Prudential Financial, Inc. has authorized the repurchase of up to $1 billion of its outstanding common stock during the period from July 1, 2014 through June 30, 2015.

The company said that, in June 2013, its board authorized the repurchase of up to $1 billion of its outstanding common stock through June 30, 2014. The company has repurchased approximately $750 million of its common stock through March 31, 2014 under that authorization.

Management will determine the timing and amount of any share repurchases under the share repurchase authorizations based on market conditions and other considerations. The repurchases may be effected in the open market, through derivative, accelerated repurchase and other negotiated transactions, and through plans designed to comply with Rule 10b5-1(c) under the Securities Exchange Act of 1934, as amended, the company said.