Prudential Financial, Inc. (PRU) reported fourth-quarter 2023 adjusted operating income of $2.58 per share, which missed the Zacks Consensus Estimate by 3.3%. However, the bottom line rose 3.6% year over year.Total revenues of $13 billion increased 6.7% year over year. The increase in revenues was due to higher premiums and net investment income. However, it missed the Zacks Consensus Estimate by 0.3%.Prudential's fourth-quarter results reflect improved expenses, less favorable underwriting results, net out ...

Momentum investing is essentially an exception to the idea of "buying low and selling high." Investors following this style of investing are usually not interested in betting on cheap stocks and waiting long for them to recover. Instead, they believe that "buying high and selling higher" is the way to make far more money in lesser time.Everyone likes betting on fast-moving trending stocks, but it isn't easy to determine the right entry point. These stocks often lose momentum when their future growth potenti ...

Core Insights - Prudential Financial, Inc. has completed a pension risk transfer transaction with Shell USA, Inc. for $4.9 billion, covering approximately 21,500 U.S. retirees [1] - The transaction will make Prudential responsible for pension benefit payments starting May 15, 2024 [1] - Prudential has now executed seven of the ten largest U.S. pension risk transfers, showcasing its expertise in structuring custom transactions [1] Company Overview - Prudential Financial, Inc. is a global financial services leader with around $1.4 trillion in assets under management as of December 31, 2023 [3] - The company has a long history of innovation in the pension risk transfer market, having pioneered significant transactions since 2012 [2] - Prudential's Retirement Strategies team provides solutions for over 2 million individual and institutional customers, focusing on retirement security [4]

NEWARK, N.J.--(BUSINESS WIRE)--Prudential Financial, Inc. (NYSE: PRU) announced today that Mike Estep, head of product for Group Insurance, will succeed Yanela Frias as president of its Group Insurance business following Frias’ appointment as Prudential’s CFO. The change is effective March 15, 2024. Estep will report to Caroline Feeney, head of Prudential’s U.S. Businesses. “Mike’s leadership has been instrumental in developing a long-term vision for our product strategy and driving business growth.” sai ...

Prudential (PRU) reported $13.02 billion in revenue for the quarter ended December 2023, representing a year-over-year increase of 2.9%. EPS of $2.58 for the same period compares to $2.42 a year ago.The reported revenue compares to the Zacks Consensus Estimate of $13.07 billion, representing a surprise of -0.35%. The company delivered an EPS surprise of -3.37%, with the consensus EPS estimate being $2.67.While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and ...

Core Viewpoint - Prudential's quarterly earnings of $2.58 per share missed the Zacks Consensus Estimate of $2.67 per share, representing an earnings surprise of -3.37% [1] - The company reported revenues of $13.02 billion, slightly below the consensus estimate, but up from $12.65 billion a year ago [1] Financial Performance - Earnings per share (EPS) for the quarter was $2.58, compared to $2.42 a year ago [1] - The company has surpassed consensus EPS estimates only once in the last four quarters [1] - Revenues for the quarter were $13.02 billion, missing the Zacks Consensus Estimate by 0.35% [1] - Prudential's shares have declined approximately 0.9% year-to-date, while the S&P 500 has gained 3.6% [2] Future Outlook - The earnings outlook for Prudential is currently favorable, with a Zacks Rank of 2 (Buy), indicating expected outperformance in the near future [4] - The current consensus EPS estimate for the upcoming quarter is $3.29, with projected revenues of $13.76 billion [4] - For the current fiscal year, the consensus EPS estimate is $13.32 on revenues of $54.13 billion [4] Industry Context - The Insurance - Multi line industry is ranked in the top 42% of over 250 Zacks industries, suggesting a favorable environment for Prudential [5] - American International Group (AIG), a competitor in the same industry, is expected to report quarterly earnings of $1.59 per share, reflecting a year-over-year increase of 16.9% [5][6]

PGIM RetireWell Confidence Index: Using the Prudential financial wellness assessment, the current question used to estimate financial confidence asks respondents, “Overall, how are you feeling about your finances?” while the retirement confidence question asks, “Do you think you’ll have enough savings for the retirement you want?” The PGIM RetireWell Confidence Index is the average of the financial confidence score and the retirement confidence score. (Graphic: Business Wire)PGIM RetireWell Confidence Index ...

Wall Street analysts forecast that Prudential (PRU) will report quarterly earnings of $2.67 per share in its upcoming release, pointing to a year-over-year increase of 10.3%. It is anticipated that revenues will amount to $13.07 billion, exhibiting an increase of 3.3% compared to the year-ago quarter.Over the past 30 days, the consensus EPS estimate for the quarter has been adjusted downward by 4.3% to its current level. This demonstrates the covering analysts' collective reassessment of their initial proje ...

Core Viewpoint - Prudential Financial, Inc. (PRU) is expected to report fourth-quarter 2023 earnings on February 6, with a projected earnings per share of $2.75, reflecting a positive outlook compared to the Zacks Consensus Estimate of $2.67, which indicates a 10.3% increase from the previous year [1][5][4]. Factors to Consider - The U.S. business is anticipated to benefit from higher spread income, including favorable variable investment income and lower expenses, although this may be partially offset by lower fee income [2]. - International businesses are likely to see improved results from higher net investment spreads and underwriting results, with some offset from increased expenses [2]. - The Group Insurance segment is expected to show higher underwriting results, countered by rising expenses [2]. PGIM Performance - PGIM is projected to experience a decrease in net asset management fees and higher operating expenses, though this may be mitigated by increased net other related revenues [3]. - Assets under management are expected to benefit from equity market appreciation and lower interest rates, despite facing net outflows [3]. - Net investment income is forecasted to rise by 16.8% to $4.1 billion, driven by higher income from non-coupon investments [3]. Expense Outlook - Total expenses are expected to rise by 4.3% to $11.4 billion, influenced by higher general and administrative costs and amortization of deferred policy acquisition costs [4]. Earnings Estimates - The Zacks Consensus Estimate for revenues is projected at $13.07 billion, indicating a 3.3% increase from the previous year [5]. - The company has an Earnings ESP of -1.60%, suggesting a lower likelihood of an earnings beat this quarter [6]. Comparison with Other Stocks - Other insurance stocks with favorable earnings prospects include Everest Group, Arch Capital Group, and Primerica, each showing positive Earnings ESP and varying Zacks Ranks [7][8].

Prudential (PRU) is expected to deliver a year-over-year increase in earnings on higher revenues when it reports results for the quarter ended December 2023. This widely-known consensus outlook gives a good sense of the company's earnings picture, but how the actual results compare to these estimates is a powerful factor that could impact its near-term stock price.The stock might move higher if these key numbers top expectations in the upcoming earnings report, which is expected to be released on February 6 ...