Prudential Financial To Repurchase Up To $1.0 Bln Common Stock - Quick Facts

Prudential Board Authorizes Repurchase Of Up To $1 Bln Of Stock

Prudential Financial Inc. (PRU) Set A New High Following Q1 Report

Prudential Financial Inc. (PRU) Has Risen To A New High On Q1 Results

Prudential Financial Q1 13 Earnings Conference Call At 11:00 AM ET

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6/12/2012 4:31 PM ET

Prudential Financial Inc. (PRU: Quote) announced that its Board has authorized the repurchase of up to $1.0 billion of its outstanding Common Stock during the period from July 1, 2012 through June 30, 2013.

In June 2011, the Board authorized the repurchase of up to $1.5 billion of its outstanding Common Stock through June 30, 2012. The company said it has repurchased approximately $1.25 billion of its Common Stock through March 31, 2012 under that authorization.

In a separate press release, A.M. Best Co. said it has affirmed the financial strength rating (FSR) of A+ (Superior) and issuer credit ratings (ICR) of "aa-" of the domestic life/health insurance companies of Prudential Financial, Inc. Concurrently, A.M. Best has affirmed the ICR of "a-" of Prudential Financial and all existing debt ratings of the group. The outlook for all ratings is stable.

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by RTT Staff Writer

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