Barclays Increases Corebridge Financial (NYSE:CRBG) Price Target to $45.00

Corebridge Financial (NYSE:CRBG - Get Free Report) had its target price raised by equities researchers at Barclays from $38.00 to $45.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage presently has an "overweight" rating on the stock. Barclays's target price would suggest a potential upside of 29.21% from the stock's current price.

Other equities analysts have also recently issued reports about the company. Morgan Stanley boosted their target price on Corebridge Financial from $32.00 to $37.00 and gave the stock an "overweight" rating in a research report on Monday, May 19th. UBS Group lowered shares of Corebridge Financial from a "buy" rating to a "sell" rating and cut their target price for the stock from $40.00 to $28.00 in a research report on Wednesday, April 2nd. Keefe, Bruyette & Woods lifted their price target on shares of Corebridge Financial from $37.00 to $39.00 and gave the stock an "outperform" rating in a research note on Wednesday, May 7th. Piper Sandler lifted their price objective on Corebridge Financial from $35.00 to $38.00 and gave the stock an "overweight" rating in a report on Wednesday, April 2nd. Finally, Wall Street Zen upgraded Corebridge Financial from a "sell" rating to a "hold" rating in a research report on Friday, June 6th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and eleven have assigned a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $37.54.

Corebridge Financial Stock Performance

CRBG traded up $1.76 during trading on Thursday, hitting $34.83. 4,099,772 shares of the company traded hands, compared to its average volume of 3,248,914. Corebridge Financial has a one year low of $23.69 and a one year high of $35.47. The stock's fifty day moving average is $31.60 and its 200 day moving average is $31.36. The firm has a market cap of $19.14 billion, a P/E ratio of 29.53, a price-to-earnings-growth ratio of 0.54 and a beta of 1.04. The company has a quick ratio of 0.14, a current ratio of 0.14 and a debt-to-equity ratio of 0.96.

Corebridge Financial (NYSE:CRBG - Get Free Report) last released its quarterly earnings data on Monday, May 5th. The company reported $1.16 EPS for the quarter, beating the consensus estimate of $1.15 by $0.01. Corebridge Financial had a net margin of 3.73% and a return on equity of 22.19%. The business had revenue of $4.74 billion for the quarter, compared to the consensus estimate of $5.28 billion. During the same period in the prior year, the firm earned $1.10 earnings per share. As a group, equities analysts predict that Corebridge Financial will post 5.43 EPS for the current fiscal year.

Hedge Funds Weigh In On Corebridge Financial

A number of hedge funds have recently bought and sold shares of CRBG. New York Life Investment Management LLC bought a new stake in Corebridge Financial in the 4th quarter worth about $781,000. Merit Financial Group LLC bought a new position in shares of Corebridge Financial in the 1st quarter worth approximately $832,000. Raymond James Financial Inc. bought a new stake in Corebridge Financial during the fourth quarter valued at approximately $31,844,000. US Bancorp DE increased its holdings in Corebridge Financial by 7,525.1% during the fourth quarter. US Bancorp DE now owns 21,579 shares of the company's stock valued at $646,000 after buying an additional 21,296 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Corebridge Financial by 88.1% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 96,872 shares of the company's stock worth $2,899,000 after acquiring an additional 45,363 shares during the period. Institutional investors own 98.25% of the company's stock.

Corebridge Financial Company Profile

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.

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