|Bid||93.25 x 1400|
|Ask||0.00 x 800|
|Day's Range||92.54 - 94.35|
|52 Week Range||75.61 - 111.18|
|Beta (3Y Monthly)||1.43|
|PE Ratio (TTM)||9.91|
|Forward Dividend & Yield||4.00 (4.36%)|
|1y Target Est||N/A|
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Stock funds took in a net 61.6 billion rupees ($866 million), the least since January 2017, and a seven percent decline over the previous month, data from the Association of Mutual Funds in India show. India’s largest money manager held 1.2 trillion rupees in equities, with financials accounting for about 32 percent of stock assets followed by industrial companies at 14 percent. The money manager held equity assets of 1.2 trillion rupees, with financials making up 26 percent of assets followed by technology at 10 percent.
Elizabeth Warren, Bernie Sanders and other US senators have written to investment groups to urge them to disclose how they manage investments exposed to tropical deforestation linked to palm oil. Eight senators signed the letters, which were sent to US groups including BlackRock, JPMorgan Chase and Fidelity Investments that are believed to be exposed to companies active in the sector. “In particular, we are concerned that some companies in your portfolio may not be living up to their commitments to address deforestation in their supply chain — if they have made such commitments at all,” the letters stated.
SunTrust STI , BB&T BBT – BB&T is combining with SunTrust in a $66 billion merger of equals . SunTrust shareholders will get just under 1.3 BB&T shares for each share they now own, valuing SunTrust at $62.85 per share, a seven percent premium to yesterday's close. Twitter TWTR – Twitter reported adjusted quarterly profit of 31 cents per share, 6 cents a share above estimates.
In the Royal Commission inquiry into Australia’s financial sector that concluded Monday, Commissioner Kenneth Hayne singled out the pair for unusually stinging criticism. After hearing their testimony in November hearings, “I am not as confident as I would wish to be that the lessons of the past have been learned,” he wrote.
Two of the largest U.S. insurance companies posted fourth-quarter earnings declines, hurt in part by tax impacts that boosted year-earlier earnings. New York-based MetLife Inc.’s fourth-quarter profit dropped 12% to $2.01 billion from the year-earlier quarter largely because the fourth quarter of 2017 included a one-time $1.2 billion benefit from adjustments tied to U.S. tax changes.
A loss in Prudential's individual life insurance business and lower operating income in its asset management unit were among the factors that drove the company's fourth-quarter performance. The No. 1 U.S. life insurer by assets reported adjusted operating income, which excludes realized gains and losses from investments, of $1 billion (£772 million), or $2.44 per share, compared with $1.2 billion, or $2.69 per share, in the year-ago quarter. Adjusted operating income for PGIM, Prudential's asset management arm, fell 20.6 percent to $243 million from $306 million a year earlier, the company said.
Prudential Financial Inc on Wednesday missed analysts' estimates for fourth-quarter results, reporting a 12 percent drop in adjusted quarterly operating income. A loss in Prudential's individual life insurance business and lower operating income in its asset management unit were among the factors that drove the company's fourth-quarter performance. The No. 1 U.S. life insurer by assets reported adjusted operating income, which excludes realized gains and losses from investments, of $1 billion, or $2.44 per share, compared with $1.2 billion, or $2.69 per share, in the year-ago quarter.
Prudential Financial Inc on Wednesday reported a 12 percent drop in adjusted operating income, partly due to a loss in its individual life insurance business and declines in other units. The U.S. No. 1 life insurer by assets reported adjusted operating income, which excludes realized gains and losses from investments, of $1 billion, or $2.44 per share, compared with $1.2 billion, or $2.69 per share, in the year-ago quarter. Adjusted operating income for PGIM, Prudential's asset management arm, fell 20.6 percent to $243 million from $306 million a year earlier, the company said.
Chinese stocks remain uncertain, while a rising dollar could drag returns. Life insurance earnings may give more insight into corporate performance.
Overall adjusted profit rose to $1.35 a share, beating the $1.28 average estimate of 17 analysts surveyed by Bloomberg.That compares with Prudential, where the U.S. individual-life segment swung to a loss of $26 million in the fourth quarter, compared with a profit of $98 million a year earlier. Overall fourth-quarter operating income fell to $2.44 a share, falling short of analysts’ estimates of $2.78.
Insurers are likely to benefit from interest rate hikes, improved pricing, continued share repurchases, though cat loss will weigh on underwriting profitability.
The final report of the country’s Royal Commission into misconduct in the sector will be a relief for bank investors. To be sure, there are significant reforms embedded in Commissioner Kenneth Hayne’s 76 recommendations, which the government has promised to act upon. At bottom, the report is a full-frontal attack on the welter of intermediaries who sell mortgages, retirement accounts, insurance and other financial products to Australian consumers, often with ill-disclosed conflicts of interest.
The government said it would take action on all 76 recommendations contained in the report. Here are the highlights:Financial firms are likely to face tougher enforcement, with the Australian Securities and Investments Commission urged to consider court action as a starting point to tackle misconduct.The Royal Commission has made 24 referrals of misconduct by financial firms to the regulators for potential further action, Treasurer Josh Frydenberg said.No changes will be made to responsible lending laws, and the commission noted that banks had already taken steps to tighten verification of borrowers’ ability to pay.The government will expand the Federal Court’s jurisdiction to tackle corporate crime, to ensure swift prosecution of financial crimes. The government will also consider additional funding for regulators.The Banking Executive Accountability Regime, which ensures banks and their executives are held accountable, will be extended to insurers and superannuation firms.The industry should continue to be overseen by two key bodies, the Australian Securities and Investments Commission and the Australian Prudential Regulation Authority.
Prudential Financial's (PRU) Q4 earnings are likely to benefit from new recurring premium sales, expanded product offerings and broader distribution capabilities.
While Fed Chairman Jerome Powell made it abundantly clear that policymakers are in pause mode for the time being, there's no telling how long that could last.
Prudential (PRU) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.