Corebridge Financial (NYSE:CRBG) Stock Rating Upgraded by Wall Street Zen

Corebridge Financial (NYSE:CRBG - Get Free Report) was upgraded by analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a research note issued to investors on Friday.

Several other brokerages have also recently weighed in on CRBG. UBS Group cut shares of Corebridge Financial from a "buy" rating to a "sell" rating and dropped their price target for the company from $40.00 to $28.00 in a research report on Wednesday, April 2nd. Wells Fargo & Company raised their target price on Corebridge Financial from $35.00 to $37.00 and gave the company an "overweight" rating in a report on Wednesday, May 7th. Morgan Stanley raised their target price on Corebridge Financial from $32.00 to $37.00 and gave the company an "overweight" rating in a report on Monday, May 19th. Keefe, Bruyette & Woods lifted their target price on Corebridge Financial from $37.00 to $39.00 and gave the company an "outperform" rating in a research report on Wednesday, May 7th. Finally, Barclays increased their price target on Corebridge Financial from $36.00 to $38.00 and gave the company an "overweight" rating in a research report on Tuesday, May 6th. One analyst has rated the stock with a sell rating, three have given a hold rating and eleven have issued a buy rating to the company's stock. According to MarketBeat, Corebridge Financial presently has an average rating of "Moderate Buy" and an average target price of $37.00.

Corebridge Financial Stock Up 1.8%

Shares of NYSE:CRBG traded up $0.59 during trading on Friday, reaching $33.33. 1,764,245 shares of the stock were exchanged, compared to its average volume of 3,285,008. Corebridge Financial has a 1-year low of $23.69 and a 1-year high of $35.36. The stock has a fifty day moving average of $30.22 and a two-hundred day moving average of $31.30. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.13 and a quick ratio of 0.13. The firm has a market cap of $18.32 billion, a price-to-earnings ratio of 8.82, a price-to-earnings-growth ratio of 0.43 and a beta of 1.04.

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 for the quarter, topping the consensus estimate of $1.15 by $0.01. The firm had revenue of $4.74 billion for the quarter, compared to the consensus estimate of $5.28 billion. Corebridge Financial had a net margin of 11.39% and a return on equity of 22.69%. During the same quarter in the prior year, the company posted $1.10 earnings per share. Research analysts anticipate that Corebridge Financial will post 5.43 earnings per share for the current fiscal year.

Institutional Trading of Corebridge Financial

A number of large investors have recently added to or reduced their stakes in the stock. New York Life Investment Management LLC purchased a new position in Corebridge Financial in the fourth quarter valued at about $781,000. Raymond James Financial Inc. bought a new stake in shares of Corebridge Financial in the 4th quarter worth approximately $31,844,000. Sumitomo Mitsui Trust Group Inc. lifted its stake in Corebridge Financial by 4.3% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 504,261 shares of the company's stock valued at $15,093,000 after purchasing an additional 20,783 shares during the last quarter. Principal Securities Inc. lifted its stake in Corebridge Financial by 557.3% in the fourth quarter. Principal Securities Inc. now owns 10,044 shares of the company's stock valued at $301,000 after purchasing an additional 8,516 shares during the last quarter. Finally, US Bancorp DE grew 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 purchasing an additional 21,296 shares during the period. 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.

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