Quantcast
The MFWire
Manage Email Alerts | Sponsorships | About MFWire | Who We Are

Subscribe to MFWire.com's News Alerts [click]

Rating:An Insurer's Giant AM's AUM Rises 9.4 Percent Not Rated 0.0 Email Routing List Email & Route  Print Print
Friday, November 8, 2019

An Insurer's Giant AM's AUM Rises 9.4 Percent

Reported by InvestmentWires Staff, 

A publicly traded insurer's giant asset management arm grew by more than nine percent over the 12 months ending on September 30.

David A. Hunt
PGIM
President, CEO
Rob Falzon, vice chairman of PGIM parent Prudential Financial, states on the Newark, New Jersey-based insurance company's Q3 2019 earnings call (as transcribed by Seeking Alpha) that, " ... our strategy in PGIM, our asset management business, is to combine our multimanager model with global distribution and affiliated flows to grow in higher value-added strategies that serves investors globally. PGIM is a top 10 global asset manager ... It ranks as the fifth largest investor in fixed income and the third largest investor in alternative investments with significant real estate and private investment platforms. As the investment engine of Prudential, it benefits from a symbiotic relationship with our U.S. Financial Wellness and International Insurance businesses."

He also mentions, "...the things that we've done in PGIM and its investment capabilities and its distribution capabilities and the other global technology and distribution initiatives that we have, all of which we think will contribute to the fundamental growth."

In Pru's earnings presentation, the team notes noted that PGIM's AUM stood at $1.28 trillion as of September 30, 2019. According to their earnings release and financial statement , PGIM saw assets under management at $1.26 trillion at the end of Q2 2019, and $1.17 trillion at the end of Q3 2018. This represents growth of 1.5 percent and 9.4 percent, respectively.

Total revenues for PGIM for Q3 are at $855 million, which is a decrease of 7.7 percent from $926 million in Q2 2019, and an increase of 4.7 percent from $817 million in Q3 2018. Total net flows for Q3 2019 are out flows of $1 billion, a 52 percent change from outflows of $2.1 billion in Q2 2019, and a -110 percent change from inflows of $9.6 billion in Q3 2018.

Total benefits and expenses are $623 million for Q3 2019, down 5.9 percent from $662 million in Q2 2019, and up 6.1 percent from $587 million in Q3 2018. Earnings before taxes for Q3 2019 were $232 million, down 12 percent from Q2 2019 at $264 million, and up 0.8 percent from Q3 2018 at $230 million.

Overall, Prudential Financial beats analysts' EPS expectations by $0.15 with a Q3 GAAP EPS of $3.32 and by $0.49 with a Q3 GAAP EPS of $3.44. 

Stay ahead of the news ... Sign up for our email alerts now
CLICK HERE

0.0
 Do You Recommend This Story?



GO TO: MFWire
Return to Top
 News Archives
2025: Q3Q2Q1
2024: Q4Q3Q2Q1
2023: Q4Q3Q2Q1
2022: Q4Q3Q2Q1
2021: Q4Q3Q2Q1
2020: Q4Q3Q2Q1
2019: Q4Q3Q2Q1
2018: Q4Q3Q2Q1
2017: Q4Q3Q2Q1
2016: Q4Q3Q2Q1
2015: Q4Q3Q2Q1
2014: Q4Q3Q2Q1
2013: Q4Q3Q2Q1
2012: Q4Q3Q2Q1
2011: Q4Q3Q2Q1
2010: Q4Q3Q2Q1
2009: Q4Q3Q2Q1
2008: Q4Q3Q2Q1
2007: Q4Q3Q2Q1
2006: Q4Q3Q2Q1
2005: Q4Q3Q2Q1
2004: Q4Q3Q2Q1
2003: Q4Q3Q2Q1
2002: Q4Q3Q2Q1
 Subscribe via RSS:
Raw XML
Add to My Yahoo!
follow us in feedly


    Sorry, no records in the database matched your search parameters. Clich back and try again.



  1. Nicsa webinar - New research by Alex Edmans and the Diversity Project - The Power of diverse thinking: How the best teams make decisions, July 1
  2. MFDF Director Discussion Series - Open Forum, July 9
  3. MFDF webinar - Mid-Year Tax Update for Registered Investment Companies, July 10
  4. MFDF Director Discussion Series - Open Forum (Philadelphia), July 15
  5. 2025 MMI Women in Advisory Solutions Forum, Jul 15-16
  6. Nicsa webinar - How Trusted GenAI is Transforming Data Access in Asset Management, July 16
  7. MFDF webinar - M&A and Consolidation in Asset Management, July 16
  8. MFDF webinar - ETF Conversions, July 17
  9. MFDF Director Discussion Series - Open Forum (New York), July 22
  10. MFDF Ask Anything webinar - AI Edition, July 24
  11. MFDF webinar - Use of Derivatives by RICs, July 29
  12. MFDF Director Discussion Series - Open Forum (Columbus, Ohio), August 20
  13. Samfund Soiree Boston 2025, August 21
  14. MFDF webinar - The Audit Committee Chair's Guide to Balancing Duties and Emerging Issues, September 3
  15. ICI ETF Conference, Sep 8-10
  16. Nicsa webinar - Reimagining Reconciliation: AI, Regulation, and Capital Markets Transformation, September 10
  17. MFDF webinar - Series Trust Funds - Compliance and Board Reporting, September 10
  18. MFDF In Focus - Board Oversight of DEI in Current Landscape, September 11
  19. MFDF webinar - MFDF 15(c) White Paper Webinar Series: Part 4 – Enforcement Action Takeaways, September 16
  20. MFDF webinar - Latest in Closed-End Funds Litigations, September 23
  21. MFDF webinar - Fixed Income Insights: Navigating Market Trends & Opportunities, September 24
  22. MFDF webinar - Risk Management Essentials for RICs and Boards, September 29
  23. MFDF webinar - Diligent - Tools for Fund Board Book, October 1
  24. 10th annual Fuse Forum, October 8
  25. MFDF webinar - Essential Strategies in Board Oversight of Operational Risk Management, October 14
  26. 2025 MMI Annual Conference, Oct 15-17




©All rights reserved to InvestmentWires, Inc. 1997-2025
14 Wall Street | 20th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
Privacy Policy :: Terms of Use