Keefe, Bruyette & Woods Has Lowered Expectations for Corebridge Financial (NYSE:CRBG) Stock Price

Corebridge Financial (NYSE:CRBG) had its target price cut by research analysts at Keefe, Bruyette & Woods from $40.00 to $37.00 in a report released on Wednesday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Keefe, Bruyette & Woods’ price target points to a potential upside of 38.16% from the company’s current price.

Several other equities research analysts have also commented on CRBG. UBS Group lowered shares of Corebridge Financial from a “buy” rating to a “sell” rating and cut their price target for the stock from $40.00 to $28.00 in a report on Wednesday, April 2nd. Piper Sandler lifted their target price on shares of Corebridge Financial from $35.00 to $38.00 and gave the company an “overweight” rating in a research report on Wednesday, April 2nd. Morgan Stanley upgraded shares of Corebridge Financial from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $35.00 to $43.00 in a research report on Friday, February 28th. Barclays raised shares of Corebridge Financial from an “equal weight” rating to an “overweight” rating and set a $37.00 price target on the stock in a research note on Monday, January 6th. Finally, Deutsche Bank Aktiengesellschaft upgraded Corebridge Financial from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $33.00 to $40.00 in a research note on Friday, January 10th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, Corebridge Financial presently has an average rating of “Moderate Buy” and an average price target of $35.93.

Corebridge Financial Trading Down 7.2 %

Shares of Corebridge Financial stock opened at $26.78 on Wednesday. Corebridge Financial has a fifty-two week low of $23.69 and a fifty-two week high of $35.36. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.13 and a current ratio of 0.13. The company has a market cap of $14.89 billion, a P/E ratio of 7.08, a price-to-earnings-growth ratio of 0.43 and a beta of 0.98. The firm has a 50-day simple moving average of $31.68 and a two-hundred day simple moving average of $31.25.

Corebridge Financial (NYSE:CRBG) last released its quarterly earnings results on Wednesday, February 12th. The company reported $1.23 earnings per share for the quarter, missing analysts’ consensus estimates of $1.27 by ($0.04). Corebridge Financial had a return on equity of 22.69% and a net margin of 11.39%. As a group, equities analysts predict that Corebridge Financial will post 5.43 earnings per share for the current fiscal year.

Institutional Trading of Corebridge Financial

Several large investors have recently added to or reduced their stakes in CRBG. EverSource Wealth Advisors LLC boosted its position in shares of Corebridge Financial by 25.1% during the 4th 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 during the last quarter. Whittier Trust Co. of Nevada Inc. raised its stake in Corebridge Financial by 58.4% during the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 1,147 shares of the company’s stock worth $34,000 after purchasing an additional 423 shares during the period. Smartleaf Asset Management LLC boosted its holdings in Corebridge Financial by 112.4% in 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 during the last quarter. Sanctuary Advisors LLC grew its stake in shares of Corebridge Financial by 3.1% in the 4th quarter. Sanctuary Advisors LLC now owns 22,182 shares of the company’s stock valued at $664,000 after buying an additional 660 shares during the period. Finally, MetLife Investment Management LLC grew its stake in shares of Corebridge Financial by 16.0% in the 4th quarter. MetLife Investment Management LLC now owns 5,193 shares of the company’s stock valued at $155,000 after buying an additional 715 shares during the period. 98.25% of the stock is currently owned by hedge funds and other 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.