Corebridge Financial (NYSE:CRBG) Stock Price Expected to Rise, Mizuho Analyst Says

Corebridge Financial (NYSE:CRBG) had its target price lifted by investment analysts at Mizuho from $35.00 to $36.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Mizuho’s target price suggests a potential upside of 20.76% from the stock’s current price.

Other analysts also recently issued reports about the company. Weiss Ratings downgraded Corebridge Financial from a “hold (c)” rating to a “hold (c-)” rating in a research note on Tuesday, May 26th. Wells Fargo & Company boosted their price target on shares of Corebridge Financial from $32.00 to $35.00 and gave the company an “overweight” rating in a research report on Tuesday, May 12th. Keefe, Bruyette & Woods upped their price objective on shares of Corebridge Financial from $31.00 to $38.00 and gave the company an “outperform” rating in a report on Wednesday, May 6th. Piper Sandler cut their price objective on shares of Corebridge Financial from $35.00 to $31.00 and set an “overweight” rating for the company in a research report on Tuesday, May 26th. Finally, Zacks Research raised shares of Corebridge Financial from a “strong sell” rating to a “hold” rating in a research note on Monday, June 22nd. Eight research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $35.00.

Corebridge Financial Price Performance

CRBG stock opened at $29.81 on Thursday. Corebridge Financial has a 1 year low of $22.19 and a 1 year high of $36.57. 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 firm has a market capitalization of $13.29 billion, a PE ratio of 54.20, a price-to-earnings-growth ratio of 0.34 and a beta of 1.10. The business has a 50 day simple moving average of $27.95 and a 200-day simple moving average of $27.86.

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

Insiders Place Their Bets

In other news, insider David Ditillo sold 4,250 shares of Corebridge Financial stock in a transaction on Monday, July 6th. The stock was sold at an average price of $30.00, for a total value of $127,500.00. Following the completion of the sale, the insider directly owned 128,153 shares of the company’s stock, valued at approximately $3,844,590. The trade was a 3.21% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.29% of the company’s stock.

Institutional Trading of Corebridge Financial

A number of large investors have recently modified their holdings of the stock. Community Bank N.A. purchased a new stake in shares of Corebridge Financial during the third quarter worth approximately $26,000. Salomon & Ludwin LLC lifted its holdings in Corebridge Financial by 179.7% during 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 last quarter. Rothschild Investment LLC boosted its position in shares of Corebridge Financial by 133.3% during the 4th 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. Sonoma Allocations LLC acquired a new position in shares of Corebridge Financial during the 1st quarter worth about $30,000. Finally, True Wealth Design LLC increased its holdings in shares of Corebridge Financial by 50.2% in the 4th quarter. True Wealth Design LLC now owns 1,233 shares of the company’s stock valued at $37,000 after acquiring an additional 412 shares during the last quarter. Hedge funds and other institutional investors own 98.25% of the company’s stock.

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.