Life insurance company Prudential Financial, Inc. (PFK, Financial)'s shares rebounded strongly as the environment for risk assets improved. With robust equity market returns during the quarter, the perception of risk in Prudential's variable annuity business declined and the company's fee earning assets increased. In addition, Prudential reported strong second quarter earnings including a meaningful improvement in its Group Insurance segment which was a drag on first quarter results.
From Diamond Hill Capital's third quarter Select Fund Commentary.
From Diamond Hill Capital's third quarter Select Fund Commentary.
