Home Financial Momentum Stock: Prudential Financial Inc (NYSE:PRU)

Momentum Stock: Prudential Financial Inc (NYSE:PRU)


Shares of Prudential Financial Inc (NYSE:PRU) ended Friday session in red amid volatile trading. The shares closed down -0.74 points or -0.72% at $101.73 with 1.95 million shares getting traded. Post opening the session at $102.28, the shares hit an intraday low of $100.74 and an intraday high of $102.44 and the price vacillated in this range throughout the day. The company has a market cap of $44.56 billion and the numbers of outstanding shares have been calculated to be 431.70 million shares.

Prudential Financial Inc (PRU) declared recently that it will consolidate its brands under a single name—PGIM Fixed Income, effective Jan. 1, 2017. The company already operates as PGIM Fixed Income in markets outside of the United States and Japan.

Prudential Fixed Income is a global asset manager offering active solutions across all fixed income markets. The company manages assets for institutional clients and retail shareholders worldwide with $681 billion in assets under administration as of Sept. 30, 2016.

“As we continue to expand globally, a single name offers better clarity and consistency across all regions in which we operate,” said Michael Lillard, head of Prudential Fixed Income and chief investment officer.

As a premier active global fixed income asset manager, Prudential Fixed Income has offices in the U.S., London, Tokyo, and Singapore covering the global fixed income markets. The company is a part of PGIM, the global investment administration businesses of Prudential Financial, Inc. (PRU).