Prudential Cut At Morgan Stanley, Cash Flow Issues Cited
Thursday, Apr 23,2009, 3:37:59 PM Click:
MarketWatch
April 21, 2009 Tuesday 5:58 AM EST
LENGTH: 109 words
HEADLINE: Prudential cut at Morgan Stanley, cash flow issues cited
BYLINE: Aude Lagorce
LONDON (MarketWatch) -- Morgan Stanley cut its rating on British insurer Prudential Plc (uk:pru) to underweight from equal-weight, saying it believes the market is underestimating the risks attached to the group's cash flow and that the shares are reasonably expensive on a relative basis. The broker told clients it thinks Prudential is unlikely to be able to extract a dividend from Jackson National Life in 2009 and possibly 2010, which would mean a holding company cash outflow. Morgan Stanley prefers rival Axa (fr:cs) .
©1997-2002 MarketWatch.com, Inc. All rights reserved. See details at http://custom.marketwatch.com/custom/docs/useragreement.asp.
Terms and Conditions Privacy Policy
You may also be interested in:
Featured
Mass. Gov. Wants to Expand Power of Regulators to
Massachusetts Gov. Deval Patrick has proposed reforms that include expanding
Aetna Insurance Company health first medical coverage
Copyright: Business Wire Source: Business Wire Wordcount: CHICAGO - (BUSINESS
Summer Vacation: Travel Insurance Tips From
Today, eHealthInsurance (NASDAQ: EHTH), the leading online source of health
Toxic Drywall Might Have Insurance Repercussions
TALLAHASSEE - Floridians dealing with the mess of Chinese drywall could be
Farmers Insurance "Team Minnesota" Caravan
Copyright: Business Wire Source: Business Wire Wordcount: 529 Business Editors
CORRECTING and REPLACING NaviNet Announces NaviNet
SAN DIEGO--(BUSINESS WIRE)-- Second graph, quote should be attributed to: Ed
A.M. Best Special Report: Reinsurers Keep Their
OLDWICK, N.J.--(BUSINESS WIRE)-- U.S., Bermuda and large international
MOST POPULAR
- Most Read
- Most Discussed
- Most Emailed
- Insurance Industry Campaign Contributions Lean in Favor of Democrats
- Total Admitted Assets for Top 25 U.S. Life/Health Writers Dr
- Class Action Suit against Nationwide Insurance
- MetLife's Bank Passes Federal Government's Stress Tests
- Indexed Annuity Sales Set A Record For 2Q 2009
- Insurance Department Releases Report on Executive Compensation at State's Largest Blues' Plans
- New York Life’s Top Ratings Affirmed by All Four Major Rating Agencies
- Best Removes From Under Review, Affirms Ratings of Liberty Bankers Life Insurance Company and Subsidiary; Outlook Negative
- Bank BOLI Assets Exceed $126 Billion in 2008
- LIMRA/McKinsey Study Reveals How Life Insurers Can Optimize
-
CEO of Goldman: Wall St. Needs Overhaul Executive Pay -
Is It Safe? Conseco Stares Down 'B' Word -
Health Care Reform 'Glide Path' Would Be On A Well-Traveled Route -
White House takes Banking Crisis -
U.S. Insurance Industry Issue Alert on health care -
IRS Rules Deferred Compensation Paid to Charity is Deductibl -
Service Provides Some Relief for Losses from 'Ponzi' Schemes -
House Passes Bill Taxing premiums for AIG, Other
Discuss this news
Click Here to see all comments