Prudential Financial Inc. reported $496 billion in assets under management as of March 31, down from $500 billion at the end of December, but up 14% from the year earlier. Prudential reported $134 million in operating income from its asset management business for the last quarter, up from $58 million for the year earlier, according to a news release.
Separately, Nationwide Financial Services Inc., Columbus, Ohio, reported first-quarter net income of $160.5 million, according to its Wednesday 8-K filing. The results compare with net income of $119.6 million in the first quarter of 2005. First-quarter sales in the firm's retirement plan segment grew 12% to $3.02 billion from about $2.69 billion in the first quarter of 2004. Sales in the retirement plan segment grew from about $2.39 billion in the fourth quarter of 2004, the filing said.