Voya Investment Management LLC Decreases Stock Position in Prudential Financial, Inc. $PRU

Voya Investment Management LLC decreased its position in Prudential Financial, Inc. (NYSE:PRU) by 23.6% in the 3rd quarter, Holdings Channel reports. The fund owned 75,062 shares of the financial services provider’s stock after selling 23,197 shares during the period. Voya Investment Management LLC’s holdings in Prudential Financial were worth $7,787,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the company. AlphaQuest LLC grew its holdings in Prudential Financial by 12,250.0% during the 1st quarter. AlphaQuest LLC now owns 247 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 245 shares in the last quarter. Darwin Wealth Management LLC purchased a new position in Prudential Financial in the 2nd quarter valued at about $36,000. AlphaCore Capital LLC acquired a new stake in shares of Prudential Financial during the second quarter valued at about $39,000. Capital A Wealth Management LLC increased its position in shares of Prudential Financial by 4,600.0% during the second quarter. Capital A Wealth Management LLC now owns 376 shares of the financial services provider’s stock worth $39,000 after acquiring an additional 368 shares during the last quarter. Finally, Elevation Point Wealth Partners LLC purchased a new position in Prudential Financial in the second quarter valued at about $51,000. 56.83% of the stock is owned by institutional investors and hedge funds.

Prudential Financial Stock Performance

Prudential Financial stock opened at $114.18 on Wednesday. The company has a market cap of $39.96 billion, a PE ratio of 15.68, a P/E/G ratio of 0.94 and a beta of 0.97. Prudential Financial, Inc. has a 12 month low of $90.38 and a 12 month high of $123.88. The company has a fifty day moving average price of $107.53 and a two-hundred day moving average price of $105.95. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.16 and a quick ratio of 0.16.

Prudential Financial (NYSE:PRU) last posted its quarterly earnings results on Wednesday, January 15th. The financial services provider reported $3.58 earnings per share (EPS) for the quarter. Prudential Financial had a net margin of 4.65% and a return on equity of 16.60%. The company had revenue of $8.35 billion for the quarter. Research analysts expect that Prudential Financial, Inc. will post 14.36 earnings per share for the current year.

Prudential Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, December 11th. Shareholders of record on Tuesday, November 18th were paid a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a yield of 4.7%. The ex-dividend date was Tuesday, November 18th. Prudential Financial’s payout ratio is presently 74.18%.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on PRU. Wolfe Research initiated coverage on Prudential Financial in a report on Tuesday, September 16th. They set a “peer perform” rating on the stock. Piper Sandler raised their price target on shares of Prudential Financial from $110.00 to $120.00 and gave the stock a “neutral” rating in a research report on Tuesday. Keefe, Bruyette & Woods upped their price target on shares of Prudential Financial from $117.00 to $118.00 and gave the company a “market perform” rating in a report on Monday, November 3rd. Morgan Stanley increased their price objective on shares of Prudential Financial from $117.00 to $118.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 7th. Finally, Mizuho started coverage on shares of Prudential Financial in a research report on Tuesday, December 16th. They issued a “neutral” rating and a $125.00 target price for the company. Eleven research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Reduce” and a consensus price target of $118.00.

Insider Activity

In related news, Chairman Charles F. Lowrey sold 48,164 shares of the company’s stock in a transaction on Monday, November 10th. The stock was sold at an average price of $107.39, for a total transaction of $5,172,331.96. Following the completion of the transaction, the chairman directly owned 165,564 shares in the company, valued at $17,779,917.96. This represents a 22.54% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Caroline Feeney sold 6,555 shares of the firm’s stock in a transaction on Thursday, December 11th. The shares were sold at an average price of $116.28, for a total value of $762,215.40. Following the completion of the sale, the executive vice president owned 22,523 shares in the company, valued at $2,618,974.44. The trade was a 22.54% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 62,719 shares of company stock valued at $6,796,067. 0.25% of the stock is currently owned by insiders.

Prudential Financial Company Profile

Prudential Financial, Inc, headquartered in Newark, New Jersey, is a diversified financial services company with roots dating to 1875. The firm provides a range of insurance, retirement and investment products aimed at helping individual and institutional clients manage risk, accumulate and protect wealth, and plan for retirement. Prudential’s long history in life insurance and related financial services has positioned it as a major participant in the U.S. insurance market and a provider of services to a broad client base.

Prudential’s core business activities include individual life insurance, annuities, retirement solutions and group insurance products for employers.