Prudential Financial (PRU)

Prudential Dental Insurance Goes National

Tuesday May 22nd 2012 03:00:00 PM

NEWARK, N.J., May 22, 2012 - Prudential Financial, Inc.’s (NYSE:PRU) Group Insurance business is now offering Dental Insurance in all 50 states. With the expanded offerings of three networks, each with different strengths and regional presence, employees have access to 190,000 provider locations for their dental care, allowing them to choose the dental provider that best meets their particular needs.

Prudential Finds Employer-Sponsored Return to Work Programs Reduce Costs and Boost Productivity

Tuesday May 22nd 2012 10:00:00 AM

NEWARK, N.J., May 22, 2012 - The economic climate of the last few years has compelled employers to do more with less in all areas of their business. Having and keeping experienced, productive workers on the job is key to meeting this challenge. A new report issued by Prudential Financial, Inc. (NYSE: PRU), shows that by providing the right kinds of support to employees, extended disability absences can be shortened.

Prudential Fixed Income named top manager of U.S. core plus strategies

Friday May 18th 2012 01:00:00 AM

NEWARK, N.J. –Prudential Fixed Income was named the top manager of U.S. fixed income core plus strategies at Institutional Investor’s 3^rd Annual U.S. Investment Management Awards event in New York City. Prudential Fixed Income, one of the largest fixed income managers in the United States, is an asset management business of Prudential Financial, Inc. (NYSE:PRU).

Prudential honored for volunteerism in Hartford

Thursday May 17th 2012 03:00:00 PM

HARTFORD, Conn., May 17, 2012 - Prudential Retirement, a business unit of Prudential Financial, Inc. [NYSE:PRU], recently received the “Volunteering Excellence Award” from Hands on Hartford for its dedicated commitment to community outreach.

Prudential Financial to host media briefing on new research report

Thursday May 17th 2012 11:00:00 AM

Prudential Financial, Inc. (NYSE: PRU) announced today it will host a media luncheon to announce its latest research report, “The Future of Retirement and Employee Benefits: Finance Executives Share Their Perspectives.”

Prudential Financial, Inc. to Hold 2012 New York Investor Day; Live Webcast Available

Wednesday May 16th 2012 03:00:00 PM

NEWARK, N.J., May 16, 2012 - Prudential Financial, Inc. (NYSE:PRU) will hold its New York conference for institutional investors and analysts on Tuesday, May 22, 2012. On that date beginning at 1:00 p.m., the general public is invited to view a live webcast and presentation materials on the Investor Relations website at www.investor.prudential.com. A replay of the webcast will be available through June 4, 2012.

The Prudential Foundation awards $1 million to The Community FoodBank of New Jersey

Wednesday May 16th 2012 11:00:00 AM

NEWARK, N.J., May 16, 2012 - The Prudential Foundation has made a $1 million three-year grant to support The Community FoodBank of New Jersey’s capital campaign, to renovate and expand its existing facilities and update its fleets and warehouse assets at its main location in Hillside and its southern branch in Egg Harbor Township, New Jersey.

Prudential Financial hosts inaugural Peak Leadership Conference

Tuesday May 15th 2012 02:00:00 PM

NEWARK, N.J., May 15, 2012 - This month, Prudential Financial, Inc. [NYSE: PRU] is hosting the Prudential Peak Leadership Conference, an interactive leadership program designed to provide a diverse group of first and second year college students with early exposure to career opportunities in the financial services industry. The inaugural event, which will be held May 15 – 17 at Prudential’s global headquarters in Newark, NJ, is part of the company’s increased commitment to creating a diverse pipeline of talent.

Prudential general counsel Susan Blount recognized as one of the 21 Leaders for the 21st Century

Thursday May 10th 2012 11:00:00 AM

NEWARK, N.J., May 10, 2012 - Susan Blount, senior vice president and general counsel at Prudential Financial, Inc. [NYSE:PRU], has been named one of the “21 Leaders for the 21^st Century” by Women’s eNews for her pioneering work to increase diversity and inclusion in the law profession.

