Prudential Financial, Inc. (NYSE:PRU) revealed on Wednesday the completion of its acquisition of an indirect ownership interest in Administradora de Fondos de Pensiones (AFP) Habitat SA, one of the top retirement services provider in Chile, from Chilean Construction Chamber’s investment subsidiary, Inversiones La Construccion SA (ILC).
Prudential purchased nearly 40% of AFP Habitat, which was a publicly traded stock on the Santiago Stock Exchange, for CLP 899.9 per share. The transaction amounted to roughly USD529 million with the present exchange rate. Through a joint company, Prudential now shares equal control in AFP Habitat’s stock with ILC.
Prudential released its full-year results for the fiscal year 2015 last month. For the full-year, the company reported an adjusted operating income of USD4.65 billion or earnings per share (EPS) of USD 10.04, well above an EPS of USD 9.21 in the previous year.
For the fourth quarter of 2015, Prudential had an adjusted operating income of USD 891 million or an EPS of USD 1.94. This shows a significant decline from last year’s EPS of USD 2.12.
According to Prudential CEO and Chairman John Strangfeld, the company was able to achieve its desired growth in all of its businesses last year. Prudential hopes to further the progress by investing in long-term opportunities.
During the previous quarter, the company recorded gross deposits and sales at USD 8.30 billion, which included three funded pension risk transfer cases worth nearly USD 2.0 million. Meanwhile, US Individual Life sales jumped 38 percent year-over-year, ending the quarter at USD 179 million.
Prudential ended the fiscal year with USD 5.64 billion or USD 12.17 per share of net income attributable to it. For the three-month period, a net income attributable to Prudential was seen at USD 735 million or USD 1.60 per share.
Prudential is set to issue its first quarter earnings report on May 4.
Prudential has a market capitalization of $31.77 billion. The stock holds a 12-month low of USD 57.19 and a 12-month high of USD 92.60. The company has an annualized dividend of USD 2.80 and a dividend yield of 4.18%. Currently, Prudential has an average target price of $83.24.