Prudential Finl Stock Price, News & Analysis

PGIM Investments announced it will acquire Green Harvest Asset Management, enhancing its platform for high-net-worth investors with customized solutions. Green Harvest specializes in separately managed account strategies utilizing ETFs for optimal after-tax outcomes. This deal, expected to close in Q4 2021, aligns with PGIM's commitment to meeting evolving client needs amidst potential capital gains tax increases. The acquisition is seen as a strategic move to integrate Green Harvest's capabilities into PGIM Investments’ offerings, expanding its investment solutions.

Equinix (Nasdaq: EQIX) and PGIM Real Estate announced a US$575 million joint venture to develop two xScale data centers in Sydney, Australia. The facilities will provide over 55 MW of power capacity aimed at hyperscale companies, with the first center, SY9x, expected to open in Q1 2022. This partnership enhances Equinix's existing global xScale portfolio, which will exceed $7.5 billion and 675 MW across 34 facilities upon completion. PGIM will hold an 80% equity interest while Equinix retains 20%. The venture aims for completion in Q4 2021.

PGIM Fixed Income announced that Jason Appleson will become the head of Municipal Bonds starting January 1, 2022, following Susan Courtney's retirement. Appleson joins from PT Asset Management, where he managed the Performance Trust Municipal Bond Fund with $891 million in assets. He has experience at the Federal Reserve Bank of New York and AllianceBernstein. PGIM Fixed Income manages over $31 billion in municipal assets and $954 billion overall. Appleson's expertise is expected to enhance the firm's municipal bond strategies.

PGIM, Prudential Financial's global investment management arm, released a report indicating that technological advancements, particularly in AI, cloud computing, and big data, are reshaping the services sector. The research suggests that leading firms in healthcare, finance, and logistics will not be undermined by disruptive technology; instead, they will leverage it for growth. The report highlights opportunities for long-term investors to capitalize on these changes. With $1.5 trillion in assets under management, PGIM emphasizes the importance of adapting portfolios to navigate these transformations.

PGIM Private Capital has secured a $65 million Senior Secured Credit Facility for ED&F Man Capital Markets US Holdings, Inc.. This facility includes a $50 million First Lien Term Loan and a $15 million Delayed Draw Term Loan. The funding aims to enhance growth opportunities for ED&F Man, as stated by both PJ LaFemina of PGIM and Christopher J Smith, the company's Global CEO. PGIM manages over $100 billion in private placements and is a significant player within the $1.4 trillion Prudential Financial investment management system.

Prudential Financial (NYSE: PRU) partners with the New Jersey Devils to expand its Buy Black program, offering premier brand placement on the Devils' helmets to a Black-owned business for 13 games. This initiative aims to provide greater visibility and support for Black entrepreneurs. Interested companies can apply until October 29, with the selected business announced in mid-November. Prudential will also donate 200 helmets to Black youth hockey programs in New Jersey. This collaboration highlights Prudential's commitment to community empowerment through sports.

Prudential Financial, Inc. (NYSE: PRU) will announce its third-quarter 2021 earnings on November 2, 2021, after market close. The earnings news release, alongside financial supplements, will be accessible via the company's Investor Relations website. A conference call will follow on November 3, 2021, at 11:00 a.m. ET to discuss results with investors. Replay options will be available from 3:00 p.m. ET on the same day until November 17. Prudential manages over $1.5 trillion in assets, with a global presence.

Prudential Private Capital has announced a significant financing package for Ameresco PV Holdings X LLC, totaling $40.7 million in senior secured fixed rate notes, $4.1 million in second lien floating rate notes, and a $60.0 million undrawn Pru-Shelf facility. This funding aims to support Ameresco's expansion and diversification of its solar project portfolio across the U.S. Prudential's investment reflects confidence in Ameresco's mission of delivering energy-efficient and renewable solutions.

Prudential Financial, Inc. (NYSE: PRU) has launched Prudential Retirement Strategies, a new U.S. business aimed at addressing retirement needs for individual and institutional clients. Led by Dylan Tyson, the initiative combines Individual Annuities and Retirement Institutional Investment Products, enhancing Prudential's position in the retirement market. Yanela Frias has been appointed president of Group Insurance, continuing her role in managing the full-service retirement plan recordkeeping business until its anticipated sale in early 2022. CEO Caroline Feeney emphasizes the goal of solving retirement challenges.