Analyst Consensus ?
ConsensusHold37 ratings
Bullish718.9%
Neutral2567.6%
Bearish513.5%
Prudential Financial, Inc. · PRU · FY2026 Q3 · Calendar Q4 2026
Prudential’s Q3: Capital rotation advances as Japan remains a drag
The supplied Q3 analysis describes progress toward Prudential’s strategic shift into retirement, asset management and selected protection businesses. Continued Japan sales restrictions and execution around capital deployment remain important offsets; the analysis alone does not establish that the strategy’s expected benefits will be realized.
Reported After market closeNYSEFinancial Services
$40.99B market cap
80quality score
Earnings scorecard
Reported versus consensus
Reported EPS
—
Consensus $3.47
EPS surprise
—
Reported versus consensus
Reported revenue
—
Consensus $15.11B
Revenue surprise
—
Reported versus consensus
Market reaction
close-to-close (session unavailable)
Stock move
+6.4%
Event window
SPY move
+1.8%
Same window
Abnormal move
+4.7%
Stock minus SPY
Volume
1.1×
Versus trailing sessions
Subsequent drift
0.0%
Up to 20 sessions
PRUSPY benchmark
Ask FN2 about PRU FY2026 Q3
Transcript, numbers and history already loaded
What drove PRU's +6.4% move after FY2026 Q3 earnings?What changed in PRU's guidance and outlook in FY2026 Q3?Give me the bull and bear case for PRU after FY2026 Q3 earnings.
Free account. Your question opens in FN2 with this report's transcript and numbers attached.
Transcript intelligence
What changed
Compared with the prior-quarter analysis, the Q3 analysis reports that Prudential completed emerging-market divestitures and describes the Brazil and Mexico sale proceeds as a source of capital for future acquisitions. Retail annuities and PGIM were again highlighted as growth areas, while the Japan sales suspension remained a constraint.
Guidance delta
The supplied analysis characterizes guidance sentiment as maintained. It highlights plans to deploy divestiture proceeds into strategic acquisitions, pursue PGIM margin expansion, expand retirement and savings products in Japan, strengthen claims management and underwriting, and maintain approximately $2 billion of dividends and buybacks while prioritizing organic growth.
Key takeaways
- The analysis reports Q3 adjusted operating income of $1.3 billion, down modestly year over year.
- Management’s stated strategic direction remains focused on retirement, asset management and selected protection businesses, with divestiture proceeds intended to support capital deployment.
- Retail annuities and PGIM were identified as areas of strength, including active ETFs and private-asset fundraising.
- Japan’s sales suspension continues to weigh on the business; growth through third-party distribution was also noted.
Management priorities
- Deploy proceeds from emerging-market divestitures into strategic acquisitions, particularly in asset management and group insurance.
- Continue PGIM margin expansion toward the stated 30% target and beyond.
- Develop retirement and savings products through Japan’s independent-agent and bank channels.
- Strengthen claims management and maintain disciplined underwriting.
- Prioritize organic growth while maintaining the stated capital-allocation approach.
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Analyst 52W Price Targets
$126.63Current
$79Low
$107.35Average
$128High
Latest persisted target per named analyst; persisted current price from FN2's market snapshot as of Nov 4, 2026. Not an FN2 forecast.
Firm-level rating actions
FMP grade actions identify the grading firm, not a named analyst.
