Jefferies Financial Group Raises Corebridge Financial (NYSE:CRBG) Price Target to $45.00

Key Points

• Jefferies Financial Group raised its price target on Corebridge Financial to $45 from $43 and reiterated a buy rating, implying about 46.83% upside from the current share price.
• Other analysts were mixed: Mizuho and UBS raised targets, while Piper Sandler, Bank of America, and JPMorgan trimmed theirs. Overall, Corebridge now has a Moderate Buy consensus with an average price target of $35.92.
• Corebridge recently reported Q1 earnings of $1.05 per share, slightly below estimates, on revenue of $4.08 billion versus expectations of $5.06 billion. Despite the miss, institutional ownership remains very high at 98.25%.

Corebridge Financial (NYSE:CRBG - Get Free Report) had its target price lifted by Jefferies Financial Group from $43.00 to $45.00 in a research note issued to investors on Friday,Benzinga reports. The firm presently has a "buy" rating on the stock. Jefferies Financial Group's price objective suggests a potential upside of 46.83% from the stock's current price.

A number of other analysts also recently commented on the company. Mizuho raised their price objective on Corebridge Financial from $35.00 to $36.00 and gave the stock an "outperform" rating in a research report on Thursday. Piper Sandler cut their target price on Corebridge Financial from $35.00 to $31.00 and set an "overweight" rating for the company in a research note on Tuesday, May 26th. Bank of America reduced their target price on Corebridge Financial from $42.00 to $40.00 and set a "buy" rating for the company in a research report on Tuesday, April 14th. JPMorgan Chase & Co. lowered their price target on shares of Corebridge Financial from $37.00 to $36.00 and set a "neutral" rating on the stock in a report on Tuesday, May 12th. Finally, UBS Group increased their price objective on shares of Corebridge Financial from $29.00 to $32.00 and gave the company a "neutral" rating in a research note on Wednesday. Nine research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat, Corebridge Financial presently has a consensus rating of "Moderate Buy" and an average price target of $35.92.

Corebridge Financial Stock Performance

NYSE:CRBG opened at $30.65 on Friday. The firm's 50-day moving average is $28.01 and its 200-day moving average is $27.86. Corebridge Financial has a 52-week low of $22.19 and a 52-week high of $36.57. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.12 and a current ratio of 0.12. The company has a market cap of $13.66 billion, a price-to-earnings ratio of 55.81, a PEG ratio of 0.33 and a beta of 1.10.

Corebridge Financial (NYSE:CRBG - Get Free Report) last released its earnings results on Wednesday, May 6th. The company reported $1.05 earnings per share for the quarter, missing the consensus estimate of $1.07 by ($0.02). Corebridge Financial had a net margin of 1.20% and a return on equity of 18.44%. The company had revenue of $4.08 billion during the quarter, compared to the consensus estimate of $5.06 billion. During the same quarter in the previous year, the business posted $1.16 EPS. Equities research analysts anticipate that Corebridge Financial will post 4.75 earnings per share for the current year.

Insider Buying and Selling

In other news, insider David Ditillo sold 4,250 shares of the stock in a transaction on Monday, July 6th. The stock was sold at an average price of $30.00, for a total transaction of $127,500.00. Following the sale, the insider owned 128,153 shares in the company, valued at approximately $3,844,590. This represents a 3.21% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.29% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Community Bank N.A. bought a new stake in shares of Corebridge Financial during the third quarter valued at approximately $26,000. Salomon & Ludwin LLC lifted its holdings in Corebridge Financial by 179.7% during the 4th quarter. Salomon & Ludwin LLC now owns 828 shares of the company's stock worth $26,000 after buying an additional 532 shares in the last quarter. Rothschild Investment LLC boosted its position in Corebridge Financial by 133.3% in the 4th quarter. Rothschild Investment LLC now owns 910 shares of the company's stock valued at $27,000 after buying an additional 520 shares during the last quarter. Sonoma Allocations LLC acquired a new stake in shares of Corebridge Financial in the 1st quarter valued at $30,000. Finally, True Wealth Design LLC increased its stake in shares of Corebridge Financial by 50.2% in the 4th quarter. True Wealth Design LLC now owns 1,233 shares of the company's stock valued at $37,000 after buying an additional 412 shares during the period. Institutional investors and hedge funds own 98.25% of the company's stock.

About Corebridge Financial

Corebridge Financial NYSE: CRBG is a publicly traded provider of retirement, life insurance and asset management solutions. Formed from the separation of American International Group’s life and retirement operations, Corebridge focuses on helping individuals, employers and institutions manage retirement income, protect against longevity and mortality risks, and invest long-term savings. The company operates under a unified brand that brings together insurance products and investment capabilities to deliver integrated financial solutions.

Corebridge’s product suite includes retirement income and annuity products, individual and group life insurance, asset management and investment advisory services, and employer-sponsored retirement plan offerings.

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