PRU - Prudential Financial, Inc.

NYSE - NYSE Delayed Price. Currency in USD
53.04
-1.61 (-2.95%)
At close: 4:02PM EDT
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Previous Close54.65
Open51.57
Bid51.13 x 800
Ask52.99 x 1400
Day's Range50.78 - 55.35
52 Week Range38.62 - 106.40
Volume4,647,251
Avg. Volume3,332,522
Market Cap21.057B
Beta (5Y Monthly)1.59
PE Ratio (TTM)5.25
EPS (TTM)10.11
Earnings DateMay 04, 2020
Forward Dividend & Yield4.40 (8.05%)
Ex-Dividend DateFeb 13, 2020
1y Target Est86.07
  • ANNUAL ORDINARY AND EXTRAORDINARY MEETINGS ANNOUNCEMENT FOR HOLDERS OF TRUST STOCK CERTIFICATES OF NON-AMORTIZABLE CBFIs TRADING UNDER THE TICKER SYMBOL “TERRA13”
    GlobeNewswire

    ANNUAL ORDINARY AND EXTRAORDINARY MEETINGS ANNOUNCEMENT FOR HOLDERS OF TRUST STOCK CERTIFICATES OF NON-AMORTIZABLE CBFIs TRADING UNDER THE TICKER SYMBOL “TERRA13”

    MEXICO CITY, March 25, 2020 -- Terrafina (”TERRA”) (BMV: TERRA13), a leading Mexican industrial real estate investment trust (“FIBRA”), externally advised by PGIM Real Estate.

  • Is It Too Late To Consider Buying Prudential Financial, Inc. (NYSE:PRU)?
    Simply Wall St.

    Is It Too Late To Consider Buying Prudential Financial, Inc. (NYSE:PRU)?

    Let's talk about the popular Prudential Financial, Inc. (NYSE:PRU). The company's shares saw a decent share price...

  • Prudential Financial Inc (PRU): Hedge Funds Caught Wrong Footed
    Insider Monkey

    Prudential Financial Inc (PRU): Hedge Funds Caught Wrong Footed

    Coronavirus is probably the 1 concern in investors' minds right now. It should be. On February 27th we published an article with the title Recession is Imminent: We Need A Travel Ban NOW. We predicted that a US recession is imminent and US stocks will go down by at least 20% in the next 3-6 […]

  • GuruFocus.com

    5 High-Yield Financial Stocks to Buy Thanks to the Coronavirus

    Markets have plunged in recent weeks, but disciplined investors can take advantage of the selloff and buy high-yielding names at cheaper prices Continue reading...

  • Prudential Financial announces inaugural green bond issuance
    Business Wire

    Prudential Financial announces inaugural green bond issuance

    Prudential Financial, Inc. (NYSE: PRU) announced the offering of the firm’s first green bond, furthering the company’s commitment to sustainable investments which deliver a positive environmental impact.

  • PGIM Global High Yield Fund, Inc. Reports Unaudited Earnings and Financial Position for Quarter Ended January 31, 2020
    Business Wire

    PGIM Global High Yield Fund, Inc. Reports Unaudited Earnings and Financial Position for Quarter Ended January 31, 2020

    PGIM Global High Yield Fund, Inc. (NYSE: GHY), (the "Fund"), a diversified, closed-end management investment company, announced today its unaudited investment results for the quarter ended January 31, 2020.

  • Prudential (PRU) Down 19.3% Since Last Earnings Report: Can It Rebound?
    Zacks

    Prudential (PRU) Down 19.3% Since Last Earnings Report: Can It Rebound?

    Prudential (PRU) reported earnings 30 days ago. What's next for the stock? We take a look at earnings estimates for some clues.

  • Terrafina Announces Distribution Payment Corresponding to the Fourth Quarter of 2019
    GlobeNewswire

    Terrafina Announces Distribution Payment Corresponding to the Fourth Quarter of 2019

    MEXICO CITY, March 03, 2020 -- Terrafina (”TERRA”) (BMV: TERRA13), a leading Mexican industrial real estate investment trust (“FIBRA”), externally advised by PGIM Real Estate.