| Firm | Rating | Prior rating | Action | Date |
|---|---|---|---|---|
| Wells Fargo | Underweight | Underweight | Maintain | Oct 28, 2026 |
| JP Morgan | Neutral | Neutral | Maintain | Oct 22, 2026 |
| TD Cowen | Hold | Hold | Maintain | Oct 21, 2026 |
| Morgan Stanley | Underweight | Underweight | Maintain | Oct 19, 2026 |
| Barclays | Underweight | Underweight | Maintain | Oct 19, 2026 |
| Keefe, Bruyette & Woods | Market Perform | Market Perform | Maintain | Oct 16, 2026 |
| Piper Sandler | Neutral | Neutral | Maintain | Oct 12, 2026 |
| Mizuho | Neutral | Neutral | Maintain | Oct 7, 2026 |
| Evercore ISI Group | In Line | In Line | Maintain | Jul 13, 2026 |
| Jefferies | Hold | Hold | Maintain | Jul 10, 2026 |
| Argus Research | Hold | Buy | Downgrade | Jun 9, 2026 |
| BMO Capital | Underperform | Underperform | Maintain | Apr 23, 2026 |
| B of A Securities | Neutral | Neutral | Maintain | Apr 14, 2026 |
| UBS | Neutral | Neutral | Maintain | Apr 9, 2026 |
| Citigroup | Neutral | Neutral | Maintain | Jul 23, 2024 |
| Raymond James | Market Perform | Strong Buy | Downgrade | Feb 9, 2024 |
| RBC Capital | Sector Perform | Sector Perform | Maintain | Sep 8, 2023 |
| Goldman Sachs | Sell | Neutral | Downgrade | Jan 9, 2023 |
| Credit Suisse | Neutral | Outperform | Downgrade | Mar 25, 2022 |
| Wolfe Research | Perform | Peer Perform | Maintain | Jan 21, 2022 |
| B. Riley Securities | Neutral | Neutral | Maintain | Apr 21, 2020 |
| B. Riley FBR | Neutral | Neutral | Maintain | Apr 21, 2020 |
| Atlantic Equities | Neutral | Overweight | Downgrade | Aug 8, 2019 |
| Citi | Neutral | Buy | Downgrade | Aug 5, 2019 |
| B. Riley | Neutral | Buy | Downgrade | Aug 1, 2019 |
| Deutsche Bank | Hold | Hold | Maintain | Apr 12, 2019 |
| Argus | Buy | Hold | Upgrade | May 5, 2018 |
| FBR Capital | Buy | Neutral | Upgrade | Oct 10, 2017 |
| Bank of America | Buy | Underperform | Upgrade | Nov 18, 2016 |
| Keefe Bruyette & Woods | Outperform | Outperform | Maintain | Nov 12, 2015 |
| Sterne Agee | Buy | Buy | Maintain | Oct 13, 2014 |
| Scotiabank | Sector Perform | Sector Perform | Maintain | Aug 8, 2014 |
| Drexel Hamilton | Buy | Buy | Maintain | Jul 7, 2014 |
| Janney Montgomery Scott | Neutral | Buy | Downgrade | Jan 3, 2014 |
| Janney Capital | Neutral | Buy | Downgrade | Jan 3, 2014 |
| Macquarie | Neutral | Outperform | Downgrade | Jan 16, 2013 |
| Evercore Partners | Overweight | Overweight | Maintain | May 10, 2012 |
Named analyst price targets
Upside is calculated against the persisted current price $126.63. FMP does not supply a rating on these named-analyst rows.
| Firm | Analyst | 52W target | Price when posted | Upside | Date |
|---|---|---|---|---|---|
| Wells Fargo | Analyst unavailable | $103 | $115.21 | -18.7% | Oct 28, 2026 |
| Barclays | Analyst unavailable | $94 | $115.91 | -25.8% | Oct 19, 2026 |
| Mizuho Securities | Yaron Kinar | $108 | $113.09 | -14.7% | Oct 12, 2026 |
| Barclays | Analyst unavailable | $96 | $113.54 | -24.2% | Oct 7, 2026 |
| Morgan Stanley | Bob Huang | $105 | $122.44 | -17.1% | Aug 24, 2026 |
| Wells Fargo | Wes Carmichael | $110 | $124.54 | -13.1% | Aug 19, 2026 |
| Piper Sandler | Paul Newsome | $128 | $122.11 | +1.1% | Aug 11, 2026 |
| Atlantic Equities | Analyst unavailable | $114 | $115.15 | -10.0% | Jul 15, 2026 |
| Jefferies | Suneet Kamath | $110 | $115 | -13.1% | Jul 10, 2026 |
| Mizuho Securities | Yaron Kinar | $109 | $112.67 | -13.9% | Jul 9, 2026 |
| Barclays | Alex Scott | $92 | $114.28 | -27.3% | Jul 7, 2026 |
| Wells Fargo | Wes Carmichael | $100 | $101.12 | -21.0% | May 12, 2026 |