Prudential Financial, Inc. to Host Financial Strength Symposium for Fixed Income Analysts and Investors; Live Webcast Available

Wednesday May 9th 2012 04:00:00 PM

NEWARK, N.J., May 09, 2012 - Prudential Financial, Inc. (NYSE: PRU) will hold a symposium for fixed income analysts and investors in New York on Thursday, May 24, 2012, at which members of the senior management team will discuss Prudential’s businesses, strategies and financial position. The symposium will begin at 8:30 a.m. (ET) and is expected to conclude at noon.

America’s Top Ten Youth Volunteers Named in 17th Annual Prudential Spirit of Community Awards

Monday May 7th 2012 03:00:00 PM

WASHINGTON, May 07, 2012 - For their extraordinary efforts in serving others through volunteerism, 10 middle and high school students from across the country were named America’s top youth volunteers for 2012 today in a ceremony at the U.S. Chamber of Commerce headquarters, capping the 17th year of The Prudential Spirit of Community Awards.

Prudential Financial, Inc. to Participate in the 2012 UBS Global Financial Services Conference; Live Webcast Available

Friday May 4th 2012 04:00:00 PM

NEWARK, N.J., May 04, 2012 - Prudential Financial, Inc. (NYSE: PRU) will participate in the 2012 UBS Global Financial Services Conference in New York on Wednesday, May 9, 2012. On that day at approximately 8:00 a.m. (ET), Vice Chairman Mark Grier will discuss the company’s businesses and strategies.

Prudential Financial, Inc. Announces First Quarter 2012 Results

Wednesday May 2nd 2012 05:00:00 PM

Prudential Financial, Inc. (NYSE:PRU) today reported a net loss for its Financial Services Businesses attributable to Prudential Financial, Inc. of $988 million ($2.09 per Common share) for the first quarter of 2012, compared to net income of $539 million ($1.10 per Common share) for the year-ago quarter. After-tax adjusted operating income for the Financial Services Businesses was $741 million ($1.56 per Common share) for the first quarter of 2012, compared to $800 million ($1.62 per Common share) for the year-ago quarter. Information regarding adjusted operating income, a non-GAAP measure, is provided below.

Prudential Annuities adds new funds to leading investment lineup

Monday April 30th 2012 11:00:00 AM

NEWARK, N.J., April 30, 2012 - Reinforcing its commitment to growth and innovation in the guaranteed retirement income market, Prudential Annuities, the domestic annuity business for Prudential Financial, Inc. (NYSE:PRU), today announced two new asset allocation options for its leading investment lineup.

Prudential Group Insurance names Chuck Brousseau to head National Small Market Business Sales

Monday April 30th 2012 10:00:00 AM

NEWARK, N.J., April 30, 2012 - Prudential Group Insurance, a business of Prudential Financial, Inc. (NYSE: PRU) has named Chuck Brousseau vice president, National Small Market Business Sales. In this role Brousseau is responsible for all small market business sales strategy, sales force direction and sales support functions.

Prudential jumps into top 10 on DiversityInc "Top 50 Companies for Diversity"

Friday April 27th 2012 11:00:00 AM

NEWARK, N.J., April 27, 2012 - Prudential Financial, Inc. (NYSE: PRU) earned a top 10 spot on DiversityInc's “Top 50 Companies for Diversity" for the 12^th consecutive year, moving from No. 16 to No. 9.

Prudential Short Duration High Yield Fund, Inc. Raises $699 Million

Thursday April 26th 2012 05:00:00 PM

NEWARK, N.J., April 26, 2012 - Prudential Investments announced the initial public offering of the Prudential Short Duration High Yield Fund, Inc. (The Fund). The Fund raised $699 million in its common share offering (assuming full exercise of the underwriters’ overallotment option, which may not occur) and its shares began trading today on the New York Stock Exchange under the symbol “ISD.”

Prudential Retirement adds four new plan sponsor clients

Wednesday April 25th 2012 01:00:00 PM

NEWARK, N.J., April 25, 2012 - Prudential Retirement, a business unit of Prudential Financial, Inc. (NYSE: PRU), today announced it has been selected by four new plan sponsor clients to help place their employees on a secure path to and through retirement.

