Corebridge Financial, Inc. (NYSE:CRBG) Given Average Rating of “Moderate Buy” by Brokerages

Shares of Corebridge Financial, Inc. (NYSE:CRBG) have been given an average rating of “Moderate Buy” by the fifteen research firms that are presently covering the firm, MarketBeat Ratings reports. Three research analysts have rated the stock with a hold recommendation and twelve have given a buy recommendation to the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $36.43.

A number of analysts recently commented on CRBG shares. Wells Fargo & Company decreased their price target on Corebridge Financial from $37.00 to $35.00 and set an “overweight” rating for the company in a research report on Tuesday, January 14th. Morgan Stanley raised their target price on Corebridge Financial from $31.00 to $34.00 and gave the company an “equal weight” rating in a research report on Tuesday, November 5th. Piper Sandler lifted their target price on Corebridge Financial from $34.00 to $35.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 18th. DOWLING & PARTN lowered shares of Corebridge Financial from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 26th. Finally, Barclays raised shares of Corebridge Financial from an “equal weight” rating to an “overweight” rating and set a $37.00 price objective on the stock in a research report on Monday, January 6th.

Corebridge Financial Stock Performance

NYSE CRBG opened at $32.77 on Thursday. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.14 and a quick ratio of 0.14. The company has a fifty day moving average price of $31.40 and a 200-day moving average price of $30.13. Corebridge Financial has a 1 year low of $23.34 and a 1 year high of $34.66. The firm has a market cap of $18.64 billion, a price-to-earnings ratio of -15.68, a PEG ratio of 0.37 and a beta of 0.94.

Corebridge Financial (NYSE:CRBG) last issued its quarterly earnings data on Wednesday, February 12th. The company reported $1.23 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.27 by ($0.04). Corebridge Financial had a positive return on equity of 22.24% and a negative net margin of 6.10%. As a group, equities research analysts predict that Corebridge Financial will post 4.8 EPS for the current fiscal year.

Insider Buying and Selling at Corebridge Financial

In other Corebridge Financial news, major shareholder International Group American sold 121,956,256 shares of the firm’s stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $31.47, for a total value of $3,837,963,376.32. Following the completion of the transaction, the insider now owns 127,282,642 shares in the company, valued at $4,005,584,743.74. This trade represents a 48.93 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.08% of the company’s stock.

Institutional Investors Weigh In On Corebridge Financial

Institutional investors and hedge funds have recently modified their holdings of the company. EverSource Wealth Advisors LLC grew its stake in Corebridge Financial by 25.1% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,642 shares of the company’s stock valued at $49,000 after acquiring an additional 329 shares in the last quarter. Whittier Trust Co. of Nevada Inc. boosted its holdings in Corebridge Financial by 58.4% in the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 1,147 shares of the company’s stock valued at $34,000 after purchasing an additional 423 shares during the period. Smartleaf Asset Management LLC grew its position in shares of Corebridge Financial by 112.4% during the 4th quarter. Smartleaf Asset Management LLC now owns 907 shares of the company’s stock valued at $27,000 after purchasing an additional 480 shares in the last quarter. Covestor Ltd increased its holdings in shares of Corebridge Financial by 118.8% in the third quarter. Covestor Ltd now owns 1,050 shares of the company’s stock worth $31,000 after purchasing an additional 570 shares during the period. Finally, The Manufacturers Life Insurance Company raised its position in shares of Corebridge Financial by 2.8% in the second quarter. The Manufacturers Life Insurance Company now owns 21,479 shares of the company’s stock worth $625,000 after buying an additional 585 shares in the last quarter. 98.25% of the stock is owned by hedge funds and other institutional investors.

Corebridge Financial Company Profile

Corebridge Financial, Inc provides retirement solutions and insurance products in the United States. The company operates through Individual Retirement, Group Retirement, Life Insurance, and Institutional Markets segments. The Individual Retirement segment provides fixed annuities, fixed index annuities, variable annuities, and retail mutual funds.