Shares of the financial service and life insurance company Prudential Financial (NYSE: PRU) rose 31.3% in the first half of the year, according to data provided by S&P Global market Intelligence .
Prudential Financial saw improvements to its profitability after impacts from the pandemic hurt it last year. The company has undergone initiatives to transform its business mix while also saving $750 million in costs by 2023, with $400 million of that coming this year.
Last year, Prudential was hit hard by the pandemic and posted a net loss of $146 million as a result. This came after a $4.1 billion profit in 2019.
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Here's Why Prudential Financial Stock Was Up 31.3% in the First Half of 2021