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 ...

NEWARK, N.J.--(BUSINESS WIRE)--Historically Black colleges and universities (HBCUs) are a critical learning path for Black students seeking quality higher education in the United States. Yet, these institutions face systemic challenges in accumulating substantial endowments, a crucial factor for ensuring institutional stability and growth. A new study launched by UNCF (United Negro College Fund) and PGIM, the global asset management business of Prudential Financial, Inc. (NYSE: PRU), explores these challeng ...

NEWARK, N.J.--(BUSINESS WIRE)--Prudential Financial, Inc. (NYSE: PRU) is collaborating with Fidelity Investments™ to address growing demand among consumers for a workplace retirement plan option that will convert participants’ retirement savings into a protected stream of income. Prudential recently launched Prudential SimplyIncomeSM — a new single-premium immediate annuity, or SPIA — within employer-based retirement plans administered by Fidelity Investments. Prudential is one of four insurers on Fideli ...

While the proven Zacks Rank places an emphasis on earnings estimates and estimate revisions to find strong stocks, we also know that investors tend to develop their own individual strategies. With this in mind, we are always looking at value, growth, and momentum trends to discover great companies.Of these, value investing is easily one of the most popular ways to find great stocks in any market environment. Value investors use fundamental analysis and traditional valuation metrics to find stocks that they ...

NEWARK, N.J.--(BUSINESS WIRE)--Rutgers basketball has a new partner on the bench this season: Prudential Financial, Inc. (NYSE: PRU). The global financial services company has signed on as the men’s and women’s basketball program’s presenting sponsor and will also provide access to financial education and funded investment accounts for domestic Rutgers student-athletes in a variety of sports. “Thanks to the power of compound interest, investing money in your 20s can provide millions by retirement age, pa ...