  • PGIM’s real estate businesses complete over $35B in transactions worldwide in 2019
    Business Wire

    PGIM’s real estate businesses complete over $35B in transactions worldwide in 2019

    The real estate businesses of PGIM completed over $35 billion in transactions worldwide in 2019.

  • Fourth Quarter and Full Year 2019 Earnings Report
    GlobeNewswire

    Fourth Quarter and Full Year 2019 Earnings Report

    MEXICO CITY, Feb. 27, 2020 -- Terrafina® (“TERRA” or “the Company”) (BMV: TERRA13), a leading Mexican industrial real estate investment trust (“FIBRA”), externally advised by.

  • Moore Kuehn, PLLC Encourages Investors of PRU, BOX, and SIX to Contact Law Firm
    PR Newswire

    Moore Kuehn, PLLC Encourages Investors of PRU, BOX, and SIX to Contact Law Firm

    Moore Kuehn, PLLC, a securities law firm located on Wall Street in downtown New York City, is investigating potential claims involving directors and officers regarding possible breaches of fiduciary duties and other violations of law related to whether insiders, as alleged in federal securities lawsuits, caused their companies to make false and/or misleading statements and/or failed to disclose, among other things, that:

  • Franklin Escapes Fund Purgatory With Legg Mason Purchase
    Bloomberg

    Franklin Escapes Fund Purgatory With Legg Mason Purchase

    (Bloomberg Opinion) -- In the asset-management industry, reputation is everything. A mutual-fund manager might have a fantastic strategy, but without a steady stream of cash flowing in to set up the position, returns may come in weaker than expected. That, in turn, could lead some investors to lose confidence that the concept was ever great in the first place.That, in a nutshell, is what happened to Franklin Resources Inc. over the last several years. The company has been stuck near $700 billion in assets under management for the past 18 months, down from a peak of $921 billion in mid-2014, while its competitors have grown steadily. Moody’s Investors Service downgraded Franklin’s credit rating in mid-2018 and last year “expressed concern that Franklin's reputation for global/international strategies and solid relative investment performance has been undermined.” That’s not quite a death knell, but it’s close. Faced with that grim reality, Franklin made the obvious move: It got bigger in a hurry. On Tuesday, it announced an agreement to acquire asset manager Legg Mason Inc. for almost $4.5 billion. The deal would create a $1.5 trillion behemoth whose size trails only BlackRock Inc., Vanguard Group Inc., Fidelity Investments, Capital Group Cos. and Amundi Asset Management among “independent asset managers,” according to Willis Towers Watson data cited by Franklin. It would leap ahead of Invesco Ltd and T. Rowe Price Group Inc. in this arms race. (The ranking format conspicuously excludes investing giants tied to Wall Street banks like Goldman Sachs Group Inc. and JPMorgan Chase & Co., or those affiliated with insurers, like Allianz Group and Prudential Financial.)At first glance, the takeaway is that the entire asset-management industry is consolidating because of the rise in passive, low-cost index funds, and Franklin’s move is just the latest example. While that’s true, the combination of these two firms in particular suggests that in the current investing landscape, fund companies can either choose to be the biggest, or they can elect to remain small, nimble and specialized, but falling somewhere in the middle is purgatory. Neither firm is accustomed to being viewed as a second- or third-tier money manager. After all, Franklin, which leans into its affiliation with one of America’s iconic founding fathers, started in 1947, while Legg Mason’s precursor firm dates back to the 19th century. And yet, both Legg Mason and Franklin have fallen way behind the top firms, and Franklin in particular was at risk of slipping even further away from the next group of asset managers.Franklin’s website declares it’s “a global leader in asset management with more than seven decades of experience.” At what ranking does being a “global leader” no longer hold up? The company clearly wasn’t interested in finding out.With the purchase, Franklin will strike an almost perfect balance between institutional and retail investors, which may help mitigate volatility in fund flows. Notably, it expects to maintain a nearly identical geographic focus, which is important given that some of its flagship offerings are worldwide in scope. For example, the $26.3 billion Templeton Global Bond Fund holds a large position in Brazil’s bonds, and both Franklin and Legg Mason have a presence in Sao Paulo. Even as active managers grow, they need to retain their identity.The acquisition also braces for an uncertain future. Legg Mason recently made headlines for announcing plans to take a majority stake in Precidian, known for its ActiveShares exchange-traded funds. If successful, the products could upend the mutual-fund industry because they would trade daily and yet require reporting only once a quarter. Analysts have suggested some $7.2 trillion in mutual-fund strategies could work in this format. Franklin took too long to get on the ETF bandwagon years ago and appears eager not to make a similar misjudgment.Now, one big move probably won’t be enough to bring Franklin back to its glory days. But by combining with Legg Mason, it at least has more than a puncher’s chance to reclaim its place as a leader in active management. Traders certainly seem optimistic: Franklin’s shares rose as much as 13.3% on Tuesday to $27.60, the biggest intraday jump since November 2016.The onus is now on Franklin’s fund managers to live up to their reputations. If there were any malaise in the air over in San Mateo, Calfornia, about the company’s future, management has alleviated it for now. Franklin is back in the game.(Corrects the size of the combined entity in the third paragraph. )To contact the author of this story: Brian Chappatta at bchappatta1@bloomberg.netTo contact the editor responsible for this story: Daniel Niemi at dniemi1@bloomberg.netThis column does not necessarily reflect the opinion of Bloomberg LP and its owners.Brian Chappatta is a Bloomberg Opinion columnist covering debt markets. He previously covered bonds for Bloomberg News. He is also a CFA charterholder.For more articles like this, please visit us at bloomberg.com/opinionSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