Prudential Financial named a top 20 LearningElite company

Tuesday April 24th 2012 12:15:00 PM

NEWARK, N.J., April 24, 2012 - In recognition of its world-class learning and professional development programs, Prudential Financial, Inc. [NYSE: PRU] ranked among the top 20 companies that received a 2012 LearningElite Award from Chief Learning Officer magazine.

Prudential’s Stable Value Chief addresses industry association

Monday April 23rd 2012 11:00:00 AM

NEWARK, N.J., April 23, 2012 - James King, senior vice president and head of Prudential Retirement’s Stable Value Markets Group, who began his tenure Jan. 1, 2012 as Chairman of the Board for the Stable Value Investment Association (SVIA), is today kicking off the industry association’s annual Spring seminar in Scottsdale, Ariz. Prudential Retirement is a business unit of Prudential Financial, Inc. (NYSE: PRU).

Prudential Financial names Stephen Pelletier to lead Group Insurance and Robert O’Donnell to lead its Annuities business

Wednesday April 18th 2012 12:00:00 PM

NEWARK, N.J., April 18, 2012 - Prudential Financial, Inc. (NYSE: PRU) today announced it has named two long-time executives to lead the company’s Group Insurance and Annuities businesses. Stephen Pelletier, who is currently President of Prudential Annuities, will become President of the Group Insurance Business, replacing Lori High, who has resigned. Robert O’Donnell, currently Senior Vice President, Head of Product, Investment Management and Marketing for Prudential Annuities, will become President of the Annuities business.

Prudential honored for its support of Branch Brook Park revitalization

Monday April 16th 2012 02:00:00 PM

NEWARK, N.J., April 16, 2012 - The Branch Brook Park Alliance and Essex County Executive Joseph N. DiVincenzo, Jr. today honored Prudential Financial, Inc. (NYSE:PRU) for its support of a multi-million dollar, multi-phase project to revitalize the lakefront area in Essex County Branch Brook Park’s Southern Division.

Prudential Capital Group expands energy investment appetite beyond $2 billion

Monday April 16th 2012 12:00:00 PM

DALLAS, April 16, 2012 - Prudential Capital Group has created the Dallas-based Energy Finance Group, to provide expanded financing capabilities to the energy sectors of oil and gas, utility and power, the company announced today. The group has a 2012 investment appetite of more than $2 billion of senior debt, mezzanine and equity financing available to invest in energy and power companies, utilities and energy projects.

Prudential Financial, Inc. Announces Results of Consent Solicitation

Wednesday April 11th 2012 06:00:00 PM

NEWARK, N.J., April 11, 2012 - Prudential Financial, Inc. (NYSE:PRU) today announced the successful completion of its solicitation of consents (the “Consent Solicitation”) from holders of record at 5:00 p.m., New York City time, on April 2, 2012 of its 6.625% Medium-Term Notes, Series D, due 2037 (the “Notes”) to terminate (i) the Replacement Capital Covenant, dated as of June 17, 2008, that the Company had made in favor of the holders of the Notes in connection with the Company’s issuance of its 8.875% Fixed-to-Floating Rate Junior Subordinated Notes due 2068 and (ii) the Replacement Capital Covenant, dated as of June 30, 2008, that the Company had made in favor of the holders of the Notes in connection with the Company’s issuance of its 9.0% Junior Subordinated Notes due 2068 (collectively, the “Replacement Capital Covenants”).

PREI raises $568 million from institutional investors for its newest senior housing fund

Wednesday April 11th 2012 11:00:00 AM

PARSIPPANY, N.J., April 11, 2012 - Prudential Real Estate Investors has completed the final close for its fourth senior housing fund, Senior Housing Partners IV, bringing the total amount to $568 million of discretionary capital secured from institutional investors. This is the largest senior housing fund ever for the firm. PREI® is the real estate investment and advisory business of Prudential Financial, Inc. (NYSE: PRU).

New Return to Work services bolster Prudential’s disability insurance programs

Tuesday April 10th 2012 10:00:00 AM

NEWARK, N.J., April 10, 2012 - Prudential Group Insurance, a business of Prudential Financial, Inc. (NYSE: PRU), has enhanced its Return to Work services to help employers manage absence costs and workforce productivity, and provide support for employees returning from leaves of absence.

