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Search resuls for: "Prudential Financial Inc"


9 mentions found


☆ Beware of these expensive stocks that analysts don't like
  + stars: | 2023-10-17 | by ( Brian Evans | ) www.cnbc.com   time to read: +8 min
For context, the longer-term P/E ratio for the past 12 months of the S & P 500 is about 21 times trailing earnings. That compares to a five-year average P/E ratio of 19.87. The life insurer's 12-month trailing P/E ratio came in at 31.99, compared to its five-year average P/E ratio of 13.62. For context, the longer-term P/E ratio for the past 12 months of the S&P 500 is about 21 times trailing earnings. The life insurer's 12-month trailing P/E ratio came in at 31.99, compared to its five-year average P/E ratio of 13.62.
Persons: JPMorgan's Marko Kolanovic, David Vogt, Tyson Foods, Jefferies, Henry Schein, Michael Bloom, Darla Mercado, Angela Weiss, HSIC Henry Schein, MOH Organizations: Treasury, Federal Reserve, CNBC Pro, IBM, UBS, Premier U.S, Tyson, Prudential Financial, Jefferies, Prudential, CNBC, Hewlett Packard Enterprise, Molina Healthcare, Pinnacle West, Traders, New York Stock Exchange, AFP, Getty, Business Machines Corp, Healthcare, Progressive Corp, Pinnacle West Capital Corp, TSN Tyson Foods, Business Machines Corp IBM, Target Premier U.S, Tyson Foods Inc TSN, Prudential Financial Inc
☆ Insight: Insurers poised for US break on investment losses from high rates
  + stars: | 2023-08-14 | by ( Koh Gui Qing | ) www.reuters.com   time to read: +7 min
A negative IMR forces insurers to tap pots of money they would have otherwise spent on their business or returned to shareholders. Among those insurers are Prudential Financial (PRU.N), OneAmerica Financial Partners, Principal Financial (PFG.O) and Massachusetts Mutual Life Insurance Company, according to Fitch. That compares to $1.8 billion in net fixed income-related losses Prudential recorded in 2022. They do not give banks the option of deferring interest rate-related losses, fearing excesses that led to the 2008 financial crisis. DEFERRING LOSSESFollowing the rule change, insurers will be allowed to amortize interest rate-related losses over time equivalent to 10% of their statutory surplus.
Persons: Dado Ruvic, Fitch, Edward Stone, Stone, Ken Tanji, MassMutual, OneAmerica, Steven Zabel, Zabel, Koh Gui Qing, David French, Greg Roumeliotis, Anna Driver Organizations: Prudential Financial, REUTERS, SEATTLE, Sunday, National Association of Insurance, Reuters, Federal Reserve, OneAmerica Financial Partners, Massachusetts Mutual Life Insurance, Prudential, Silicon Valley Bank, First Republic Bank, Insurance, American Council of, Equitable Holdings, MetLife, U.S . Securities, Exchange Commission, SEC, MassMutual, OneAmerica, Financial, Unum, Thomson Locations: United States, U.S, Seattle, Fitch, Silicon, New York
☆ Insurer Prudential Financial's profit rises on strong gains in U.S. unit
  + stars: | 2023-08-01 | by ( ) www.reuters.com   time to read: +1 min
Prudential Financial Inc logo is seen displayed in this illustration taken, April 10, 2023. REUTERS/Dado Ruvic/Illustration/File PhotoAug 1 (Reuters) - Prudential Financial (PRU.N) on Tuesday reported a 21.5% rise in second-quarter adjusted profit as the insurer's U.S. unit benefited from a higher net investment spread and more favorable underwriting. Its U.S. businesses reported adjusted operating income of $956 million for the second quarter, compared with $573 million a year ago. Prudential's assets under management were roughly flat at $1.4 trillion in the second quarter. Prudential said it returned $713 million to shareholders in the second quarter, including $250 million of share repurchases and $463 million of dividends.
Persons: Dado Ruvic, Charles Lowrey, Manya Saini, Devika Organizations: Prudential Financial, REUTERS, Investment, Prudential, Thomson Locations: U.S, Ukraine, Bengaluru
☆ US appeals court revives Prudential shareholder case
  + stars: | 2023-06-13 | by ( Jody Godoy | Thomson Reuters | Jody Godoy Reports On Banking | ) www.reuters.com   time to read: +2 min
Companies Prudential Financial Inc FollowJune 13 (Reuters) - A U.S. appeals court on Tuesday partly revived a shareholder lawsuit against Prudential Financial Inc (PRU.N) alleging the insurer concealed a shortfall with its individual life insurance policy reserves in 2019. A spokesperson for Prudential did not immediately respond to a request for comment. While it revived investors' allegations over the mortality statements, the Philadelphia-based appeals court agreed that the adequate level of reserves was a matter of opinion, affirming dismissal of those claims. V. Prudential Financial Inc et al., No. Circuit Court of Appeals.
