Insurance Company of America. "Self-funding medical plans can be a great way to save money and gain more control for employers, but it means taking on the potential risk from catastrophic claims," said Jess Gillespie, head of Pruden
A new survey from PGIM, the $1.33 trillion global asset management business of Prudential Financial, Inc. ((PRU),* finds that amid trade tensions between the U.S., Europe and China, major elections in over 70 countries this year, military conflicts, and structural changes in the global economy, more than half of top institutional investors (56%) say the threat level to their investments from geopolitical risk is their top concern. Even so, one-third plan a shift to higher-risk investments in 2025. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240910050196/en/Read PGIM's 2024 Global Risk Report: Resilient Investing Amid Geopolitic
PGIM High Yield Bond Fund, Inc. (NYSE:ISD), PGIM Global High Yield Fund, Inc. (NYSE:GHY) and PGIM Short Duration High Yield Opportunities Fund (NYSE:SDHY) declared today monthly distributions for September, October and November 2024. The distribution amounts and schedule for each fund appears below: Fund Name Ticker Distribution Per Share Change from Prior Distribution PGIM High Yield Bond Fund, Inc. ISD $0.105 – PGIM Global High Yield Fund, Inc. GHY $0.105 – PGIM Short Duration High Yield Opportunities Fund SDHY $0.108 – Month Ex-Date Record Date Payable Date
The Prudential Insurance Company of America has been selected in an industry-first multiemployer plan pension risk transfer (PRT), to fulfill retirement benefit promises for the Sound Retirement Trust, a Seattle-based joint labor-management board of trustees that provides grocery workers of contributing employers with retirement benefits. The transaction will settle approximately $221 million of Sound Retirement Trust pension liabilities and provide added retirement security for approximately 8,700 retirees and their beneficiaries. "Prudential is proud to help protect the life's work of these Sound Retirement Trust retirees, who literally spent their careers helping to feed Americans,"
Prudential Group Insurance has enhanced its well-being program with the launch of a digitally accessible hub, offering a new access point to solutions and strategic partnerships that are aligned with the company's Life, Absence and Disability products. Based on data and feedback from clients, Prudential Group Insurance and its affiliate Prudential Workplace Solutions Group Insurance continue to innovate and find ways to bring well-being resources closer to the people who need them most. Through the launch of its new digital hub, Prudential is enhancing the access already provided to employees and members during life's key moments such as welcoming a new child, a job change, or during a di
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TD Cowen initiated coverage of Prudential with a rating of Hold and set a new price target of $130.00
Barclays initiated coverage of Prudential with a rating of Equal Weight and set a new price target of $118.00
Wells Fargo upgraded Prudential from Underweight to Equal Weight and set a new price target of $113.00
Jefferies upgraded Prudential from Hold to Buy and set a new price target of $143.00 from $121.00 previously
Raymond James downgraded Prudential from Strong Buy to Mkt Perform
JP Morgan downgraded Prudential from Overweight to Neutral and set a new price target of $118.00 from $119.00 previously
Deutsche Bank initiated coverage of Prudential with a rating of Hold and set a new price target of $99.00
Jefferies upgraded Prudential from Underperform to Hold and set a new price target of $93.00 from $70.00 previously
Raymond James upgraded Prudential from Mkt Perform to Strong Buy and set a new price target of $125.00
JP Morgan upgraded Prudential from Neutral to Overweight and set a new price target of $114.00
Ratings for Prudential Financial (NYSE:PRU) were provided by 8 analysts in the past three months, showcasing a mix of bullish and bearish perspectives. The following table summarizes their recent ratings, shedding light on the changing sentiments within the past 30 days and comparing them to the preceding months. Bullish Somewhat Bullish Indifferent Somewhat Bearish Bearish Total Ratings 2 0 5 1 0 Last 30D 0 0 1 0 0 1M Ago 1 0 3 0 0 2M Ago 0 0 0 0 0 3M Ago 1 0 1 1 0 Analysts have recently evaluated Prudential Financial and provided 12-month price targets. The average target is $126.62, accompanied by a high estimate of $143.00 and a low estimate of $116.00. Surpassing the
Citigroup analyst Michael Ward maintains Prudential Financial (NYSE:PRU) with a Neutral and raises the price target from $104 to $120.
Morgan Stanley analyst Nigel Dally maintains Prudential Financial (NYSE:PRU) with a Equal-Weight and raises the price target from $120 to $123.
Keefe, Bruyette & Woods analyst Ryan Krueger maintains Prudential Financial (NYSE:PRU) with a Market Perform and raises the price target from $118 to $121.
