Wells Fargo Cuts Prudential Financial (PRU) Price Target to $104

Wells Fargo maintains its Underweight rating on Prudential Financial, lowering the price target to $104.0 on October 12, 2026, a 10.08% downside from the current price.

By TradeTexts Research Desk · Published Oct 16, 2026, 2:11 PM EDT

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Wells Fargo cut its price target on Prudential Financial, Inc. ($PRU) to $104 from $110 on October 12, 2026, and rates the stock "Underweight".

Since the rating, $PRU is up 2.2% to date (from the $113.39 close on Oct 12, 2026).

PRU Prudential Financial, Inc.

$115.91 +5.79% year to date

Daily close · Oct 16, 2026

Key Points

Wells Fargo reiterates its Underweight rating on Prudential Financial, adjusting the price target from $110.0 to $104.0.
Wells Fargo's $104 price target implies 10.08% downside from Prudential Financial, Inc.'s ($PRU) current $115.66 share price.
As of October 16, 2026, Prudential's stock is recently traded around $115.66, which is 11.2% above the new analyst target.
The company has a dividend yield of 5.6% and is set to report earnings on October 28, 2026.

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Wells Fargo has reiterated its Underweight rating on Prudential Financial, Inc. (NYSE: PRU) and lowered its price target from $110.0 to $104.0 on October 12, 2026. This move comes as part of a broader perspective from Wall Street, where other firms have also maintained cautious views on the stock.

Other Institutional Activity in Prudential Financial

While Wells Fargo is adjusting its stance on Prudential, other institutional investors have been active as well. Blackrock Inc. reduced its holdings by 967,135 shares, ending with 32,497,736 shares valued at about $3.77 billion. Vanguard Capital Management LLC added 54,196 shares, bringing its total to 22,636,013 shares worth approximately $2.62 billion. State Street Corporation increased its position by 208,561 shares, now holding 17,164,760 shares valued at about $1.99 billion.

Prudential Financial, Inc. Stock Down 2.3%

Prudential Financial's stock is currently trading at $115.66 as of October 16, 2026. This price is 11.2% above Wells Fargo's new target of $104.0, indicating that the stock may be overvalued according to this analyst's perspective.

12-month forecast

$PRU price target

Prudential Financial, Inc. daily closes and this analyst's $104 target. Not advice.

Recent Earnings

For the trailing twelve months, Prudential reported revenue of about $65.2 billion and earnings per share (EPS) of $11.03. The company has shown a revenue growth of 14.1% year-over-year and a net margin of 6.0%. The next earnings report is set for October 28, 2026.

Insider Buying and Selling at Prudential Financial, Inc.

Insider transactions include Director Joseph J. Wolk, who bought 400 shares at $105.32 on February 11, 2026, worth about $42,128. Another Director, Thomas D. Stoddard, purchased 250 shares at $102.97 on February 17, 2026, totaling around $25,742. General Counsel Ann M. Kappler sold 13,580 shares at $103.25 on May 14, 2026, for about $1.4 million, and later sold 7,652 shares at $125.01 on August 14, 2026, valued at about $956,577.

Analysts Set New Price Targets

On October 12, 2026, Wells Fargo maintained its Underweight rating on Prudential with a target of $104.0. Earlier on the same day, Piper Sandler also maintained a Neutral rating with a target of $120.0. Morgan Stanley had set a target of $105.0 on August 24, 2026, while Mizuho maintained a Neutral rating at $109.0 on October 7, 2026.

About Prudential Financial

Prudential Financial, Inc. provides a range of financial products and services in the U.S. and internationally, focusing on life insurance, retirement solutions, and investment management. The company operates through several segments, including PGIM and Retirement Strategies. This analyst call reflects ongoing caution in the financial services sector, particularly in insurance.

Bottom Line

Investors should monitor Prudential's upcoming earnings report on October 28, 2026, and any further updates from analysts. With Wells Fargo's recent downgrade, it remains to be seen how the market will react to the company's financial performance and future outlook.