Corebridge Financial (NYSE:CRBG) Price Target Raised to $33.00 at Barclays

Corebridge Financial (NYSE:CRBG) had its target price hoisted by research analysts at Barclays from $30.00 to $33.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Barclays‘s price target would indicate a potential upside of 6.20% from the stock’s current price.

Several other brokerages have also issued reports on CRBG. Keefe, Bruyette & Woods raised their price objective on Corebridge Financial from $31.00 to $38.00 and gave the stock an “outperform” rating in a report on Wednesday, May 6th. Zacks Research raised Corebridge Financial from a “strong sell” rating to a “hold” rating in a report on Monday, June 22nd. Wells Fargo & Company upped their target price on Corebridge Financial from $32.00 to $35.00 and gave the company an “overweight” rating in a research report on Tuesday, May 12th. Bank of America dropped their price target on Corebridge Financial from $42.00 to $40.00 and set a “buy” rating on the stock in a research note on Tuesday, April 14th. Finally, JPMorgan Chase & Co. cut their price target on Corebridge Financial from $37.00 to $36.00 and set a “neutral” rating on the stock in a research report on Tuesday, May 12th. Eight analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $34.64.

Corebridge Financial Stock Up 0.9%

Shares of Corebridge Financial stock traded up $0.26 during trading hours on Tuesday, hitting $31.07. The company had a trading volume of 142,841 shares, compared to its average volume of 5,257,521. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.12 and a quick ratio of 0.12. The company’s 50-day moving average is $27.71 and its two-hundred day moving average is $27.87. The company has a market cap of $13.85 billion, a P/E ratio of 56.59, a price-to-earnings-growth ratio of 0.33 and a beta of 1.10. Corebridge Financial has a twelve month low of $22.19 and a twelve month high of $36.57.

Corebridge Financial (NYSE:CRBG) last announced its quarterly earnings results on Wednesday, May 6th. The company reported $1.05 EPS for the quarter, missing the consensus estimate of $1.07 by ($0.02). Corebridge Financial had a return on equity of 18.44% and a net margin of 1.20%.The company had revenue of $4.08 billion for the quarter, compared to analyst estimates of $5.06 billion. During the same quarter in the prior year, the business earned $1.16 earnings per share. Analysts anticipate that Corebridge Financial will post 4.75 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Corebridge Financial

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Community Bank N.A. purchased a new position in shares of Corebridge Financial during the third quarter worth about $26,000. Salomon & Ludwin LLC raised its stake in Corebridge Financial by 179.7% during the 4th quarter. Salomon & Ludwin LLC now owns 828 shares of the company’s stock valued at $26,000 after acquiring an additional 532 shares during the last quarter. Rothschild Investment LLC raised its stake in Corebridge Financial by 133.3% during the 4th quarter. Rothschild Investment LLC now owns 910 shares of the company’s stock valued at $27,000 after acquiring an additional 520 shares during the last quarter. True Wealth Design LLC lifted its position in Corebridge Financial by 50.2% during the 4th quarter. True Wealth Design LLC now owns 1,233 shares of the company’s stock worth $37,000 after acquiring an additional 412 shares during the period. Finally, Sonoma Allocations LLC acquired a new stake in Corebridge Financial during the 1st quarter worth approximately $30,000. 98.25% of the stock is owned by hedge funds and other institutional investors.

Corebridge Financial Company Profile

Corebridge Financial (NYSE: CRBG) is a publicly traded provider of retirement, life insurance and asset management solutions. Formed from the separation of American International Group’s life and retirement operations, Corebridge focuses on helping individuals, employers and institutions manage retirement income, protect against longevity and mortality risks, and invest long-term savings. The company operates under a unified brand that brings together insurance products and investment capabilities to deliver integrated financial solutions.

Corebridge’s product suite includes retirement income and annuity products, individual and group life insurance, asset management and investment advisory services, and employer-sponsored retirement plan offerings.