Prudential Financial, Inc.

Overview

Date Founded

1875

Headquarters

751 Broad Street,23rd floor,Newark, NJ 07102

Type of Company

Public

Employees (Worldwide)

51.5K

Industries

Insurance: Life & Health
Insurance Brokerage
Investment Banking & Brokerage

Company Description

For more than 135 years, Prudential Financial, Inc., has helped individual and institutional customers grow and protect their wealth. Today, we are one of the world's largest financial services institutions with operations in the United States, Asia, Europe, and Latin America. We also have one of the most recognized and trusted brand symbols: The Rock ®, an icon of strength, stability, expertise, and innovation.

Website

http://www.prudential.com

Contact Data

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In The News

Nasdaq

January 22, 2021

EXCLUSIVE-Banco do Brasil resumes sale process of asset management unit BB DTVM -sources

The New York Times

January 17, 2021

Paid Notice: Deaths MCQUADE, LAWRENCE C

News Bites Canadian Markets

January 15, 2021

Stock Weekly: Galway Metals (GWM:CAD1.07) down 6.1% in 2 weeks

Nasdaq

January 14, 2021

Genesis Healthcare, Inc. selects Prudential to oversee $1.1B in retirement assets

Nasdaq

January 14, 2021

Reasons Why Investors Should Hold Prudential (PRU) Stock

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Executives & Employees

Charles F. Lowrey, Jr.

Chairman & Chief Executive Officer

Ken Tanji

Executive Vice President & Chief Financial Officer

Timothy L. Schmidt

Senior Vice President & Chief Investment Officer

Ann Kappler

Executive Vice President & General Counsel

Susan Somersille Johnson

Chief Marketing Officer

Nicholas C. Silitch

Senior Vice President & Chief Risk Officer

Stacey Goodman

Executive Vice President & Chief Information Officer

Robert D. Axel

Principal Accounting Officer & Senior Vice President

Lucien Achille Alziari

Executive Vice President & Chief Human Resources Officer

Candace J. Woods

Chief Actuary & Senior Vice President

Board of Directors

Charles F. Lowrey, Jr.

Chairman & Chief Executive Officer at Prudential Financial, Inc.

Thomas J. Baltimore, Jr.

Chairman of the Board, President & Chief Executive Officer at Park Hotels & Resorts, Inc.

Christine Poon

Senior Advisor, Healthcare Banking at Barclays Plc

Martina Hund-Mejean

Former Chief Financial Officer at MasterCard, Inc.

Michael A. Todman

Former Vice Chairman & President at Whirlpool Corp.

George Paz

Former Chairman & Chief Executive Officer at Express Scripts, Inc.

Gilbert Casellas

Former Vice President, Corporate Responsibility at Dell, Inc.

Sandra Pianalto

Firstmerit Chair in Banking at University of Akron

Robert M. Falzon

Vice Chairman at The Prudential Insurance Company of America, Inc.

Douglas Allen Scovanner

Founder & Managing Member at Comprehensive Financial Strategies LLC

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Prudential Financial, Inc.

Owners & Shareholders

Details Hidden

PPM America, Inc.

PPM uses a variety of methods of analysis in formulating investment advice and/or managing client assets. Fundamental and technical in-house research underpins the firm’s analysis of current or potential investments. The firm utilizes a team-based approach to manage the assets of the portfolio. They also implement client investment strategies primarily through designated portfolio management teams focused on particular asset classes, including fixed income, bank loans, private debt, public equity and private equity.

Details Hidden

Douglas Lane & Associates LLC

DCLA utilize fundamental, top-down, bottom-up analysis for determining investment decisions. Their investments are not constrained by company size, style, or geography. The firm’s investment philosophy seeks to provide above-average total returns for clients’ capital through long-term investment in individual equity and fixed-income securities. They invest in companies that have business models that can generate attractive long-term returns for their clients. They do not invest in any pooled or collective vehicles such as hedge funds or private equity funds. DCLA allocates clients’ capital between common stocks and fixed-income securities in accordance with each client's individual risk tolerance and investment objectives. Portfolios own primarily individual common stocks and fixed-income securities. Douglas Lane & Associates does not invest in or sell any financial products such as mutual funds, ETFs, annuities, or insurance.

