Corebridge Financial (NYSE:CRBG) Price Target Raised to $44.00

Corebridge Financial (NYSE:CRBG - Get Free Report) had its price target raised by equities researchers at BMO Capital Markets from $43.00 to $44.00 in a research note issued on Friday,Benzinga reports. The firm presently has an "outperform" rating on the stock. BMO Capital Markets' price objective suggests a potential upside of 23.84% from the stock's previous close.

A number of other equities analysts have also recently issued reports on CRBG. UBS Group cut shares of Corebridge Financial from a "buy" rating to a "sell" rating and dropped their price objective for the company from $40.00 to $28.00 in a research note on Wednesday, April 2nd. Wall Street Zen raised Corebridge Financial from a "sell" rating to a "hold" rating in a report on Friday, June 6th. Keefe, Bruyette & Woods lifted their price objective on Corebridge Financial from $37.00 to $39.00 and gave the company an "outperform" rating in a report on Wednesday, May 7th. Morgan Stanley upped their price target on shares of Corebridge Financial from $37.00 to $40.00 and gave the stock an "overweight" rating in a research report on Friday. Finally, Barclays raised their price objective on shares of Corebridge Financial from $38.00 to $45.00 and gave the company an "overweight" rating in a research note on Thursday. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and eleven have given a buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $37.85.

Corebridge Financial Stock Performance

CRBG traded up $0.53 on Friday, hitting $35.53. 1,002,885 shares of the stock traded hands, compared to its average volume of 3,136,897. The business has a fifty day moving average price of $31.75 and a two-hundred day moving average price of $31.39. The company has a current ratio of 0.14, a quick ratio of 0.14 and a debt-to-equity ratio of 0.96. The firm has a market capitalization of $19.53 billion, a PE ratio of 30.11, a P/E/G ratio of 0.53 and a beta of 1.04. Corebridge Financial has a 52 week low of $23.69 and a 52 week high of $35.70.

Corebridge Financial (NYSE:CRBG - Get Free Report) last released its quarterly earnings data on Monday, May 5th. The company reported $1.16 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 previous year, the business posted $1.10 earnings per share. On average, research analysts predict that Corebridge Financial will post 5.43 EPS for the current fiscal year.

Institutional Trading of Corebridge Financial

Institutional investors and hedge funds have recently bought and sold shares of the stock. Swedbank AB raised its position in Corebridge Financial by 55.0% during the first quarter. Swedbank AB now owns 309,746 shares of the company's stock worth $9,779,000 after acquiring an additional 109,939 shares in the last quarter. Rhumbline Advisers boosted its stake in shares of Corebridge Financial by 0.4% during the 1st quarter. Rhumbline Advisers now owns 307,352 shares of the company's stock worth $9,703,000 after acquiring an additional 1,215 shares during the period. Strs Ohio acquired a new position in shares of Corebridge Financial during the 1st quarter worth approximately $1,823,000. Focus Partners Wealth bought a new stake in Corebridge Financial in the 1st quarter valued at $384,000. Finally, Woodline Partners LP acquired a new stake in Corebridge Financial during the 1st quarter valued at $4,908,000. 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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