Prudential Financial Stock News

Prudential Financial, Inc. (NYSE:PRU ) Q3 2024 Earnings Conference Call October 31, 2024 11:00 AM ET Company Participants Bob McLaughlin - Vice President, Investor Relations Charlie Lowrey - Chairman and CEO Rob Falzon - Vice Chairman Yanela Frias - Chief Financial Officer Andy Sullivan - Head, International Businesses and PGIM Caroline Feeney - Head, U.S. Businesses Rob Axel - Controller and P...

Shares of insurance name Root (ROOT) are trading at roughly  three-year highs , on track for their best session on record after a surprise third-quarter earnings beat.

NEWARK, N.J.--(BUSINESS WIRE)--Prudential Financial, Inc. (NYSE: PRU) today reported third quarter results. Net income attributable to Prudential Financial, Inc. was $448 million ($1.24 per Common share) for the third quarter of 2024, compared to a net loss of $802 million ($2.23 per Common share) for the third quarter of 2023. After-tax adjusted operating income was $1.260 billion ($3.48 per C...

Prudential Financial is expected to report positive Q3 2024 performance, but growth prospects are limited and shares are not undervalued. Revenue growth driven by individual retirement sales and positive net flows in asset management, with expected revenues of $14.7 billion. Net income anticipated to be $1.2 billion, with a strong ROE of 14%, and a stable dividend yield of 4.1%.

China has approved two more insurance units to be set up by BNP Paribas and Prudential Financial in a move to further open up the local insurance market to foreign companies.

Selling the November 130-strike call option generates an income of 1.74% in just under one month, equaling around 20% annualized.

Prudential Financial offers a yield above 4% which beats key peers, and two quarters of YoY growth in insurance and annuities sales is a positive. The firm is among the top 5 in life insurance and has a diversified business model across the scope of life insurance and retirement. The valuation presents a mixed picture as the stock is undervalued to key peers on forward P/E but overvalued on EV/...

Both offer high yields in a turbulent time.