NYSE:PRUInsurance
Prudential Financial (PRU) Stock Slides As Profit Strength Meets Japan Drag
Prudential Financial stock slipped about 2.7% to US$120.16 into the close, even as the earnings story pointed in the opposite emotional direction. The headline was profitability, not price. After tax adjusted operating income reached US$1.4b, or US$4.08 per share, and year to date adjusted operating return on average equity reached 15.5%. For a large insurer that balance between earnings power and capital efficiency is what matters. Today’s selling looks more like a knee jerk reaction than a...