Prudential PLC Continuing To Build A More Profitable Business

Like their American cousins, European insurance companies have started to get a little more love lately as investors have gone bargain-shopping in the value bin. Although Prudential PLC (PUK) has chopped its way a little higher over the last month, I still don't believe the shares reflect the value that management is creating. With a fast-growing Asian business and efforts well underway to increase the cash flow of the U.S. business, I believe Prudential PLC is well placed for above-average growth and undervalued today.

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Prudential PLC Continuing To Build A More Profitable Business

Prudential PLC Marrying Strong Growth With Disciplined Capital Return

All things considered, I think the changes in the insurance markets are starting to favor P&C insurers again over life insurers, but that doesn't mean that there still aren't opportunities in the life space. Names like ageas (OTCPK:AGESY) and AXA (OTCQX:AXAHY) have done pretty well, and there is ongoing opportunity in names like Aviva (OTCPK:AVVIY). I'm also adding Prudential PLC (PUK) to this list, as I believe this company's high-growth Asian operations, better-than-assumed U.S. operation, and improvable U.K. operations all contribute to a value that is about 10% above today's price. I'd also note that Prudential PLC has prioritized returning capital to shareholders, with a 5% annual growth target and over 10% actual growth over the past decade-plus.

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Prudential PLC Marrying Strong Growth With Disciplined Capital Return