Keefe, Bruyette & Woods Boosts Corebridge Financial (NYSE:CRBG) Price Target to $38.00

Corebridge Financial (NYSE:CRBG) had its price objective boosted by equities researchers at Keefe, Bruyette & Woods from $31.00 to $38.00 in a report issued on Wednesday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Keefe, Bruyette & Woods’ price target indicates a potential upside of 35.45% from the company’s previous close.

A number of other equities research analysts also recently weighed in on the stock. Zacks Research downgraded shares of Corebridge Financial from a “hold” rating to a “strong sell” rating in a research note on Monday. Morgan Stanley cut their target price on shares of Corebridge Financial from $35.00 to $32.00 and set an “equal weight” rating on the stock in a research report on Tuesday, March 3rd. Weiss Ratings downgraded shares of Corebridge Financial from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, January 15th. UBS Group cut their price objective on shares of Corebridge Financial from $33.00 to $29.00 and set a “neutral” rating for the company in a report on Tuesday, April 28th. Finally, Wells Fargo & Company cut their price target on shares of Corebridge Financial from $36.00 to $32.00 and set an “overweight” rating for the company in a research report on Friday, April 10th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, five have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $35.58.

Corebridge Financial Price Performance

Shares of Corebridge Financial stock traded down $0.41 on Wednesday, reaching $28.06. 12,808,352 shares of the stock were exchanged, compared to its average volume of 4,978,777. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.12 and a current ratio of 0.12. The firm has a market cap of $13.51 billion, a PE ratio of 51.22, a P/E/G ratio of 0.38 and a beta of 1.18. The firm’s 50 day moving average is $25.25 and its 200-day moving average is $28.65. Corebridge Financial has a one year low of $22.19 and a one year high of $36.57.

Corebridge Financial (NYSE:CRBG) last announced its quarterly earnings data on Wednesday, May 6th. The company reported $1.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.07 by ($0.02). Corebridge Financial had a net margin of 1.20% and a return on equity of 17.56%. The firm had revenue of $4.09 billion during the quarter, compared to the consensus estimate of $5.06 billion. During the same period last year, the business earned $1.16 earnings per share. As a group, analysts anticipate that Corebridge Financial will post 4.91 EPS for the current fiscal year.

Institutional Trading of Corebridge Financial

Several large investors have recently bought and sold shares of the company. Community Bank N.A. purchased a new position in shares of Corebridge Financial during the 3rd quarter worth approximately $26,000. Salomon & Ludwin LLC grew its position in shares of Corebridge Financial by 179.7% in the 4th quarter. Salomon & Ludwin LLC now owns 828 shares of the company’s stock worth $26,000 after buying an additional 532 shares during the period. Smartleaf Asset Management LLC lifted its position in Corebridge Financial by 83.6% during the 3rd quarter. Smartleaf Asset Management LLC now owns 828 shares of the company’s stock valued at $27,000 after acquiring an additional 377 shares during the period. Rothschild Investment LLC boosted its stake in Corebridge Financial by 133.3% during the fourth quarter. Rothschild Investment LLC now owns 910 shares of the company’s stock worth $27,000 after acquiring an additional 520 shares in the last quarter. Finally, Root Financial Partners LLC purchased a new stake in Corebridge Financial in the third quarter worth about $32,000. 98.25% of the stock is owned by institutional investors.

About Corebridge Financial

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.