Horizon Advisory Services Inc. Acquires New Holdings in Prudential Financial, Inc. (NYSE:PRU)

Horizon Advisory Services Inc. acquired a new stake in shares of Prudential Financial, Inc. (NYSE:PRU) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 3,418 shares of the financial services provider’s stock, valued at approximately $405,000. Prudential Financial makes up 0.2% of Horizon Advisory Services Inc.’s investment portfolio, making the stock its 12th biggest position.

Other hedge funds and other institutional investors have also modified their holdings of the company. Bank of New York Mellon Corp grew its holdings in Prudential Financial by 0.3% during the fourth quarter. Bank of New York Mellon Corp now owns 2,454,278 shares of the financial services provider’s stock worth $290,906,000 after acquiring an additional 6,938 shares during the period. CWS Financial Advisors LLC grew its holdings in Prudential Financial by 35.4% during the fourth quarter. CWS Financial Advisors LLC now owns 2,481 shares of the financial services provider’s stock worth $294,000 after acquiring an additional 649 shares during the period. Addison Advisors LLC grew its holdings in Prudential Financial by 839.2% during the fourth quarter. Addison Advisors LLC now owns 958 shares of the financial services provider’s stock worth $114,000 after acquiring an additional 856 shares during the period. BankPlus Trust Department acquired a new position in Prudential Financial during the fourth quarter worth about $879,000. Finally, Quartz Partners LLC grew its holdings in Prudential Financial by 4.5% during the fourth quarter. Quartz Partners LLC now owns 5,518 shares of the financial services provider’s stock worth $654,000 after acquiring an additional 240 shares during the period. 56.83% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts recently issued reports on PRU shares. Keefe, Bruyette & Woods lowered their target price on Prudential Financial from $129.00 to $125.00 and set a “market perform” rating on the stock in a report on Wednesday, February 12th. Jefferies Financial Group lifted their price target on Prudential Financial from $149.00 to $152.00 and gave the stock a “buy” rating in a research note on Tuesday, December 10th. Evercore ISI raised Prudential Financial from an “underperform” rating to an “inline” rating and lifted their price target for the stock from $117.00 to $140.00 in a research note on Thursday, November 14th. Barclays lifted their price target on Prudential Financial from $128.00 to $134.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 5th. Finally, TD Cowen lifted their price target on Prudential Financial from $130.00 to $133.00 and gave the stock a “hold” rating in a research note on Wednesday, November 27th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, one has given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $125.69.

Prudential Financial Trading Up 0.9 %

NYSE:PRU opened at $110.54 on Tuesday. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.16 and a quick ratio of 0.16. Prudential Financial, Inc. has a fifty-two week low of $104.44 and a fifty-two week high of $130.55. The stock’s 50-day moving average is $116.67 and its two-hundred day moving average is $119.81. The stock has a market cap of $39.57 billion, a PE ratio of 14.80, a price-to-earnings-growth ratio of 0.98 and a beta of 1.31.

Prudential Financial (NYSE:PRU) last released its earnings results on Tuesday, February 4th. The financial services provider reported $2.96 earnings per share for the quarter, missing the consensus estimate of $3.36 by ($0.40). Prudential Financial had a net margin of 4.01% and a return on equity of 15.86%. As a group, equities research analysts forecast that Prudential Financial, Inc. will post 14.36 earnings per share for the current fiscal year.

Prudential Financial Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 13th. Stockholders of record on Tuesday, February 18th will be issued a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a dividend yield of 4.89%. This is a positive change from Prudential Financial’s previous quarterly dividend of $1.30. The ex-dividend date of this dividend is Tuesday, February 18th. Prudential Financial’s payout ratio is currently 72.29%.

About Prudential Financial

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.