Judy Rice receives lifetime achievement award from Fund Industry Intelligence

Monday April 9th 2012 12:00:00 PM

NEWARK, N.J., April 09, 2012 - Prudential Investments Chairman, Judy Rice was recently honored with a lifetime achievement award at Fund Industry Intelligence’s 19th Annual Mutual Fund Industry Awards. Prudential Investments is the mutual fund family of Prudential Financial, Inc. (NYSE: PRU) and offers funds across a range of asset classes and sectors, including equity, fixed income, real estate and specialty securities.

Prudential Outlines Steps to Improve America’s Retirement Security in advance of National Retirement Planning Week®, April 9-13

Thursday April 5th 2012 02:00:00 PM

NEWARK, N.J., April 05, 2012 - Recognizing the significant challenges faced by most Americans to achieve their retirement objectives, Prudential Financial has outlined steps for individuals and companies to significantly improve retirement security prospects in America, and is sharing these steps in a new white paper, a TED conversation, and a video.

Prudential Financial, Inc. Announces Consent Solicitation for the Holders of its 6.625% Medium-Term Notes, Series D, Due 2037

Tuesday April 3rd 2012 05:00:00 PM

NEWARK, N.J., April 03, 2012 - Prudential Financial, Inc. (NYSE:PRU) today announced that it has commenced a solicitation of consents (the “Consent Solicitation”) from holders of record at 5:00 p.m., New York City time, on April 2, 2012 of its 6.625% Medium-Term Notes, Series D, due 2037 (the “Notes”) to terminate (i) the Replacement Capital Covenant, dated as of June 17, 2008, that the Company made in favor of the holders of the Notes in connection with the Company’s issuance of its 8.875% Fixed-to-Floating Rate Junior Subordinated Notes due 2068 and (ii) the Replacement Capital Covenant, dated as of June 30, 2008, that the Company made in favor of the holders of the Notes in connection with the Company’s issuance of its 9.0% Junior Subordinated Notes due 2068 (collectively, the “Replacement Capital Covenants”). The proposed termination of the Replacement Capital Covenants requires the consent of the holders of at least a majority in principal amount of the Notes.

Prudential Retirement completes jumbo IncomeFlex Target third party sale

Tuesday April 3rd 2012 12:30:00 PM

NEWARK, N.J., April 03, 2012 - Prudential Retirement, a business unit of Prudential Financial, Inc. (NYSE: PRU), today announced Roseville, Calif.-based Adventist Healthcare Retirement Plan (AHRP) will be adding Prudential’s guaranteed lifetime income product, Prudential IncomeFlex Target^® (IFX Target), to its suite of solutions that are offered to its plan participants.* The AHRP has more than $2.6 billion in assets. Aon Hewitt, the plans’ provider will continue to recordkeep the plans.

Prudential Financial to Announce First Quarter 2012 Earnings; Schedules Conference Call

Wednesday March 28th 2012 03:00:00 PM

NEWARK, N.J., March 28, 2012 - Prudential Financial, Inc. (NYSE: PRU) will release its first quarter 2012 earnings on Wednesday, May 2, 2012, after the market closes. The earnings news release and the financial supplement will be posted on the company’s Investor Relations Web site at http://www.investor.prudential.com. Members of Prudential’s senior management will host a conference call on Thursday, May 3, 2012, at 11:00 a.m. ET to discuss with the investment community the company’s first quarter results.

Employers eye technology to reduce costs and improve employee benefits delivery

Tuesday March 20th 2012 10:00:00 AM

NEWARK, N.J., March 20, 2012 - More than half of U.S. employers say they are expanding the use of technology to manage costs associated with employee benefits programs, according to new research conducted by Prudential Financial, Inc. Technology to the Forefront, the fourth in a series of five research briefs that highlight the major findings from Prudential’s Sixth Annual Study of Employee Benefits: Today & Beyond, shows employers expect the importance of benefits technology to grow substantially over the next five years.

