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 |
|---|---|---|---|
| 11/14/2024 | $117.00 → $140.00 | Underperform → In-line | Evercore ISI |
| 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 |
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AM Best has affirmed the Financial Strength Rating (FSR) of A+ (Superior) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of "aa-" (Superior) of the life/health insurance subsidiaries of Prudential Financial, Inc. (PFI) (Newark, NJ) (NYSE:PRU), collectively referred to as Prudential. Concurrently, AM Best has affirmed the Long-Term ICR of "a-" (Excellent) of PFI and all Long- and Short-Term Issue Credit Ratings (Long-Term IR; Short-Term IR) of the group. The outlook of these Credit Ratings (ratings) is stable. (Please see below for a detailed listing of the companies and ratings.) The ratings reflect Prudential's balance sheet strength, which AM Best assesses as very strong, a
Prudential Financial, Inc. (NYSE:PRU) today announced plans to collaborate with Dimensional Fund Advisors and Fiduciary Exchange LLC (FIDx) to bring protected lifetime income strategies to managed accounts via the FIDx Insurance Overlay marketplace. This initiative is designed to further meet the evolving needs of retirement investors who partner with registered investment advisors (RIAs), in a new, innovative way. "Working with Dimensional and FIDx to bring protected lifetime income strategies to managed accounts is a key step in advancing Prudential's commitment to expanding access to retirement security for more people," said Ann Nanda, head of Future Growth Initiatives at Prudential R
Prudential Financial, Inc. (NYSE:PRU) will release its fourth quarter 2024 earnings on Tuesday, February 4, 2025, 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 Wednesday, February 5, 2025, at 11:00 a.m. ET to discuss with the investment community the company's fourth 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 necessa
Competitively priced at 0.50%, new funds are among lowest-cost buffer ETFs in the marketplace PGIM,1 the $1.4 trillion global investment management business of Prudential Financial, Inc. ((PRU) launches the PGIM S&P 500 Max Buffer ETF series, the PGIM Nasdaq-100 Buffer 12 ETF series and the PGIM Laddered Nasdaq-100 Buffer 12 ETF ("the ETFs"). This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20250102861008/en/Stuart Parker, President and CEO, PGIM Investments (Photo: Business Wire) The ETFs will be offered at a 0.50% net expense ratio, placing them among the lowest-cost buffer ETFs in the marketplace.2 The PGIM S&P 500 Max Buffe
First-of-its-kind report reveals what the future may hold for Generation Beta, and the "Beta Baby Bonus" offered today inspires early financial action Today Prudential Financial, Inc. ((PRU) joins the world in welcoming Generation Beta (people born Jan. 1, 2025, to Dec. 31, 2039) by commissioning a first-of-its-kind report, Generation Beta: Redefining Life, Longevity, and Retirement, that reveals how Americans envision the future, and how technological, social and economic shifts will impact their financial security. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20241217226022/en/ To celebrate this new generation and encourage
Prudential Financial, Inc. ((PRU) announced today that it has successfully closed a reinsurance transaction for a portion of its guaranteed universal life block with Wilton Re. This transaction, originally announced on Aug. 20, 2024, advances Prudential's strategic progress to become a higher growth and more capital efficient company. The financial impact of the transaction aligns with the impacts outlined at the time of the announcement. Additionally, Prudential announced today that it has restructured a series of internal captive reinsurance arrangements for a portion of its in-force term life insurance block. As a result of this transaction, Prudential expects to incur one-time pre-tax
Prudential Group Insurance expands suite of resources and services for beneficiaries to help navigate the emotional and practical challenges that come with the loss of a loved one. The loss of a loved one is a profoundly difficult time, and navigating the financial, legal, emotional and logistical challenges that follow can often be daunting. Prudential Financial, Inc. (NYSE:PRU) announced today a new strategic relationship with Empathy, a leading bereavement support platform, that will provide beneficiaries with access to an enhanced suite of resources to help them cope with loss and navigate the challenges throughout the grieving journey. Recognizing the need for comprehensive care
Andrew Sullivan appointed CEO effective March 31, 2025 Caroline Feeney named Global Head of Insurance and Retirement, effective March 31, 2025 Charles F. Lowrey to continue in role of Executive Chairman for 18 months Robert Falzon, Vice Chair, to retire after 42 years with the firm, effective July 11, 2025 Transition marks culmination of a thorough succession planning process Prudential Financial, Inc. ((PRU) today announced that the Board of Directors has appointed Andrew Sullivan as its next CEO, effective March 31, 2025. Sullivan, who currently serves as executive vice president and head of International Businesses and Global Investment Management, will succeed Charles F.
Affirm Holdings, Inc. (NASDAQ:AFRM), the payment network that empowers consumers and helps merchants drive growth, and PGIM Fixed Income, a Prudential Financial (NYSE:PRU) company and one of the largest global fixed income managers with $859 billion in assets under management, today announced that PGIM Fixed Income has completed an inaugural private purchase of $500 million in Affirm loans. The transaction deepens Affirm's partnership with PGIM Fixed Income, which manages a leading asset-based finance ("ABF") platform and more than $120 billion in assets under management across public and private securitized credit*. Previously, PGIM Fixed Income invested in Affirm's assets via the compan
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 December 2024, and January and February 2025. 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
Prudential Financial, Inc. (NYSE:PRU) will release its fourth quarter 2024 earnings on Tuesday, February 4, 2025, 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 Wednesday, February 5, 2025, at 11:00 a.m. ET to discuss with the investment community the company's fourth 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 necessa
Competitively priced at 0.50%, new funds are among lowest-cost buffer ETFs in the marketplace PGIM,1 the $1.4 trillion global investment management business of Prudential Financial, Inc. ((PRU) launches the PGIM S&P 500 Max Buffer ETF series, the PGIM Nasdaq-100 Buffer 12 ETF series and the PGIM Laddered Nasdaq-100 Buffer 12 ETF ("the ETFs"). This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20250102861008/en/Stuart Parker, President and CEO, PGIM Investments (Photo: Business Wire) The ETFs will be offered at a 0.50% net expense ratio, placing them among the lowest-cost buffer ETFs in the marketplace.2 The PGIM S&P 500 Max Buffe
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 December 2024, and January and February 2025. 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
Prudential Financial, Inc. (NYSE:PRU) announced today the declaration of a quarterly dividend of $1.30 per share of Common Stock, payable on December 12, 2024, to shareholders of record at the close of business on November 19, 2024. Prudential Financial, Inc. ((PRU), a global financial services leader and premier active global investment manager with approximately $1.6 trillion in assets under management as of September 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. Prudenti
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
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Evercore ISI upgraded Prudential from Underperform to In-line and set a new price target of $140.00 from $117.00 previously
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
Jacques Chappuis, formerly co-head of Morgan Stanley Investment Management, will lead PGIM, Prudential Financial, Inc.'s global asset management business, effective May 1, 2025 Chappuis will lead PGIM's next chapter of growth across public and private markets capabilities David Hunt will retire as president and CEO of PGIM and stay on as chairman until July 31, 2025 to ensure a smooth transition Over his successful 13-year tenure, Hunt led PGIM's significant growth and international expansion Prudential Financial, Inc. (NYSE:PRU) announced the appointment of Jacques Chappuis as president and CEO of PGIM, its $1.4 trillion global investment management business, effective May 1, 2025
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