|Bid||94.60 x 800|
|Ask||94.71 x 800|
|Day's Range||93.02 - 95.17|
|52 Week Range||92.05 - 127.14|
|Beta (3Y Monthly)||1.55|
|PE Ratio (TTM)||5.48|
|Earnings Date||Nov 7, 2018|
|Forward Dividend & Yield||3.60 (3.76%)|
|1y Target Est||119.53|
Blue Cross and Blue Shield of Nebraska, an independent licensee of the Blue Cross and Blue Shield Association, hired Prudential Retirement to serve as the new provider for its 401(k) retirement plan. Prudential Retirement, among the industry’s largest record keepers, is a business unit of Prudential Financial, Inc. (NYSE: PRU).
PGIM Investments is expanding its distribution footprint throughout Europe, adding a team dedicated to Germany. The firm has hired as vice president Thiemo Volkholz, who will be based in Frankfurt and focused on growing the firm’s presence with global, regional and local banks and financial intermediaries throughout the region.
Women on average have saved 43 percent less for retirement than men, finds new data from Prudential Financial, Inc. (NYSE: PRU). Data from Prudential’s 2018 Financial Wellness Census™ finds that women and men on average expect to retire at age 67. The findings come at the start of National Retirement Security Week, aimed at educating Americans about the importance of planning for a secure retirement.
The 2010 Dodd-Frank Act created a new designation for “systemically important financial institutions.” These SIFIs are selected by the new interagency Financial Stability Oversight Council, which is led by the Treasury, and the goal was to add supervision (and higher costs along with it) to the largest banks to prevent them from failing again. Mr. Lew ignored them for reasons he never made clear.
Robert Tipp, chief strategist of PGIM Fixed Income, has a strong stomach for the European Union’s debt turmoil. Italy is also in the mix. The country’s debt came under pressure Thursday just hours after it conducted a bond-exchange operation and as investors homed in on budget concerns.
PGIM Investments bolstered its ETF roster today with the launch of the first of four actively managed equity exchange-traded funds that it expects to roll out in 2018. Sub-advised by QMA, the quantitative ...
PGIM Investments today launched the first of four actively managed equity exchange-traded funds (ETFs) that it plans to roll out in 2018, expanding the platform from the two actively managed fixed income ETFs launched earlier this year. Sub-advised by QMA, the quantitative equity and global multi-asset solutions manager of PGIM, the PGIM QMA Strategic Alpha Large-Cap Core ETF (NYSE Arca: PQLC) seeks long-term growth of capital by investing primarily in large-cap stocks. PGIM Investments is the worldwide distributor of retail products for PGIM, the $1 trillion global investment management businesses of Prudential Financial, Inc. (NYSE: PRU)—a top-10 investment manager globally.
Prudential Retirement®, a unit of Prudential Financial, Inc. (NYSE:PRU), has concluded $3.2 billion in previously undisclosed longevity reinsurance contracts, a further sign that pension de-risking activity in the U.K. is continuing at a brisk pace. As part of these transactions, The Prudential Insurance Company of America (PICA) assumes the longevity risk for approximately 13,200 retirees. The affordability of pension buy-ins and buy-outs is due in part to the improved funded status of U.K. schemes, which, on average, were at or near full funding in the summer of 2018.
WASHINGTON—U.S. regulators released Prudential Financial Inc. from federal oversight Wednesday, the strongest signal yet that the risk of heightened post-financial-crisis supervision is fading for firms outside the banking sector. The Financial Stability Oversight Council unanimously rescinded Prudential’s designation as a “systemically important financial institution,” or SIFI, a label that comes with tighter scrutiny from the Federal Reserve. The decision followed a yearslong campaign by Newark, N.J-based Prudential to reverse regulators’ 2013 determination that its failure could threaten the economy.
U.S. regulators have rescinded federal oversight of Prudential Financial Inc. In other words, Prudential is no longer considered "too big too fail" — a theory that some financial institutions are so large that their failure would be disastrous to the greater economy. The Financial Stability Oversight Council voted to revoke Prudential’s designation as a systemically important financial institution (SIFI). Prudential joins other firms like American International Group Inc. (NYSE: AIG), General Electric Co.’s (NYSE: GE) financing arm, and MetLife Inc. (NYSE: MET) — none are considered SIFIs.
The latest blow came Wednesday when the Financial Stability Oversight Council said it no long considered Prudential Financial Inc. so big and complex that the insurer’s failure could trigger a panic. Prudential was the last non-bank to carry the regulator’s dreaded systemic-risk label, which brings tough oversight and steep compliance costs. When Congress created FSOC through the Dodd-Frank Act, many on Capitol Hill and Wall Street expected it to impose the tag on a number of hedge funds, private-equity firms and insurers.
WASHINGTON (AP) — A group of federal regulators on Wednesday lifted the strict government oversight imposed on big insurer Prudential Financial Inc. It was the last financial company still carrying the label that subjected it to special restrictions stemming from the 2008 financial crisis.