Prudential Capital Group appoints Julia B. Buthman to lead Dallas office

Monday March 19th 2012 05:30:00 AM

DALLAS, March 19, 2012 – Prudential Capital Group appointed Julia B. Buthman to head its Dallas corporate finance office, the company announced. Prudential Capital Group, a source of private capital for middle-market, public and private companies, is an investment business of Prudential Financial, Inc. (NYSE:PRU).

Prudential Financial, Inc. announces date change for 2012 New York Investor Day

Friday March 16th 2012 01:00:00 PM

NEWARK, N.J., March 16, 2012 - Prudential Financial, Inc.’s (NYSE:PRU) previously announced May 2012 conference for analysts and investors in New York City will be held on Tuesday, May 22, 2012, commencing at 1:00 pm. At this conference, Chairman and CEO John Strangfeld, together with other members of the senior management team, will discuss the company’s businesses and strategies. Further details will be available closer to the date of the conference.

Prudential Group Insurance names Jim Pogue to head Group Life Products

Thursday March 15th 2012 12:00:00 PM

NEWARK, N.J., March 15, 2012 - Prudential Group Insurance, a business of Prudential Financial, Inc. (NYSE: PRU) has named Jim Pogue vice president, Group Life Products. In this role Pogue is responsible for managing the P&L for a suite of Prudential’s group life insurance products, including Life, AD&D, Group Universal Life, Group Variable Universal Life, International Group Benefits, and Post Retirement Liability and Funding Solutions. He will set strategic direction, establish business goals and service strategy, and identify growth opportunities.

Prudential Investments launches Global Opportunities Fund

Thursday March 15th 2012 11:30:00 AM

NEWARK, N.J., March 15, 2012 - Prudential Investments today announced the launch of the Prudential Jennison Global Opportunities Fund (A: PRJAX), a mutual fund that offers investors the potential for long-term growth by investing in companies from a broad range of countries, including emerging markets. Prudential Investments is the mutual fund family of Prudential Financial, Inc. (NYSE: PRU).

Prudential Foundation awards $5.65 million in new grants; approves $3 million Newark social investment

Tuesday March 13th 2012 11:00:00 AM

NEWARK, N.J., March 13, 2012 - The board of trustees of The Prudential Foundation approved $5.65 million in grants to support improved educational opportunities for our nation’s children, the fight against hunger and poverty and to expose youth to global cultural experiences, it was announced today.

Prudential funds honored by Lipper for performance

Monday March 12th 2012 11:30:00 AM

NEWARK, N.J., March 12, 2012 - Four Prudential Investments mutual funds won awards based on five and 10-year risk-adjusted performance at Lipper’s recent annual mutual fund awards ceremony in New York City. The awards honor mutual funds that have excelled in delivering consistent risk-adjusted performance relative to peers. Prudential Investments is the mutual fund family of Prudential Financial Inc. (NYSE: PRU) and offers funds across a range of asset classes and sectors, including equity, fixed income, real estate and specialty securities.

Prudential Financial, Inc. renews shelf registration statement

Friday March 9th 2012 05:00:00 PM

NEWARK, N.J., March 09, 2012 - Prudential Financial, Inc. (NYSE: PRU) announced today that it has filed a universal shelf registration statement with the Securities and Exchange Commission as a routine renewal of its existing shelf registration statement which was to expire on March 11, 2012 after a 3-year term. The shelf registration statement automatically became effective as of its filing and, consistent with the prior registration statement, may be utilized to offer debt securities, preferred and common stock and other securities in order to provide the Company with flexibility to respond to future financing opportunities.

Prudential Retirement calls for establishment of multiple small employer plans

Wednesday March 7th 2012 03:00:00 PM

NEWARK, N.J., March 07, 2012 - Prudential Retirement’s Jamie Kalamarides, senior vice president of Institutional Investment Products, testified today during a U.S. Senate Special Committee on Aging hearing on the shortage of retirement savings plans among small businesses.

Prudential to focus on group long term care insurance, will discontinue sale of individual long term care products

Wednesday March 7th 2012 02:00:00 PM

NEWARK, N.J., March 07, 2012 - Prudential Group Insurance, a business of Prudential Financial, Inc. (NYSE: PRU), today announced that it will focus solely on group long term care insurance and discontinue the sale of individual long term care products.

