Prudential Financial ( (PRU) ) has released its Q4 earnings. Here is a breakdown of the information Prudential Financial presented to its investors.
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Prudential Financial, Inc., a leading global financial services company, specializes in investment management, insurance, and retirement services with operations spanning the United States, Asia, Europe, and Latin America. The company recently reported its 2024 financial results, highlighting a net income of $2.727 billion, marking an increase from $2.488 billion in 2023. The after-tax adjusted operating income also rose to $4.588 billion from $4.380 billion the previous year.
Key financial metrics for Prudential Financial in 2024 included a modest increase in book value per share and assets under management, which grew to $1.512 trillion, up from $1.450 trillion in the previous year. Despite a net loss in the fourth quarter, primarily due to realized investment losses, the company saw improved adjusted operating income in its PGIM investment management business, with a rise in assets under management driven by strong net inflows and market performance.
The U.S. business segment experienced a slight decline in operating income due to increased expenses and lower fee income, while International Businesses saw a minor drop due to less favorable underwriting results and currency exchange impacts. Prudential returned significant capital to shareholders through dividends and share repurchases, with a 4% increase in quarterly dividends announced for 2025.
Looking ahead, Prudential’s management remains optimistic, focusing on growth and efficiency. The company aims to continue expanding its diversified product mix and distribution channels globally, leveraging its strength in retirement and insurance markets to pursue long-term sustainable growth.
