Horizon Advisory Services Inc. Acquires Shares of 3,418 Prudential Financial, Inc. (NYSE:PRU)

Horizon Advisory Services Inc. acquired a new stake in Prudential Financial, Inc. (NYSE:PRU) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 3,418 shares of the financial services provider’s stock, valued at approximately $405,000. Prudential Financial makes up approximately 0.2% of Horizon Advisory Services Inc.’s portfolio, making the stock its 12th biggest position.

Other large investors also recently bought and sold shares of the company. Grove Bank & Trust grew its position in shares of Prudential Financial by 65.9% during the fourth quarter. Grove Bank & Trust now owns 219 shares of the financial services provider’s stock worth $26,000 after buying an additional 87 shares in the last quarter. Centricity Wealth Management LLC acquired a new stake in shares of Prudential Financial during the fourth quarter worth approximately $29,000. Ashton Thomas Securities LLC acquired a new stake in shares of Prudential Financial during the third quarter worth approximately $31,000. CGC Financial Services LLC grew its position in shares of Prudential Financial by 82.1% during the fourth quarter. CGC Financial Services LLC now owns 275 shares of the financial services provider’s stock worth $33,000 after buying an additional 124 shares in the last quarter. Finally, Wingate Wealth Advisors Inc. acquired a new stake in shares of Prudential Financial during the fourth quarter worth approximately $33,000. Institutional investors and hedge funds own 56.83% of the company’s stock.

Prudential Financial Stock Performance

PRU stock opened at $110.54 on Tuesday. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.16 and a current ratio of 0.16. The stock has a market capitalization of $39.57 billion, a price-to-earnings ratio of 14.80, a PEG ratio of 0.98 and a beta of 1.31. Prudential Financial, Inc. has a 1 year low of $104.44 and a 1 year high of $130.55. The stock’s fifty day moving average is $116.67 and its two-hundred day moving average is $119.81.

Prudential Financial (NYSE:PRU) last posted its earnings results on Tuesday, February 4th. The financial services provider reported $2.96 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.36 by ($0.40). Prudential Financial had a net margin of 4.01% and a return on equity of 15.86%. On average, research analysts predict that Prudential Financial, Inc. will post 14.36 EPS for the current year.

Prudential Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 13th. Investors of record on Tuesday, February 18th will be paid a dividend of $1.35 per share. This is a boost from Prudential Financial’s previous quarterly dividend of $1.30. This represents a $5.40 dividend on an annualized basis and a dividend yield of 4.89%. The ex-dividend date is Tuesday, February 18th. Prudential Financial’s payout ratio is currently 72.29%.

Analysts Set New Price Targets

PRU has been the subject of a number of recent analyst reports. Jefferies Financial Group raised their price target on shares of Prudential Financial from $149.00 to $152.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th. Wells Fargo & Company raised their price target on shares of Prudential Financial from $113.00 to $118.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 19th. Keefe, Bruyette & Woods reduced their price objective on Prudential Financial from $129.00 to $125.00 and set a “market perform” rating on the stock in a research note on Wednesday, February 12th. Evercore ISI upgraded Prudential Financial from an “underperform” rating to an “inline” rating and raised their price objective for the stock from $117.00 to $140.00 in a research note on Thursday, November 14th. Finally, Piper Sandler reduced their price objective on Prudential Financial from $127.00 to $124.00 and set a “neutral” rating on the stock in a research note on Thursday, January 16th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $125.69.

Prudential Financial Company Profile

Prudential Financial, Inc, together with its subsidiaries, provides insurance, investment management, and other financial products and services in the United States and internationally. It operates through PGIM, Retirement Strategies, Group Insurance, Individual Life, and International Businesses segments.