Persons: Jody Godoy, Bill Berkrot Organizations: Prudential Financial, Prudential Financial Inc, U.S, Circuit, Prudential, Warren Police, Appeals, Thomson Locations: Michigan, Newark , New Jersey, Jersey, Philadelphia, New York
☆ MetLife profit drops as economic worries hurt investment income
  + stars: | 2023-05-03 | by ( ) www.reuters.com   time to read: +1 min
May 3 (Reuters) - MetLife Inc's (MET.N) first-quarter profit missed Wall street estimates on Wednesday as growing economic uncertainty hurt the insurer's investment income, sending its shares down 2% in extended trading. Adjusted net investment income fell 8% to $4.6 billion in a quarter marred by a string of high-profile bank collapses that roiled financial stocks. "We remain focused on managing risk across economic cycles and controlling what we can to deliver for our shareholders and our stakeholders," Khalaf said. Adjusted premiums, fees and other revenues - excluding pension risk transfers (PRT) at MetLife - rose 3% to $11.54 billion. Rival insurer Prudential Financial Inc (PRU.N) had reported a lower-than-expected quarterly profit on Tuesday due to a decline in its assets under management.
☆ Analysis: Small U.S. banks imperiled by big office loans
  + stars: | 2023-03-24 | by ( Saeed Azhar Matt Tracy | Saeed Azhar | Matt Tracy | ) www.reuters.com   time to read: +4 min
Both Goldman and Fitch did not specify which small lenders were most vulnerable. The total exposure of the U.S. banking system to CRE loans was $2.5 trillion at the end of December, Fitch said. HEADWINDSThe CRE market faces headwinds that could hobble small banks. Rising interest rates have also depressed demand for CRE loans, while weighing on real estate investment trusts (REITs). Goldman's Viswanathan cited several indicators that reflected a weakening market for office real estate: declining occupancy rates, falling appraisal values and rising defaults.
☆ Pacific Life Insurance Names New Tech Chief From USAA
  + stars: | 2022-11-16 | by ( Belle Lin | ) www.wsj.com   time to read: +3 min
She replaces Mike Shadler, who has served as CIO since 2018 and plans to retire at the end of the year, a spokesperson for the life insurance company said. She will report directly to Pacific Life Chief Executive Darryl Button. Still, many life insurers aren’t meeting customer expectations in terms of speed of service and method of communication, said Ted Epps, Global Life Insurance Technology Leader at Ernst & Young. Insurance technology is “the convergence of modern digital experiences and advice with proven products,” Mr. Epps said. Prudential Financial Inc. is using more digital and cloud-based tools for managing expenses and financial planning, chief financial officer Ken Tanji told The Wall Street Journal in February.
☆ Prudential Suffers Big Loss on Rising Rates
  + stars: | 2022-11-01 | by ( Leslie Scism | ) www.wsj.com   time to read: 1 min
Rising interest rates and volatile stock markets battered insurer Prudential Financial Inc. in the third quarter, while American International Group Inc. was stung by claims from Hurricane Ian in Florida, the companies said. The two big insurers faced different challenges in the difficult quarter. Prudential’s so-called adjusted operating income slid 46% to $803 million from $1.49 billion, and it swung to a loss of $284 million on a net basis, from net of $1.53 billion in the year-earlier period.
☆ With Interest Rates Rising, Companies Look to Unload Pension Liabilities
  + stars: | 2022-09-28 | by ( Jennifer Williams-Alvarez | ) www.wsj.com   time to read: +6 min
Rising interest rates are boosting corporate pension plans, providing finance chiefs with an option to lighten their companies’ balance sheets and transfer obligations to insurers. PREVIEWWhen interest rates rise, liabilities for defined-benefit plans—a type of pension plan that promises fixed amounts to participants—shrink. They can also move just a portion of their pension obligations, but that still requires a high funding status. “If interest rates level off or decrease, the funded status could fall pretty quickly,” said Matt McDaniel, a partner at Mercer who advises companies on pension risk transfers. Recent stock market declines have hurt some defined-benefit pension plans invested in publicly traded equities, Mr. McDaniel said.
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