MetLife, Prudential Earnings to Move Insurance ETFs
May 4th 2011 at 3:27pm by John Spence
Exchange traded funds (ETFs) tracking the insurance sector will likely see increased interest Thursday following quarterly earnings from MetLife (NYSE: MET) and Prudential Financial (NYSE: PRU).
Both companies are expected to report after Wednesday’s closing bell. MetLife and Prudential are the top two holdings in iShares Dow Jones U.S. Insurance Index Fund (NYSEArca: IAK) at nearly 20% of the portfolio combined.
A smaller component in the insurance ETF, Genworth (NYSE: GNW), was down nearly 1% Wednesday after the company reported quarterly profit that missed consensus.
The insurance ETF was up about 6% this year through Tuesday’s close.
iShares Dow Jones U.S. Insurance Index Fund
The opinions and forecasts expressed herein are solely those of John Spence, and may not actually come to pass. Information on this site should not be used or construed as an offer to sell, a solicitation of an offer to buy, or a recommendation for any product.