  • Bloomberg

    For Barclays, Jeffrey Epstein Questions Go Beyond Jes Staley

    (Bloomberg Opinion) -- That Jes Staley’s conduct as chief executive officer of Barclays Plc is being probed by British regulators for a second time is remarkable and troubling. More than most businesses, banks depend on the trust of their customers; the conduct of the boss is critical to that.The latest inquiry, by the Financial Conduct Authority and the Prudential Regulation Authority, is looking at Staley’s account of his relationship with the convicted sex offender Jeffrey Epstein. One mustn’t prejudge these things, but concerns about the bank’s future leadership and strategic direction will fester until the supervisors decide whether the 63-year-old American did anything wrong — even if the board is backing him.Staley’s push into investment banking has been paying off for Barclays, but it matters more that the British lender can show it has a sound culture at the top. Any doubts will unsettle clients, staff and investors, hurting day-to-day business and long-term confidence in the company.After reprimanding and fining Staley in 2018 for attempting repeatedly to unmask a whistleblower — a probe that came close to ending his tenure — the regulators are looking now at whether he was fully upfront with the Barclays board about how close he was to Epstein. The regulators had gone to Barclays last summer, when the controversy around Epstein blew up again, to ask about the ties between the two men.Staley says he’s been open with Barclays on Epstein going back to 2015. The bank’s own review of his disclosures concluded that he’d been “sufficiently transparent”; the board unanimously recommended his reelection later this year.For investors — who pushed the bank’s shares down as much as 4% on Thursday — understanding the scope and terms of the board’s review would have been helpful. Who was the external counsel and how was the review handled? What information did counsel have access to? It’s far from ideal that shareholders weren’t told about regulators probing Staley’s representations since at least December. The board, including chairman Nigel Higgins, has questions to answer too. Just how honest Staley has been on his dealings with Epstein is no small distraction, especially when viewed alongside the whistleblower episode. Epstein died in jail in August facing charges of sex-trafficking of minors. For decades, he cultivated ties to international elites that included billionaires and royalty.There’s little doubt that Staley and Epstein were in contact over many years. The two were introduced in 2000, when Staley was asked to run JPMorgan Chase & Co.’s private bank, where Epstein was already a client. Less clear is how the relationship evolved and whether the ties extended beyond what Barclays has defined as “professional.”According to a New York Times report, Staley visited Epstein in Florida when he was serving a prison sentence following a 2008 guilty plea of soliciting prostitutes, including a minor. Staley’s name also appeared as the referee in a 2013 banking application by Epstein, the Times has also reported. (A spokesman told the Times Staley had not been aware). In April 2015, Staley and his wife visited Epstein at his private Caribbean island. While contacts between the two “tapered off” after Staley left JPMorgan in 2012, the relationship didn’t end until late 2015, Staley said on Thursday. “I thought I knew him well and I didn’t,” Staley told reporters. “I deeply regret having had a relationship” with Epstein, he added.It may turn out to be a big regret. Reporting fourth-quarter earnings on Thursday, Barclays signaled 2020 will be challenging amid low interest rates and an uncertain economic outlook, and that it will be difficult to achieve profitability targets. It could do without another Staley controversy. His struggle will be retaining the confidence of those around him.To contact the author of this story: Elisa Martinuzzi at emartinuzzi@bloomberg.netTo contact the editor responsible for this story: James Boxell at jboxell@bloomberg.netThis column does not necessarily reflect the opinion of Bloomberg LP and its owners.Elisa Martinuzzi is a Bloomberg Opinion columnist covering finance. She is a former managing editor for European finance at Bloomberg News.For more articles like this, please visit us at bloomberg.com/opinionSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

