Prudential Finl Stock Price, News & Analysis

Prudential Financial, Inc. (NYSE: PRU) has declared a quarterly dividend of $1.20 per share, scheduled for payment on December 15, 2022. Shareholders of record will be those holding stock as of the close of business on November 22, 2022. As of September 30, 2022, Prudential managed over $1.3 trillion in assets, emphasizing its position as a leading global financial services firm. The company focuses on expanding access to investing, insurance, and retirement security across regions, including the U.S., Asia, Europe, and Latin America.

Prudential Financial's latest Pulse survey reveals significant shifts in younger generations' attitudes towards work and financial goals. Millennials and Gen Z favor flexibility, with many engaging in gig work or relying on family for financial support. Key findings include: 33% of millennials and 46% of Gen Z have changed jobs since the pandemic. Alarmingly, 49% of millennials and 48% of Gen Z feel their salaries are inadequate. The survey highlights women's precarious financial situations, with 41% expressing heightened economic concerns. Prudential emphasizes the need for tailored financial solutions to aid these demographics.

Prudential Financial reported a net loss of $284 million ($0.78/share) for Q3 2022, a drop from $1.530 billion ($3.90/share) in Q3 2021. Adjusted operating income also decreased to $803 million ($2.13/share) from $1.487 billion. Book value per share fell to $44.15 from $160.29, while adjusted book value decreased to $102.26. Assets under management dropped to $1.350 trillion from $1.727 trillion. The company achieved $750 million in cost savings ahead of schedule and highlighted ongoing investments in growth and strategy adaptations in response to market challenges.

Prudential Financial announces key leadership changes effective January 1, 2023. Scott Sleyster, head of International Businesses, will retire after 35 years with the company. Andy Sullivan, currently leading U.S. Businesses, will take over International Businesses and PGIM, while Caroline Feeney, president and CEO of U.S. Retirement & Insurance Businesses, is promoted to oversee U.S. Businesses. These appointments aim to ensure continuity and drive Prudential's growth in investing, insurance, and retirement security.

According to PGIM's latest research, private market funds have seen a nearly threefold increase in assets since the global financial crisis, now comprising over 35% of new capital raised in the U.S. in 2021. However, changing market conditions are posing new risks and opportunities for investors. The report highlights the challenges posed by tightening monetary policies and potential economic downturns, particularly for new entrants in private credit markets. Key considerations for investors include evaluating liquidity, secondary markets, and the integration of private alternatives into defined contribution plans.

Prudential Financial, Inc. (NYSE: PRU) is set to announce its third quarter 2022 earnings on November 1, 2022, after market closure. The release will be available on the company’s Investor Relations website. Following this, a conference call is scheduled for November 2, 2022, at 11:00 a.m. ET, to discuss earnings results with investors. Prudential, a global financial services leader, manages over $1.4 trillion in assets as of June 30, 2022.

Prudential Financial, Inc. (NYSE: PRU) is the title sponsor for the second annual Curtain Up Broadway Festival, taking place from Sept. 30 to Oct. 2 in Times Square. The company is donating $110,000 to support local theater and arts initiatives. The festival will celebrate Broadway's contribution to economic growth, which includes a pre-pandemic impact of $15 billion to New York City. Prudential aims to enhance accessibility to the arts and has partnered with actress Brittney Johnson to raise awareness on inclusion.

PGIM Quantitative Solutions has strengthened 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. These changes aim to enhance PGIM Quant’s distribution strategy across Europe and APAC, in response to growing demand for quantitative investment solutions. Cottin previously worked at Eastspring Investments, and Clancy has been with PGIM in various roles. As of June 30, 2022, PGIM Quantitative Solutions manages approximately US$91.5 billion in assets.