Corebridge Financial (NYSE:CRBG) Given New $40.00 Price Target at Morgan Stanley

Corebridge Financial (NYSE:CRBG - Get Free Report) had its price objective upped by equities researchers at Morgan Stanley from $37.00 to $40.00 in a report released on Friday,Benzinga reports. The brokerage presently has an "overweight" rating on the stock. Morgan Stanley's price target indicates a potential upside of 12.77% from the stock's previous close.

A number of other brokerages have also recently commented on CRBG. Wall Street Zen raised shares of Corebridge Financial from a "sell" rating to a "hold" rating in a research note on Friday, June 6th. Keefe, Bruyette & Woods increased their price target on shares of Corebridge Financial from $37.00 to $39.00 and gave the company an "outperform" rating in a report on Wednesday, May 7th. Piper Sandler boosted their price objective on Corebridge Financial from $35.00 to $38.00 and gave the stock an "overweight" rating in a research note on Wednesday, April 2nd. UBS Group downgraded Corebridge Financial from a "buy" rating to a "sell" rating and decreased their price objective for the company from $40.00 to $28.00 in a research report on Wednesday, April 2nd. Finally, Barclays lifted their target price on Corebridge Financial from $38.00 to $45.00 and gave the stock an "overweight" rating in a report on Thursday. One 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 data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $37.77.

Corebridge Financial Price Performance

Corebridge Financial stock traded up $0.47 during midday trading on Friday, reaching $35.47. 701,955 shares of the stock traded hands, compared to its average volume of 3,250,200. The stock's fifty day moving average is $31.75 and its 200-day moving average is $31.39. Corebridge Financial has a 12 month low of $23.69 and a 12 month high of $35.54. The stock has a market cap of $19.50 billion, a P/E ratio of 30.07, a PEG ratio of 0.53 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 issued its quarterly earnings data on Monday, May 5th. The company reported $1.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.15 by $0.01. The business had revenue of $4.74 billion for the quarter, compared to analysts' expectations of $5.28 billion. Corebridge Financial had a return on equity of 22.19% and a net margin of 3.73%. During the same period in the prior year, the firm earned $1.10 EPS. As a group, equities research analysts anticipate that Corebridge Financial will post 5.43 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. New York Life Investment Management LLC bought a new position in Corebridge Financial in the 4th quarter worth about $781,000. Merit Financial Group LLC purchased a new stake in shares of Corebridge Financial in the first quarter valued at approximately $832,000. Raymond James Financial Inc. purchased a new stake in shares of Corebridge Financial in the fourth quarter valued at approximately $31,844,000. US Bancorp DE grew its stake in Corebridge Financial by 7,525.1% in the fourth quarter. US Bancorp DE now owns 21,579 shares of the company's stock worth $646,000 after purchasing an additional 21,296 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Corebridge Financial by 88.1% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 96,872 shares of the company's stock worth $2,899,000 after purchasing an additional 45,363 shares during the period. Hedge funds and other 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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