| Barclays | Alex Scott | $90 | $100.27 | -28.9% | May 6, 2026 |
| UBS | Analyst unavailable | $92 | $98.62 | -27.3% | May 4, 2026 |
| BMO Capital | Jack Matten | $87 | $94.9 | -31.3% | Apr 23, 2026 |
| Barclays | Alex Scott | $91 | $96.45 | -28.1% | Apr 21, 2026 |
| Mizuho Securities | Analyst unavailable | $101 | $97.59 | -20.2% | Apr 13, 2026 |
| UBS | Michael Ward | $98 | $97.1 | -22.6% | Apr 9, 2026 |
| Morgan Stanley | Bob Jian Huang | $111 | $97.04 | -12.3% | Mar 6, 2026 |
| Evercore ISI | Analyst unavailable | $110 | $102.17 | -13.1% | Feb 4, 2026 |
| Mizuho Securities | Analyst unavailable | $126 | $116.58 | -0.5% | Jan 14, 2026 |
| Wells Fargo | Elyse Greenspan | $115 | $117.74 | -9.2% | Jan 13, 2026 |
| UBS | Analyst unavailable | $116 | $118.78 | -8.4% | Jan 8, 2026 |
| Barclays | Alex Scott | $124 | $116.85 | -2.1% | Jan 8, 2026 |
| Piper Sandler | Analyst unavailable | $120 | $114.84 | -5.2% | Dec 23, 2025 |
| Mizuho Securities | Yaron Kinar | $125 | $117.65 | -1.3% | Dec 15, 2025 |
| Barclays | Alex Scott | $117 | $103.41 | -7.6% | Oct 8, 2025 |
| Morgan Stanley | Bob Huang | $118 | $103.36 | -6.8% | Oct 7, 2025 |
| UBS | Michael Ward | $122 | $112.71 | -3.7% | Apr 2, 2025 |
| Morgan Stanley | Analyst unavailable | $128 | $115.1 | +1.1% | Feb 28, 2025 |
| Barclays | Alex Scott | $119 | $126.64 | -6.0% | Oct 31, 2024 |
| Piper Sandler | John Barnidge | $127 | $119.36 | +0.3% | Oct 2, 2024 |
| Barclays | Alex Scott | $118 | $119.55 | -6.8% | Sep 4, 2024 |
| Wells Fargo | Elyse Greenspan | $113 | $108.4 | -10.8% | Aug 12, 2024 |
| Jefferies | Suneet Kamath | $143 | $117.84 | +12.9% | May 22, 2024 |
| CFRA | Catherine Seifert | $112 | $116.69 | -11.6% | May 8, 2024 |
| Piper Sandler | John Barnidge | $121 | $112.26 | -4.4% | May 6, 2024 |
| Evercore ISI | Thomas Gallagher | $116 | $112.76 | -8.4% | Apr 24, 2024 |
| Piper Sandler | John Barnidge | $125 | $115.89 | -1.3% | Apr 5, 2024 |
| Jefferies | Suneet Kamath | $93 | $96.58 | -26.6% | Sep 14, 2023 |
| Morgan Stanley | Analyst unavailable | $114 | $99.19 | -10.0% | Jan 10, 2023 |
| Barclays | Analyst unavailable | $105 | $98.26 | -17.1% | Jan 10, 2023 |
| Goldman Sachs | Analyst unavailable | $96 | $101.01 | -24.2% | Jan 9, 2023 |
| Piper Sandler | Analyst unavailable | $106 | $98.08 | -16.3% | Dec 20, 2022 |
| Morgan Stanley | Analyst unavailable | $112 | $106.16 | -11.6% | Nov 17, 2022 |
| Jefferies | Analyst unavailable | $79 | $96.12 | -37.6% | Sep 8, 2022 |
| Morgan Stanley | Analyst unavailable | $108 | $104.36 | -14.7% | Aug 17, 2022 |
| Wells Fargo | Analyst unavailable | $101 | $96.81 | -20.2% | Aug 4, 2022 |
| Barclays | Analyst unavailable | $95 | $90.45 | -25.0% | Jul 14, 2022 |
| RBC Capital | Analyst unavailable | $112 | $96.11 | -11.6% | Jul 11, 2022 |
| Piper Sandler | Analyst unavailable | $100 | $96.6 | -21.0% | Jul 8, 2022 |
| Evercore ISI | Analyst unavailable | $100 | $94.26 | -21.0% | Jul 6, 2022 |
| Morgan Stanley | Analyst unavailable | $103 | $93.9 | -18.7% | Jul 6, 2022 |
| Goldman Sachs | Analyst unavailable | $99 | $103.96 | -21.8% | Jun 6, 2022 |
| Piper Sandler | Analyst unavailable | $110 | $104.56 | -13.1% | May 27, 2022 |
| Morgan Stanley | Analyst unavailable | $120 | $109.14 | -5.2% | May 4, 2022 |
| Evercore ISI | Thomas Gallagher | $105 | $110.28 | -17.1% | Jan 5, 2022 |
| Goldman Sachs | Alex Scott | $115 | $102.38 | -9.2% | Dec 2, 2021 |
| Bank of America Securities | Joshua Shanker | $108 | $103.18 | -14.7% | Aug 17, 2021 |
Track every rating change on PRU the moment it posts. Free to start.
