Corebridge Financial (NYSE:CRBG) PT Raised to $28.00

Corebridge Financial (NYSE:CRBG) had its price objective upped by Morgan Stanley from $26.00 to $28.00 in a research report issued to clients and investors on Monday, Benzinga reports. The firm currently has an “equal weight” rating on the stock. Morgan Stanley’s price objective would indicate a potential upside of 4.44% from the company’s previous close.

A number of other research firms also recently commented on CRBG. Keefe, Bruyette & Woods boosted their price target on Corebridge Financial from $35.00 to $38.00 and gave the company an “outperform” rating in a research note on Wednesday, April 10th. Piper Sandler boosted their price target on Corebridge Financial from $30.00 to $34.00 and gave the company an “overweight” rating in a research note on Friday, April 5th. Evercore ISI boosted their price target on Corebridge Financial from $30.00 to $32.00 and gave the company an “outperform” rating in a research note on Thursday, April 11th. The Goldman Sachs Group boosted their price target on Corebridge Financial from $27.00 to $31.00 and gave the company a “buy” rating in a research note on Tuesday, January 9th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $32.00 target price on shares of Corebridge Financial in a research note on Friday, April 12th. Three investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $29.08.

Corebridge Financial Trading Up 0.6 %

Shares of Corebridge Financial stock opened at $26.81 on Monday. The firm has a 50-day moving average of $25.95 and a 200-day moving average of $23.11. The stock has a market cap of $16.69 billion, a PE ratio of 15.86, a PEG ratio of 0.31 and a beta of 0.86. Corebridge Financial has a 52-week low of $14.91 and a 52-week high of $29.40. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.14 and a current ratio of 0.14.

Corebridge Financial (NYSE:CRBG) last announced its earnings results on Thursday, February 15th. The company reported $1.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.99 by $0.05. The company had revenue of $5.92 billion during the quarter, compared to analysts’ expectations of $5.65 billion. Corebridge Financial had a net margin of 5.92% and a return on equity of 23.11%. Corebridge Financial’s quarterly revenue was up 11.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.88 earnings per share. As a group, sell-side analysts forecast that Corebridge Financial will post 4.86 EPS for the current year.

Institutional Trading of Corebridge Financial

Institutional investors have recently added to or reduced their stakes in the stock. American International Group Inc. boosted its holdings in shares of Corebridge Financial by 25,998,738.6% during the 4th quarter. American International Group Inc. now owns 324,205,517 shares of the company’s stock worth $7,022,291,000 after buying an additional 324,204,270 shares in the last quarter. Capital Research Global Investors boosted its holdings in shares of Corebridge Financial by 6.5% during the 4th quarter. Capital Research Global Investors now owns 30,781,806 shares of the company’s stock worth $666,734,000 after buying an additional 1,865,841 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of Corebridge Financial by 39.0% during the 4th quarter. Vanguard Group Inc. now owns 23,713,102 shares of the company’s stock worth $513,626,000 after buying an additional 6,648,673 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in shares of Corebridge Financial by 16.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 18,725,378 shares of the company’s stock worth $299,982,000 after buying an additional 2,677,024 shares in the last quarter. Finally, Norges Bank bought a new position in shares of Corebridge Financial during the 4th quarter worth approximately $225,561,000. 98.25% of the stock is currently owned by institutional investors.

About Corebridge Financial

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.