Prudential expresses condolences on death of U.S. Representative Donald Payne

Tuesday March 6th 2012 03:00:00 PM

NEWARK, N.J., March 06, 2012 - Prudential Chairman and CEO John Strangfeld today expressed condolences to the family of the late U.S. Representative Donald Payne.

Investment and insurance products offer significant opportunity to banks

Monday March 5th 2012 12:00:00 AM

NEWARK, N.J., March 05, 2012 - Customers who purchase investment and insurance products where they bank have on average $348,000 of investable assets, 84 percent more than financial assets held by other banking customers. However, only two out of every 10 affluent customers have purchased these products from their bank or credit union, according to The Value of an Investment and Insurance Customer to a Bank, a study by Kenneth and Christine Kehrer and Peter Bielan. The study was co-sponsored by Prudential Financial, Inc. (NYSE:PRU) and Western National Life.

Prudential Capital Group works with Santander to Fund Arizona Solar Project

Wednesday February 29th 2012 11:00:00 AM

NEWARK, N.J., February 29, 2012 - Prudential Capital Group provided financing in the form of $121 million of long-term senior notes to LS Power for a new solar power generating project in Maricopa County, Ariz. The financing is part of an innovative structure developed in partnership with Banco Santander S.A. that provided $466 million to support the development of the project. Prudential Capital Group is an investment business of Prudential Financial, Inc. (NYSE: PRU).

The Prudential Foundation awards $70,000 to winners of the Prudential Leadership Award Program

Wednesday February 29th 2012 11:00:00 AM

NEWARK, N.J., February 29, 2012 - The boards of four nonprofit organizations recently received the Prudential Leadership Award for Outstanding Nonprofit Boards from The Prudential Foundation and BoardSource.

Prudential and ASIS councils hold seminar to help military veterans and law enforcement officers transition to new careers

Wednesday February 29th 2012 10:00:00 AM

NEWARK, N.J., February 29, 2012 - Prudential, Inc. (NYSE: PRU) is partnering with the ASIS Military Liaison Council and the ASIS International Law Enforcement Liaison Council to offer a seminar to help law enforcement and military service men and women transition to new careers.

Prudential Group Insurance Names Joseph M. Hayes to Lead Information Systems

Tuesday February 28th 2012 09:00:00 AM

NEWARK, N.J., February 28, 2012 - Prudential Group Insurance, a business of Prudential Financial, Inc. (NYSE: PRU) has named Joseph M. Hayes vice president, Information Systems and Chief Information Officer. In this role he will be responsible for Group Insurance technology and systems, as well as collaboration on business strategies and solutions throughout the larger organization.

Inclusion Initiative Companies Surpass 2011 Goal; Spend Over $97 Million on Minority and Women Owned Law Firms

Monday February 27th 2012 12:00:00 AM

February 27, 2012 –The Inclusion Initiative is a collaborative effort of companies committed to multi-million dollar annual goals for legal spend with minority and women owned (MWBE) law firms. The 17 companies participating in the Inclusion Initiative last year set an aggregate goal of $70 million for 2011 and exceeded that goal, ultimately spending about $97.7 million with MWBE firms in 2011.

Prudential Capital Group appoints Peter Pricco to lead new Minneapolis office

Friday February 24th 2012 10:00:00 AM

CHICAGO, February 24, 2012 - Prudential Capital Group appointed Peter Pricco to head its new Minneapolis office, which is expected to open during the 2012 third quarter, the company announced. Prudential Capital Group, a source of private capital for middle-market, public and private companies, is an investment business of Prudential Financial, Inc. (NYSE:PRU).

Prudential Retirement observes America Saves Week by encouraging Americans to start saving, increase contributions steadily

Thursday February 16th 2012 12:00:00 AM

Christine Marcks, president of Prudential Retirement, is available for comment on how Prudential Retirement is marking America Saves Week, which begins on Feb. 19. Prudential Retirement is using the week to encourage Americans struggling with personal retirement income challenges to reduce debt, participate in their workplace retirement plans, save more and make smarter investment choices that will boost their accumulated savings. Prudential Retirement has been a long-time advocate of putting American families on a secure road to and through retirement.