JP Morgan analyst Jimmy Bhullar maintains Prudential Financial (NYSE:PRU) with a Neutral and raises the price target from $118 to $128.
Providing a diverse range of perspectives from bullish to bearish, 9 analysts have published ratings on Prudential Financial (NYSE:PRU) in the last three months. In the table below, you'll find a summary of their recent ratings, revealing the shifting sentiments over the past 30 days and comparing them to the previous months. Bullish Somewhat Bullish Indifferent Somewhat Bearish Bearish Total Ratings 2 0 4 3 0 Last 30D 1 0 0 0 0 1M Ago 0 0 0 0 0 2M Ago 1 0 1 0 0 3M Ago 0 0 3 3 0 Analysts have recently evaluated Prudential Financial and provided 12-month price targets. The average target is $122.44, accompanied by a high estimate of $143.00 and a low estimate of $106.00. T
Jefferies analyst Suneet Kamath maintains Prudential Financial (NYSE:PRU) with a Buy and lowers the price target from $143 to $141.
Prudential Financial (NYSE:PRU) underwent analysis by 8 analysts in the last quarter, revealing a spectrum of viewpoints from bullish to bearish. The table below provides a concise overview of recent ratings by analysts, offering insights into the changing sentiments over the past 30 days and drawing comparisons with the preceding months for a holistic perspective. Bullish Somewhat Bullish Indifferent Somewhat Bearish Bearish Total Ratings 1 0 4 3 0 Last 30D 1 0 0 0 0 1M Ago 0 0 1 1 0 2M Ago 0 0 3 2 0 3M Ago 0 0 0 0 0 The 12-month price targets, analyzed by analysts, offer insights with an average target of $120.12, a high estimate of $143.00, and a low estimate of $106.0
Top Wall Street analysts changed their outlook on these top names. For a complete view of all analyst rating changes, including upgrades and downgrades, please see our analyst ratings page. Goldman Sachs analyst Gabriela Borges upgraded the rating for Shopify Inc (NYSE:SHOP) from Neutral to Buy, while boosting the price target from $67 to $74. Shopify shares fell 3.2% to close at $57.02 on Tuesday. See how other analysts view this stock. Piper Sandler analyst Michael Lavery upgraded The Kraft Heinz Company (NASDAQ:KHC) from Neutral to Overweight and maintained a price target of $42. Kraft Heinz shares gained 0.4% to settle at $35.92 on Tuesday. See how other analysts view this stock.
Jefferies analyst Suneet Kamath upgrades Prudential Financial (NYSE:PRU) from Hold to Buy and raises the price target from $121 to $143.
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Advent International ("Advent"), one of the largest and most experienced global private equity investors, today announced the appointment of former Ernst & Young LLP ("EY") Global Chairman and CEO Carmine Di Sibio as an Operating Partner. Di Sibio will play an active role in helping the firm identify, source and execute new deals in the business and financial services space and will work closely with Advent's team and current portfolio of investments. "We are thrilled to welcome Carmine to our growing roster of talented, specialized and hands-on Operating Partners," said Chris Egan, Managing Partner at Advent. "After a distinguished career of nearly four decades at EY, Carmine brings an in
Miami and Rockledge students will receive a $5,000 award and invitations to the 2024 summit for their work addressing the challenges of a changing world. NEWARK, N.J., Feb. 13, 2024 /PRNewswire/ -- William Charouhis, 18, of Miami, and Anjani Sharma, 17, of Rockledge, today were each named a 2024 Prudential Emerging Visionary for their inspiring commitment to improving the lives of others. As two of 25 Prudential Emerging Visionary winners, William and Anjani will each receive a $5,000 award to help take their innovation to the next level. They are also invited on an all-expens
Prudential Financial, Inc. ((PRU) announced today that Mike Estep, head of product for Group Insurance, 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. "Mike's leadership has been instrumental in developing a long-term vision for our product strategy and driving business growth." said Feeney. "His exceptional track record and client-first approach will ensure our continued progress in positioning Group Insurance as a leader in delivering comprehensive financial solutions to our clients." Since joining
Carlino to lead firm's private alternative distribution for financial intermediaries PGIM Investments, part of PGIM, the $1.27 trillion global investment management business of Prudential Financial, Inc. ((PRU), has appointed Dominick Carlino as global head of Alternative Investments. In this newly created role, Carlino will be responsible for driving the continued development and distribution of alternative investments, tailored to wealth management needs around the globe. He will report to Stuart Parker, president and CEO of PGIM Investments. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20231003851744/en/"Dominick's deep und
