Evercore ISI Increases Corebridge Financial (NYSE:CRBG) Price Target to $32.00

Corebridge Financial (NYSE:CRBG) had its target price hoisted by stock analysts at Evercore ISI from $30.00 to $32.00 in a research note issued on Thursday, Benzinga reports. The firm presently has an “outperform” rating on the stock. Evercore ISI’s price target would suggest a potential upside of 19.54% from the company’s current price.

A number of other equities research analysts also recently weighed in on CRBG. Piper Sandler lifted their target price on Corebridge Financial from $30.00 to $34.00 and gave the stock an “overweight” rating in a report on Friday, April 5th. The Goldman Sachs Group lifted their target price on Corebridge Financial from $27.00 to $31.00 and gave the stock a “buy” rating in a report on Tuesday, January 9th. Keefe, Bruyette & Woods lifted their target price on Corebridge Financial from $35.00 to $38.00 and gave the stock an “outperform” rating in a report on Wednesday. Wells Fargo & Company lifted their target price on Corebridge Financial from $30.00 to $33.00 and gave the stock an “overweight” rating in a report on Thursday. Finally, UBS Group lifted their target price on Corebridge Financial from $22.00 to $28.00 and gave the stock a “buy” rating in a report on Wednesday, January 10th. 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 company has an average rating of “Moderate Buy” and an average target price of $28.83.

Corebridge Financial Price Performance

Corebridge Financial stock opened at $26.77 on Thursday. The stock’s 50 day moving average is $25.82 and its 200 day moving average is $22.96. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.14 and a quick ratio of 0.14. The firm has a market cap of $16.67 billion, a P/E ratio of 15.84, a P/E/G ratio of 0.32 and a beta of 0.86. Corebridge Financial has a one year low of $14.91 and a one year high of $29.40.

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

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Riverview Trust Co purchased a new position in shares of Corebridge Financial during the first quarter valued at approximately $25,000. EverSource Wealth Advisors LLC purchased a new position in Corebridge Financial in the third quarter worth $28,000. Nomura Asset Management Co. Ltd. purchased a new position in Corebridge Financial in the first quarter worth $30,000. MetLife Investment Management LLC purchased a new position in Corebridge Financial in the fourth quarter worth $33,000. Finally, Advisor Group Holdings Inc. purchased a new position in Corebridge Financial in the fourth quarter worth $35,000. Hedge funds and other institutional investors own 98.25% of the company’s stock.

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.