Details Hidden

KBI Global Investors Ltd.

KBI focuses on their core areas of expertise: environmental equity strategies, dividend-oriented strategies and multi-asset strategies. They follow a diversified, total return approach emphasizing the importance of dividend yield, dividend growth and price increases. They invest across industries, regions and market-caps. The firm offers differentiated and innovative investment strategies which enable investors to generate consistent alpha with less risk. Each strategy is managed by specialist teams with investment autonomy and operational independence.

Recent Transactions

Details Hidden

KB Financial Group, Inc. purchases Prudential Life Insurance of Korea from Prudential Financial, Inc.

Details Hidden

Prudential Financial, Inc. purchases Assurance IQ LLC

Details Hidden

Eurovita Holding SpA, Cinven Group Ltd. purchase Pramerica Life SpA from Prudential Financial, Inc.

Insider Transactions

Details Hidden

Scott Garrett Sleyster

Details Hidden

Ken Tanji

Details Hidden

Timothy L. Schmidt

Transaction Advisors

Auditor

PricewaterhouseCoopers LLP

Advised onPrudential Financial, Inc. issued USD Common Stock

Legal Advisor

Debevoise & Plimpton LLP

Advised onWells Fargo & Co. purchases Wachovia Securities LLC from Prudential Financial, Inc.

Legal Advisor

Sullivan & Cromwell LLP

Advised onPrudential Financial, Inc. purchases CIGNA Corp. /Retirement Planning Business from Cigna Holding Co.

Legal Advisor

David Grosgold

Advised onPrudential Financial, Inc. purchases AFP Habitat SA from Inversiones La Construccion SA

Co-Chair, Financial Institutions Group

John M. Vasily

Advised onWells Fargo & Co. purchases Wachovia Securities LLC from Prudential Financial, Inc.

Legal Advisor

Gary M. Friedman

Advised onPrudential Financial, Inc. purchases AFP Habitat SA from Inversiones La Construccion SA

Advisors & Consultants

Legal Advisor

Holly J. Gregory

Partner at Sidley Austin LLP

Legal Advisor

Sarah A. W. Fitts

Partner at Schiff Hardin LLP

Legal Advisor

Stephen D. Nordahl

Partner at Gibson, Dunn & Crutcher LLP

Clients

Fannie Mae

Federal National Mortgage Association is a government-sponsored company. It engages in the provision of liquidity for purchases of homes and financing of multifamily rental housing and refinancing existing mortgages. The firm operates through the following segments: Single-Family and Multifamily. The Single-Family segment offers liquidity to the mortgage market and increase the availability and affordability of housing for single families. The Multifamily segment includes guaranty fees on the mortgage and on the multifamily mortgage loans. Federal National Mortgage Association was founded in 1938 and is headquartered in Washington, DC.

Marcus & Millichap, Inc.

Marcus & Millichap, Inc. engages in the provision of investment real estate brokerage services. It specializes in commercial real estate investment sales, property financing, research, and advisory services. The company was founded by George M. Marcus and William A. Millichap in 1971 and is headquartered in Calabasas, CA.

Freddie Mac

Freddie Mac was chartered by Congress in 1970 with a public mission to stabilize the nation's residential mortgage markets and expand opportunities for homeownership and affordable rental housing. Our statutory mission is to provide liquidity, stability and affordability to the U.S. housing market. We participate in the secondary mortgage market by purchasing mortgage loans and mortgage-related securities for investment and by issuing guaranteed mortgage-related securities, principally those we call PCs. The secondary mortgage market consists of institutions engaged in buying and selling mortgages in the form of whole loans (i.e., mortgages that have not been securitized) and mortgage-related securities. We do not lend money directly to homeowners.