PGIM Real Estate has appointed Cathy Marcus and Raimondo Amabile as co-chief executive officers, effective Oct. 1, 2023. Marcus and Amabile will jointly run the business in an expansion of their existing global and regional roles and having worked together for over a decade. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20230906405896/en/Eric Adler, President and CEO at PGIM Real Estate (Photo: Business Wire) Marcus will retain her responsibilities as global chief operating officer, and Amabile will retain his responsibilities as global chief investment officer. In addition, the following appointments are being made effective O
Prudential Financial, Inc. ((PRU) announced today that it has appointed Nandini Mongia, currently senior vice president and treasurer, as president of Prudential Open-Architecture Solutions, effective June 19. She will report to the company's chairman and CEO, Charles Lowrey. In this new role, Mongia will lead the creation of an open-architecture platform, managing the supply and demand of asset and liability origination and overseeing Prudential's reinsurance entities and third-party strategic relationships. This new business will focus on expanding Prudential's access to serve clients through both proprietary and non-proprietary products and services. "Nandini brings a breadth of expe
PGIM Quantitative Solutions (PGIM Quant), the quantitative, multi-asset and liquid alternatives specialist of PGIM, has appointed Andy Wilmot as head of Strategic Relationships. PGIM is the $1.2 trillion global investment management business of Prudential Financial, Inc. (NYSE:PRU). This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20230222005026/en/Andy Wilmot, Head of Strategic Relationships, PGIM Quantitative Solutions (Photo: Business Wire) In this newly created role, Wilmot will spearhead the firm's relationship with its strategic partners and help identify new commercial opportunities across the firm's product suite. As part of
PGIM, the $1.2 trillion global investment management business of Prudential Financial, Inc. ((PRU), has announced Head of PGIM Fixed Income Michael Lillard will retire in April 2024. In turn, John Vibert will be appointed as president and CEO of the $759 billion active global fixed income manager, effective Jan. 1, 2024. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20230111005258/en/Michael Lillard, Head of PGIM Fixed Income, PGIM Fixed Income (Photo: Business Wire) Lillard joined Prudential in 1987 and has served in a host of investment and leadership roles throughout his tenure. In addition to assuming the head of Fixed Income
Scott Sleyster to retire as head of International Businesses during the first quarter of 2023. Executive Vice President Andy Sullivan will lead International Businesses and PGIM. Caroline Feeney promoted to executive vice president and head of U.S. Businesses. New appointments take effect Jan. 1, 2023. Prudential Financial today announced that effective Jan. 1, 2023, Andy Sullivan, currently head of U.S. Businesses, will become head of International Businesses and PGIM. In addition, Caroline Feeney, currently president and CEO of U.S. Retirement & Insurance Businesses, will be promoted to executive vice president and head of U.S. Businesses. Both will report directly to Chairman an
PGIM Quantitative Solutions (PGIM Quant), the quantitative and multi-asset solutions specialist of PGIM, has bolstered its distribution team with the appointment of Cyrus Cottin as head of International Distribution, and the promotion of Pam Clancy to head of Global Consultant Relations, effective immediately. PGIM is the US$1.3 trillion global investment management business of Prudential Financial, Inc. ((PRU). This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20220921005621/en/Brian Carroll, Head of Global Distribution, PGIM Quantitative Solutions (Photo: Business Wire) Based in London, Cottin reports to Brian Carroll, PGIM Quant's
Net income attributable to Prudential Financial, Inc. of $448 million or $1.24 per Common share versus net loss of $802 million or $2.23 per share for the year-ago quarter. After-tax adjusted operating income of $1.260 billion or $3.48 per Common share versus $1.332 billion or $3.62 per share for the year-ago quarter. Book value per Common share of $84.47 versus $70.82 per share for the year-ago quarter; adjusted book value per Common share of $98.71 versus $94.19 per share for the year-ago quarter. Parent company highly liquid assets(1) of $4.3 billion, in-line with the year-ago quarter. Assets under management(2) of $1.558 trillion versus $1.361 trillion for the year-ago quarter.
