Prudential Financial rises as strong PGIM performance boosts quarterly profit
PRU•Shares rise after quarterly profit beat
Prudential Financial shares gained 2.8% to $126.36 in morning trading after the insurer late Tuesday posted second-quarter after-tax adjusted operating EPS of $4.08, up from $3.58 a year ago.
Analyst views and year-to-date performance
Overall earnings benefited from strong expense management and favorable mortality as well as strong spread international margins, J.P. Morgan said.
Sixteen of 20 analysts rate the stock "hold" and four rate it "sell"; their median price target is $109, according to data compiled by LSEG.
Including Tuesday's move, the stock is up 12.1% year to date.
PGIM drives higher investment management income
PGIM, Prudential's global investment management business, reported second-quarter adjusted operating income of $294 million versus $229 million a year earlier.
