Latest revenue
$5.67B
as of 2026-03-31
Latest net income
$597.0M
as of 2026-03-31
Net margin
10.5%
as of 2026-03-31
Price · 5Y
Live market
delayed ≤15 min- Market cap
- $36.13B
- Enterprise value
- $55.54B
- P/E (trailing)
- 10.1×
- Forward P/E
- —
- P/B
- 1.13×
- Dividend yield
- 3.9%
- 52-wk high
- $119.76
- 52-wk low
- $91.89
- Beta
- —
- Shares out
- 347.0M
5-year trend
What this company does
Prudential Financial sells life insurance, annuities, retirement products, and investment management services to individuals and institutions in the US, Japan, and other markets. The company earns money primarily from insurance premiums, net investment income on its $472 billion portfolio, and fees from asset management and policy charges. Q3 2025 net income jumped to $1.43 billion from $448 million a year earlier, driven by lower policyholder benefits and smaller realized investment losses, even as premium revenue declined sharply year-over-year.
Key risks
- Large unrealized bond losses: AFS fixed maturities carry $360.7B amortized cost vs $335.4B fair value, a ~$25B unrealized loss exposure.
- Realized investment losses widened to $3.46B for nine months 2025 vs $2.32B prior year, pressuring earnings quality despite higher net income.
- Reinsurance recoverables grew to $44.9B (from $37.7B), increasing counterparty credit exposure tied to ongoing block reinsurance transactions.
Profitability
Net margin
5.9%
51.9%Return on equity
11.0%
12.7%Return on assets
0.5%
99.4%Leverage
Debt / equity
22.85×
2707.2%Long-term debt / equity
0.58×
15.6%Debt / assets
95.8%
113.5%Earnings tracker
| Quarter | Revenue | YoY | Net income | YoY | Net margin |
|---|---|---|---|---|---|
Q1 2026 2026-03-31 | $5.67B | +10.4% | $597.0M | -15.6% | 10.5% |
Q4 2025 2025-12-31 | $44.89B | -19.5% | $905.0M | +1687.7% | 2.0% |
Q3 2025 2025-09-30 | $5.53B | +9.4% | $1.43B | +219.4% | 25.9% |
Q2 2025 2025-06-30 | $5.23B | +7.8% | $533.0M | -55.5% | 10.2% |
Q1 2025 2025-03-31 | $5.13B | +7.7% | $707.0M | -37.9% | 13.8% |
Q4 2024 2024-12-31 | $55.74B | — | $-57.0M | — | -0.1% |
Q3 2024 2024-09-30 | $5.05B | +21.1% | $448.0M | +155.9% | 8.9% |
Q2 2024 2024-06-30 | $4.85B | +8.3% | $1.20B | +134.4% | 24.7% |
Year-over-year change vs the same fiscal quarter one year prior. Revenue + net income sourced from SEC 10-Q / 10-K filings — no analyst-consensus dependency.
Industry trend
Life Insurance · SIC 6311
Your notes
Keep private notes on PRU — thesis, target price, catalysts to watch.
Visible only to you. Never shared. Never used to train AI.
Insider activity
No insider transactions on file for PRU in the last 12 months.
Source: SEC Form 4 filings. Backfill runs nightly.
Who owns PRU
Institutional value
$8.54B
Total shares held
90.7M
Distinct holders
754
As of
2026-03-31
Filers with $100M+ AUM disclose holdings 45 days after quarter end.
Top institutional holders
| # | Manager | Shares | Value | QoQ change | Action |
|---|---|---|---|---|---|
| 1 | VANGUARD CAPITAL MANAGEMENT LLC | 22.6M | $2.21B | — | New |
| 2 | VANGUARD PORTFOLIO MANAGEMENT LLC | 16.3M | $1.59B | — | New |
| 3 | Invesco Ltd. | 4.8M | $465.7M | — | New |
| 4 | DIMENSIONAL FUND ADVISORS LP | 3.8M | $367.1M | — | New |
| 5 | Legal & General Group Plc | 2.7M | $260.3M | — | New |
| 6 | UBS Group AG | 2.0M | $197.7M | — | New |
| 7 | Bank of New York Mellon Corp | 2.0M | $195.0M | — | New |
| 8 | VANGUARD FIDUCIARY TRUST CO | 2.0M | $191.3M | — | New |
| 9 | DEUTSCHE BANK AG\ | 1.5M | $146.7M | — | New |
| 10 | FEDERATED HERMES, INC. | 1.1M | $107.7M | — | New |
| 11 | WELLS FARGO & COMPANY/MN | 1.0M | $102.0M | — | New |
| 12 | AustralianSuper Pty Ltd | 1.0M | $101.8M | — | New |
| 13 | Swiss National Bank | 1.0M | $100.3M | — | New |
| 14 | HSBC HOLDINGS PLC | 998.9K | $97.6M | — | New |
| 15 | STIFEL FINANCIAL CORP | 875.6K | $85.5M | — | New |
| 16 | LPL Financial LLC | 845.5K | $82.6M | — | New |
| 17 | Nuveen, LLC | 840.8K | $82.1M | — | New |
| 18 | National Pension Service | 804.4K | $78.6M | — | New |
| 19 | Mitsubishi UFJ Asset Management Co., Ltd. | 784.6K | $76.6M | — | New |
| 20 | Vanguard Global Advisers, LLC | 778.6K | $76.1M | — | New |
Source: SEC Form 13F-HR. Positions aggregated across sub-managers within each firm. Options (puts/calls) excluded — common stock only.
Top questions investors are asking
- 1
Realized investment losses totaled $3.46B over nine months versus $2.32B last year—what specific portfolio exposures drove the deterioration and are further marks coming?
- 2
AOCI remains at negative $3.18B with $25.3B of unrealized losses on AFS fixed maturities; how does this constrain capital returns and PGIM flexibility?
- 3
Premiums collapsed from $36.4B to $23.2B YoY—quantify the pension risk transfer slowdown versus reinsurance impact and 2026 PRT pipeline visibility.