Prudential Financial, Inc. (NYSE:PRU) will release its third quarter 2024 earnings on Wednesday, October 30, 2024, after the market closes. The earnings news release, the financial supplement, and related materials will be posted on the company's Investor Relations website at investor.prudential.com. Members of Prudential's senior management will host a conference call on Thursday, October 31, 2024, at 11:00 a.m. ET to discuss with the investment community the company's third quarter results. Conference Call Information The conference call will be broadcast live over the company's Investor Relations website at investor.prudential.com. Please log on 15 minutes early in the event necessary
PGIM High Yield Bond Fund, Inc. (NYSE:ISD), PGIM Global High Yield Fund, Inc. (NYSE:GHY) and PGIM Short Duration High Yield Opportunities Fund (NYSE:SDHY) declared today monthly distributions for September, October and November 2024. The distribution amounts and schedule for each fund appears below: Fund Name Ticker Distribution Per Share Change from Prior Distribution PGIM High Yield Bond Fund, Inc. ISD $0.105 – PGIM Global High Yield Fund, Inc. GHY $0.105 – PGIM Short Duration High Yield Opportunities Fund SDHY $0.108 – Month Ex-Date Record Date Payable Date
Prudential Financial, Inc. (NYSE:PRU) announced today the declaration of a quarterly dividend of $1.30 per share of Common Stock, payable on September 12, 2024, to shareholders of record at the close of business on August 20, 2024. Prudential Financial, Inc. ((PRU), a global financial services leader and premier active global investment manager with approximately $1.5 trillion in assets under management as of June 30, 2024, has operations in the United States, Asia, Europe, and Latin America. Prudential'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's
Net income attributable to Prudential Financial, Inc. of $1.198 billion or $3.28 per Common share versus net income of $511 million or $1.38 per share for the year-ago quarter. The current quarter included a net after-tax benefit from our annual assumption update and other refinements of $679 million or $1.86 per Common share versus a charge of $314 million or $0.85 per share in the year-ago quarter. After-tax adjusted operating income of $1.234 billion or $3.39 per Common share versus $1.142 billion or $3.09 per share for the year-ago quarter. The current quarter included a net after-tax benefit from our annual assumption update and other refinements of $5 million or $0.01 per Common s
Prudential Financial, Inc. (NYSE:PRU) will release its second quarter 2024 earnings on Thursday, August 1, 2024, after the market closes. The earnings news release, the financial supplement, and related materials will be posted on the company's Investor Relations website at investor.prudential.com. Members of Prudential's senior management will host a conference call on Friday, August 2, 2024, at 11:00 a.m. ET to discuss with the investment community the company's second quarter results. Conference Call Information The conference call will be broadcast live over the company's Investor Relations website at investor.prudential.com. Please log on 15 minutes early in the event necessary sof
New fixed income ETFs build on success of $7B PGIM Ultra Short Bond ETF (PULS) and PGIM's existing retail municipal bond strategies1 PGIM,2 the $1.34 trillion global investment management business of Prudential Financial, Inc. ((PRU), has launched two new actively managed exchange-traded funds (ETFs) — the PGIM Ultra Short Municipal Bond ETF (PUSH) and the PGIM Municipal Income Opportunities ETF (PMIO) — on the NYSE Arca. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240628741017/en/Stuart Parker, President and CEO, PGIM Investments (Photo: Business Wire) Both ETFs seek total return through a combination of current income and
PGIM High Yield Bond Fund, Inc. (NYSE:ISD), PGIM Global High Yield Fund, Inc. (NYSE:GHY) and PGIM Short Duration High Yield Opportunities Fund (NYSE:SDHY) declared today monthly distributions for June, July and August 2024. The distribution amounts and schedule for each fund appears below: Fund Name Ticker Distribution Per Share Change from Prior Distribution PGIM High Yield Bond Fund, Inc. ISD $0.105 – PGIM Global High Yield Fund, Inc. GHY $0.105 – PGIM Short Duration High Yield Opportunities Fund SDHY $0.108 – Month Ex-Date Record Date Payable Date Jun
Prudential Financial, Inc. (NYSE:PRU) announced today the declaration of a quarterly dividend of $1.30 per share of Common Stock, payable on June 13, 2024, to shareholders of record at the close of business on May 21, 2024. Prudential Financial, Inc. ((PRU), a global financial services leader and premier active global investment manager with approximately $1.5 trillion in assets under management as of March 31, 2024, has operations in the United States, Asia, Europe, and Latin America. Prudential'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's iconic
Net income attributable to Prudential Financial, Inc. of $1.138 billion or $3.12 per Common share versus net income of $1.462 billion or $3.93 per share for the year-ago quarter. After-tax adjusted operating income of $1.141 billion or $3.12 per Common share versus $1.004 billion or $2.70 per share for the year-ago quarter. Book value per Common share of $75.00 versus $85.33 per share for the year-ago quarter; adjusted book value per Common share of $97.03 versus $97.29 per share for the year-ago quarter. Parent company highly liquid assets(1) of $4.2 billion versus $4.6 billion for the year-ago quarter. Assets under management(2) of $1.496 trillion versus $1.417 trillion for t