Key Stats and Financials As of 2019

Market Capitalization

$33.3B

Total Enterprise Value

$70.7B

Earnings Per Share

$10.11

Revenue

$64.8B

Total Equity

$63.7B

Net Profit

$4.14B

Enterprise Value / Sales

1.09x

TEVNet Income

17.07x

Debt TEV

0.45x

Total Debt

$31.5B

Three Year Compounded Annual Growth Rate Of Revenue

3.31%

Non-Profit Donations & Grants

$50K - $100K

2020

University of Delaware

$100 - $999

2020

Hawaii Foodbank, Inc.

$5M - $10M

2019

B Lab Co.

Political Donations

$1,200

2014

Samuel Scott Olens

$1,500

2014

Nathan Deal

$5,000

2014

Kevin McCarthy

Investments

Details Hidden

Puma Biotechnology, Inc.

Puma Biotechnology, Inc. is a development stage biopharmaceutical company. It acquires and develops innovative products for the treatment of various forms of cancer. The company focuses on in-licensing drug candidates that are undergoing or have already completed initial clinical testing for the treatment of cancer and then seek to further develop those drug candidates for commercial use. Puma Biotechnology was founded by Alan H. Auerbach on September 15, 2010 and is headquartered in Los Angeles, CA.

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Remitly, Inc.

Remitly, Inc. operates as a digital remittance company that provides mobile money transfer services. The firm enables consumers to make person-to-person international money transfers online through web and a proprietary mobile application. The company was founded by Matthew B. Oppenheimer, Shivaas Gulati, Motti Shechter and Joshua Hug in 2011 and is headquartered in Seattle, WA.

Details Hidden

Point Digital Finance, Inc.

Point Digital Finance, Inc. engages in the provision of technology platform for homeowners to sell fractional equity in their homes. The company was founded by Eddie Lim, Eoin Matthews, and Alastair Rampell in 2014 and is headquartered in Palo Alto, CA.

Suppliers

SSI Securities Corp. Investment Banking & Brokerage | Ho Chi Minh City, Vietnam

SSI Securities Corp. engages in the provision of brokerage services, securities trading, finance and investment advisory service, custodian service, and underwriting for share issuance. It operates through the following business segments: Brokerage and Customer Services, Trading Activities, Treasury Activities, Fund Management, and Investment Banking and Others. The firm also provides fundamental equity research, economics research, and investment strategy research services. The company was founded by Hung Duy Nguyen on December 30, 1999 and is headquartered in Ho Chi Minh City, Vietnam.

Wells Fargo & Co. Management Consulting | Minneapolis, MN

Wells Fargo & Co. is a diversified, community-based financial services company. It is engaged in the provision of banking, insurance, investments, mortgage, and consumer and commercial finance. It firm operates through the following segments: Community Banking, Wholesale Banking, Wealth & Investment Management, and Other. The Community Banking segment offers complete line of diversified financial products and services for consumers and small businesses including checking and savings accounts, credit and debit cards, and automobile, student, and small business lending. The Wholesale Banking segment provides financial solutions to businesses across the United States and globally. The Wealth and Investment Management segment includes personalized wealth management, investment and retirement products and services to clients across U.S. based businesses. The Other segment refers to the products of WIM customers served through community banking distribution channels. The company was founded by Henry Wells and William G. Fargo on March 18, 1852 and is headquartered in San Francisco, CA.

Spackman Entertainment Group Ltd. Holding Companies | Seoul, South Korea

Spackman Entertainment Group Ltd. operates as an entertainment holding company engages in the independent development, production, presentation and financing of theatrical motion pictures in Korea. It also invests into entertainment companies and film funds that can financially and strategically complement. The company was founded on January 1, 2014 and is headquartered in Seoul, South Korea.

Awards & Honors

Rank #50

2016

Fortune Magazine - Fortune 1000 Companies