Quantcast
The MFWire
Manage Email Alerts | Sponsorships | About MFWire | Who We Are

Subscribe to MFWire.com's News Alerts [click]

Rating:Fund Firms See Slide in Insurer Parents' Stock Not Rated 0.0 Email Routing List Email & Route  Print Print
Friday, October 03, 2008

Fund Firms See Slide in Insurer Parents' Stock

by: Erin Kello

A senator's comments on Wednesday caused stocks of insurance companies to turn sharply lower Thursday. Senator Harry Reid said Wednesday that if the House failed to pass the $700 billion bailout deal, a well-known insurer's solvency would be threatened, Reuters reports. On Thursday night Reid back-tracked on the remarks, but the damage was done.

Thursday, shares of Hartford, which runs Hartford Investment Management, fell 32 percent from $38.11 per share at the close on October 1 to $25.91 on October 2. Shares of Manulife, whose John Hancock subsidiary runs funds, fell from 6.2 percent $36.66 to $34.40. Principal fell 16.3 percent from $37.64 to $31.52. And JennisonDryden funds' parent Prudential 12.4 percent from $64.80 to $57.65.

So how are they doing today? As of a little after 2 p.m. on Friday, Hartford's stock had climbed 19.88 percent to $31.06. ManuLife was up 0.44 percent to $34.60. MetLife was up 7.54 percent to $44.05. Principal was up 0.63 percent to $31.72. And Pru was up 1.63 percent to $58.58. 

Stay ahead of the news ... Sign up for our email alerts now
CLICK HERE

0.0
 Do You Recommend This Story?



GO TO: MFWire
Return to Top
 News Archives
2019: Q4Q3Q2Q1
2018: Q4Q3Q2Q1
2017: Q4Q3Q2Q1
2016: Q4Q3Q2Q1
2015: Q4Q3Q2Q1
2014: Q4Q3Q2Q1
2013: Q4Q3Q2Q1
2012: Q4Q3Q2Q1
2011: Q4Q3Q2Q1
2010: Q4Q3Q2Q1
2009: Q4Q3Q2Q1
2008: Q4Q3Q2Q1
2007: Q4Q3Q2Q1
2006: Q4Q3Q2Q1
2005: Q4Q3Q2Q1
2004: Q4Q3Q2Q1
2003: Q4Q3Q2Q1
2002: Q4Q3Q2Q1
 Subscribe via RSS:
Raw XML
Add to My Yahoo!
follow us in feedly




©All rights reserved to InvestmentWires, Inc. 1997-2019
14 Wall Street | 20th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
Privacy Policy :: Terms of Use