Prudential Financial Inc

Latest Results (14.08.2024):

Net Income

Prudential Financial Inc. reported a net income of $1.198 billion, or $3.28 per Common share, for the second quarter of 2024. This is a significant increase compared to the net income of $511 million, or $1.38 per share, for the same quarter in 2023. The current quarter's results included a net after-tax benefit from the annual assumption update and other refinements amounting to $679 million, or $1.86 per Common share.

Adjusted Operating Income

For the second quarter of 2024, Prudential Financial Inc. recorded an after-tax adjusted operating income of $1.234 billion, or $3.39 per Common share. This is an improvement from the $1.142 billion, or $3.09 per share, reported in the same quarter of the previous year. The current quarter's results included a net after-tax benefit from the annual assumption update and other refinements of $5 million, or $0.01 per Common share.

Book Value

Prudential Financial Inc.'s book value per Common share was $77.51 for the second quarter of 2024, slightly down from $77.65 per share in the year-ago quarter. However, the adjusted book value per Common share increased to $98.42 from $97.38 per share in the same period last year.

Assets Under Management

As of the second quarter of 2024, Prudential Financial Inc. reported assets under management of $1.482 trillion, up from $1.415 trillion in the year-ago quarter. This growth was driven by robust sales in both U.S. and International Businesses, as well as strong investment performance and capital deployment in private alternatives within PGIM.

Capital Returned to Shareholders

During the second quarter of 2024, Prudential Financial Inc. returned $725 million to shareholders, which included $250 million in share repurchases and $475 million in dividends. This compares to $713 million returned in the same quarter of the previous year. Dividends paid in the second quarter were $1.30 per Common share, representing a 5% yield on adjusted book value.