The Financial Stability Oversight Council agreed in a Tuesday vote that the insurer doesn’t pose a special risk to the stability of the financial system, the Treasury Department said in a statement. The other non-banks that had been deemed systemically important financial institutions -- American International Group Inc., MetLife Inc. and General Electric Co.’s financial arm -- had been freed by FSOC over the past few years. The decision to scrap Prudential’s designation removes an additional layer of regulatory oversight, potentially saving the life insurer millions of dollars annually in compliance costs.
"The Financial Stability Oversight Council (Council) today announced that it has rescinded its determination that material financial distress at Prudential Financial, Inc. (Prudential) could pose a threat to U.S. financial stability," the agency wrote in a press release. The council, formed in 2010 as a part of the Dodd-Frank Act to create better supervision over the financial system, said Prudential will be supervised only by the Board of Governors of the Federal Reserve System.
Financial regulators, mostly appointed by Trump, voted Wednesday to free Prudential Financial from Fed oversight, marking the end of nonbank supervision at the central bank.
A U.S. regulatory council announced on Wednesday it had removed the systemically risky label from Prudential Financial, freeing the insurance company from more rigorous oversight by the Federal Reserve. The decision by the Financial Stability Oversight Council could cut regulatory costs at Prudential, which no longer will have to meet enhanced capital and liquidity standards and comply with Fed regulators. It also means regulators no longer consider any nonbanks to pose a threat to the entire financial system.
A U.S. regulatory council announced on Wednesday it had removed the systemically risky label from Prudential Financial (PRU.N), freeing the insurance company from more rigorous oversight by the Federal Reserve. The decision by the Financial Stability Oversight Council could cut regulatory costs at Prudential, which no longer will have to meet enhanced capital and liquidity standards and comply with Fed regulators. It also means regulators no longer consider any nonbanks to pose a threat to the entire financial system.
Having the designation removed means Prudential has won relief from stricter regulatory oversight. The last of the four non-bank financial companies to bear the label "systemically important" has won relief from stricter regulatory oversight. The government's Financial Stability Oversight Council, a group of market and bank regulators, has removed the designation for Prudential Financial PRU .
The Financial Stability Oversight Council, the group of U.S. financial regulators, said Wednesday that it's removed the nonbank systemically important financial institution designation from Prudential Financial , saying it no longer believes the U.S. insurer "could pose a threat to U.S. financial stability." The Council approved the rescission of Prudential's designation unanimously, though FHFA Director Mel Watt said he was concerned there was no independent evaluation of the threat from Prudential's size, interconnectedness, scope and other factors. "The Council's decision today follows extensive engagement with the company and a detailed analysis showing that there is not a significant risk that the company could pose a threat to financial stability," said Treasury Secretary Steven Mnuchin in a statement. Prudential said it was pleased with the decision and that it will work with the New Jersey Department of Banking and Insurance in its expanded role as group-wide supervisor.
Washington is ending its “too big to fail” supervision of Prudential Financial, further undermining the post-crisis financial regulatory regime introduced by former President Barack Obama. A body of senior officials led by Treasury Secretary Steven Mnuchin voted to drop additional regulatory scrutiny of Prudential, the largest US insurer by assets. Prudential was the last insurance group to remain on a list of non-bank companies deemed “systemically important”, a label that carries extra-close supervision by the Federal Reserve.
“We are pleased with this decision, which affirms our longstanding belief that Prudential never met the standard for designation. This outcome reflects Prudential’s sustainable business model, capital strength and comprehensive risk management, which have and continue to enable us to fulfill our promises to our customers, deliver consistent performance and meet regulatory obligations. “Prudential’s approach — working through the FSOC’s rigorous review process — resulted in the Council’s appropriate conclusion that Prudential does not pose systemic risk.
A panel of U.S. regulators is seen as likely to relieve Prudential Financial Inc from stricter oversight when it meets on Tuesday, in a move that could reduce the insurance company's regulatory costs. The Financial Stability Oversight Council (FSOC), which convenes top market and bank regulators, is set to vote on whether to remove Prudential's label as a "systemically significant financial institution," according to a person familiar with the matter. The review of Prudential's systemically risky tag, which adds an extra layer of oversight by the Federal Reserve, is part of a push by the administration of U.S. President Donald Trump to ease regulatory powers created after the 2007-2009 financial crisis.
Prudential Capital Group opened a new Mexico City office* as it continues to build relationships with and provide long-term capital to strong companies in a wide range of industries in Latin America, the company announced today.
Regulators are preparing to vote on whether to remove Prudential Financial from federal oversight, the latest move to undo Obama-era policies that brought tighter scrutiny to large financial firms outside ...
CNBC's 'Squawk Box' team reports on Prudential Financial losing its systemically important financial institution (SIFI) designation after Prudential maintained that it never met the standard.