  • Insurance comparison firm SelectQuote taps banks for IPO: sources
    Reuters

    Insurance comparison firm SelectQuote taps banks for IPO: sources

    SelectQuote has hired investment banks for an initial public offering (IPO) that could value the owner of the eponymous insurance policy comparison website at more than $2 billion, including debt, according to people familiar with the matter. SelectQuote is working with banks that include Morgan Stanley <MS.N> and Credit Suisse Group AG <CSGN.S> on an IPO that could come in the first half of this year, subject to market conditions, according to the sources, who spoke on condition of anonymity because the information is not public.

  • Solid Q4 Earnings Boost Insurance ETFs
    Zacks

    Solid Q4 Earnings Boost Insurance ETFs

    The string of solid fourth-quarter earnings from the insurance industry players had a positive impact on the related ETFs that saw smooth trading over the past week.

  • Prudential Financial, Inc. (NYSE:PRU)'s Could Be A Buy For Its Upcoming Dividend
    Simply Wall St.

    Prudential Financial, Inc. (NYSE:PRU)'s Could Be A Buy For Its Upcoming Dividend

    Readers hoping to buy Prudential Financial, Inc. (NYSE:PRU) for its dividend will need to make their move shortly, as...

  • Thomson Reuters StreetEvents

    Edited Transcript of PRU earnings conference call or presentation 5-Feb-20 4:00pm GMT

    Q4 2019 Prudential Financial Inc Earnings Call

  • Barrons.com

    Prudential Financial, Gilead, and 3M Raised Dividends Last Week

    Biotech company Gilead Sciences is increasing its quarterly dividend to 68 cents a share, an 8% boost, and Prudential declared a 10% dividend increase.

  • Prudential Financial, Inc. Just Beat EPS By 11%: Here's What Analysts Think Will Happen Next
    Simply Wall St.

    Prudential Financial, Inc. Just Beat EPS By 11%: Here's What Analysts Think Will Happen Next

    Investors in Prudential Financial, Inc. (NYSE:PRU) had a good week, as its shares rose 4.7% to close at US$95.33...

  • Prudential (PRU) Q4 Earnings Surpass Estimates, Fall Y/Y
    Zacks

    Prudential (PRU) Q4 Earnings Surpass Estimates, Fall Y/Y

    Prudential's (PRU) Q4 results benefit from solid segmental contributions at Prudential Global Investment Management (PGIM), U.S. Individual Solutions and U.S. Workplace Solutions.

  • Prudential (PRU) Tops Q4 Earnings and Revenue Estimates
    Zacks

    Prudential (PRU) Tops Q4 Earnings and Revenue Estimates

    Prudential (PRU) delivered earnings and revenue surprises of 15.92% and 22.63%, respectively, for the quarter ended December 2019. Do the numbers hold clues to what lies ahead for the stock?

  • Oregon's Top Youth Volunteers Of 2020 Selected By National Program
    PR Newswire

    Oregon's Top Youth Volunteers Of 2020 Selected By National Program

    Kaiya Laguardia, 17, of Portland and Jacob Van, 13, of Beaverton today were named Oregon's top two youth volunteers of 2020 by The Prudential Spirit of Community Awards, a nationwide program honoring young people for outstanding acts of volunteerism. As State Honorees, Kaiya and Jacob each will receive $1,000, an engraved silver medallion and an all-expense-paid trip in early May to Washington, D.C., where they will join the top two honorees from each of the other states and the District of Columbia for four days of national recognition events. During the trip, 10 students will be named America's top youth volunteers of 2020.