Start freeCompany context
Snapshot as of publicationPrudential Financial, Inc., together with its subsidiaries, provides financial products and services in the United States, Japan and internationally. It operates through PGIM, Retirement Strategies, Group Insurance, Individual Life, and International Businesses segments. The PGIM segment offers investment management services and solutions related to public fixed income, public equity, real estate debt and equity, private credit and other alternatives, and multi-asset class strategies to institutional and retail clients, as well as its insurance and retirement businesses. The Retirement Strategies segment provides a range of retirement investment, and income products and services to retirement plan sponsors in the public, private, and not-for-profit sectors; group annuities and other products; international reinsurance; investment only products; and FlexGuard suite, Fixed annuities, and variable annuities…
Historical context
All PRU earningsFinancial Services peers this season
Latest reports in the same sector| Company | Quarter | EPS surprise | Market move | Headline |
|---|---|---|---|---|
| PFH Prudential Financial, Inc. 4.125% Junior Subordinated Notes due 2060 | FY2026 Q3 · Calendar Q4 2026 | — | +2.9% | Prudential Holds Guidance as Japan Suspension Offsets PGIM Strength |
| AFG American Financial Group, Inc. | FY2026 Q3 · Calendar Q4 2026 | +4.5% | +1.0% | AFG sets quarterly earnings records, while underwriting risks persist |
| CRCL Circle Internet Group | FY2026 Q3 · Calendar Q4 2026 | — | +2.3% | Circle’s Q3 growth highlights USDC scale, while monetization remains key |
| BSAC Banco Santander-Chile | FY2026 Q3 · Calendar Q4 2026 | -20.0% | -3.0% | BSAC Keeps 2026 Guidance as Q3 Earnings Miss Estimates |
| AIZ Assurant, Inc. | FY2026 Q3 · Calendar Q4 2026 | +29.5% | +4.2% | Assurant raises FY2026 outlook as Lifestyle and Housing earnings grow |
| AIZN Assurant, Inc. 5.25% Subordinat | FY2026 Q3 · Calendar Q4 2026 | +36.0% | +0.5% | Assurant posts record Q3 as Connected Living drives growth |
Latest beats and misses
Who reports nextBeat on EPS
- IFFFY2026 Q3 · November 3, 2026+2.1% EPS-4.9% move
- JKHYFY2027 Q1 · November 3, 2026+10.1% EPS+10.8% move
- HL-PBFY2026 Q3 · November 3, 2026+54.0% EPS— move
- SUFY2026 Q3 · November 3, 2026+20.9% EPS-4.5% move
- AFGFY2026 Q3 · November 3, 2026+4.5% EPS+1.0% move
- WTRGFY2026 Q3 · November 3, 2026+13.7% EPS+2.5% move
Missed on EPS
- OHIFY2026 Q3 · November 3, 2026-42.5% EPS+3.5% move
- MOSFY2026 Q3 · November 3, 2026-1656.0% EPS+17.4% move
- OVVFY2026 Q3 · November 3, 2026-2.0% EPS-5.1% move
- BSACFY2026 Q3 · October 30, 2026-20.0% EPS-3.0% move
- TXFY2026 Q3 · November 3, 2026-24.9% EPS-0.0% move
- CHTFY2026 Q3 · November 4, 2026-55.7% EPS+0.9% move
Get the PRU recap when the next report posts
One email per quarter with the scorecard, the market reaction and what changed on the call. No account needed.
Sources
- Earnings call transcript and parsed analysis · 2026-11-04T20:05:17.446687+00:00
- FN2 earnings calendar · 2026-10-07T01:23:11.472556+00:00
- Polygon adjusted daily market bars · 2026-11-04T20:10:47.979811+00:00
- Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-11-04T20:10:47.977118+00:00
Methodology
Reported and consensus figures come from FN2's earnings event records. Market reaction and volume are calculated from daily adjusted bars around the event; abnormal move subtracts the SPY move over the same window.
Analyst target low, average, and high values are derived at request time from each named analyst's latest persisted FMP target. The current-price marker comes from FN2's persisted market snapshot. They are sell-side estimates, not an FN2 valuation or recommendation.
Transcript intelligence is a structured synthesis of the current and prior earnings-call analyses. Missing values stay missing and are never estimated.
By FN2 Research · Updated · As of 2026-11-04. For educational purposes only; not investment advice.