Prudential Finl Stock Price, News & Analysis

On February 21, 2023, Prudential Financial (NYSE: PRU) announced the selection of 25 young leaders for its Prudential Emerging Visionaries program, recognizing their innovative solutions to societal and financial challenges. Each honoree, aged 14-18, receives $5,000 for their projects aimed at improving community well-being. The initiative highlights projects like mobile apps for financial access, environmental startups, and mental health awareness. The winners will also attend a summit in Newark, New Jersey, in April for coaching and networking opportunities, including a chance to win additional grants.

PGIM Private Capital announced record originations of $16.1 billion in 2022 across 241 middle-market companies, marking a second consecutive year of growth. Notable highlights include $12.9 billion in investment-grade investments and $4.7 billion in Real Assets projects. The firm successfully supported new issuers and returned borrowers, showcasing its strong origination network and disciplined credit judgment. PGIM manages a portfolio valued at $96.6 billion, with an emphasis on private placements and mezzanine investments. As rising inflation and rates shape the investment landscape for 2023, PGIM remains well-positioned to support investors and borrowers.

Prudential Financial, Inc. reported a net loss of $558 million ($1.53 per share) for Q4 2022, compared to a net income of $1.208 billion ($3.13 per share) in Q4 2021. For the full year, the company recorded a net loss of $1.438 billion ($3.93 per share), down from $7.724 billion ($19.51 per share) in 2021.

Adjusted operating income fell to $907 million ($2.42 per share) in Q4 2022 and $3.592 billion ($9.46 per share) for the year. Key metrics include a significant goodwill impairment charge of $713 million and assets under management decreasing to $1.377 trillion from $1.742 trillion year-over-year.

Flashlight Capital Partners, a significant shareholder of KT&G, has proposed several key initiatives for the company's 2023 Annual General Meeting. These include the election of two experienced executives to the Board, a spin-off of KT&G’s Ginseng Business, a dividend issuance of KRW 10,000 per share, and an increase in the share repurchase program. The candidates, Suk Yong Cha and Ou Jin Hwang, bring extensive leadership experience, with Cha previously leading LG H&H and Hwang as former CEO of Prudential Life Korea, known for substantial revenue growth. These proposals aim to enhance governance and drive shareholder value.

Prudential Financial, Inc. (NYSE: PRU) is set to release its fourth quarter 2022 earnings on February 7, 2023, post-market. A conference call for discussing results will take place on February 8, 2023, at 11:00 a.m. ET. Interested parties can access the call via Prudential’s Investor Relations webpage or by phone. The company, managing over $1.3 trillion in assets as of September 30, 2022, operates globally, providing investment, insurance, and retirement solutions.

PGIM, Prudential Financial’s $1.2 trillion global investment management arm, has announced the retirement of Michael Lillard, effective April 2024. John Vibert will succeed him as president and CEO starting January 1, 2024. Lillard has been pivotal in various leadership roles since joining in 1987, including his tenure as CIO. Vibert, who joined PGIM in 2014, has experience across fixed income markets and currently oversees global operations. This leadership transition aims to ensure continued performance and strategic direction amid market challenges.

Jennison Associates announces the passing of co-founder Spiros “Sig” Segalas, a pioneer in growth equity investing and a key figure in the firm's development since its inception in 1969. Segalas managed portfolios for over 50 years and was recognized with multiple industry honors. His legacy emphasizes independence and long-term investment strategies. Leadership transitions will uphold Segalas’ principles, with Kathleen McCarragher and Blair Boyer steering the Large Cap Growth team. No immediate changes to investment processes are expected. The firm managed $164 billion in assets as of September 2022.

AM Best has affirmed Prudential Financial, Inc.'s (NYSE: PRU) Financial Strength Rating of A+ and Long-Term Issuer Credit Ratings of 'aa-'. The stable outlook reflects Prudential's very strong balance sheet, strong operating performance, and diversified product offerings in life, annuities, and asset management. Although the company faces headwinds from higher COVID-19-related claims in Japan and volatile earnings trends, its capital strength is supported by a solid investment portfolio and strong liquidity metrics.

PGIM Investments has launched three actively managed ETFs: PGIM Jennison Focused Growth ETF (PJFG), PGIM Jennison Focused Value ETF (PJFV), and PGIM Portfolio Ballast ETF (PBL). This expansion brings PGIM's active ETF lineup to eight. The new funds are designed to provide transparency and tax efficiency, with strategies that mirror existing mutual fund and institutional strategies. Notably, PBL aims to moderate volatility, targeting 60% of S&P 500 returns in appreciating markets and 30% in declining markets.