Corebridge Financial (NYSE:CRBG) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

Corebridge Financial (NYSE:CRBG - Get Free Report) had its target price upped by equities researchers at JPMorgan Chase & Co. from $34.00 to $40.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm presently has a "neutral" rating on the stock. JPMorgan Chase & Co.'s price target would indicate a potential upside of 13.83% from the company's current price.

A number of other research analysts have also weighed in on the company. 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 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 report on Friday, June 27th. BMO Capital Markets lifted their price objective on Corebridge Financial from $43.00 to $44.00 and gave the company an "outperform" rating in a research note on Friday, June 27th. Wall Street Zen upgraded Corebridge Financial from a "sell" rating to a "hold" rating in a research note on Saturday. Finally, UBS Group cut Corebridge Financial from a "buy" rating to a "sell" rating and lowered their price target for the company from $40.00 to $28.00 in a report on Wednesday, April 2nd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $38.75.

Corebridge Financial Stock Performance

Shares of Corebridge Financial stock traded up $0.05 on Tuesday, reaching $35.14. 3,573,756 shares of the company traded hands, compared to its average volume of 3,274,639. Corebridge Financial has a 52 week low of $23.69 and a 52 week high of $36.21. The company has a 50 day moving average of $32.70 and a 200 day moving average of $31.68. The firm has a market capitalization of $19.32 billion, a PE ratio of 7.16, a PEG ratio of 0.58 and a beta of 1.06. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.14 and a quick ratio of 0.14.

Corebridge Financial (NYSE:CRBG - Get Free Report) last announced 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. Corebridge Financial had a return on equity of 22.19% and a net margin of 3.73%. The company had revenue of $4.74 billion during the quarter, compared to analyst estimates of $5.28 billion. During the same quarter last year, the firm posted $1.10 EPS. Equities analysts forecast that Corebridge Financial will post 5.43 earnings per share for the current year.

Institutional Trading of Corebridge Financial

Several hedge funds have recently added to or reduced their stakes in the business. EverSource Wealth Advisors LLC lifted its stake in shares of Corebridge Financial by 25.1% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,642 shares of the company's stock valued at $49,000 after acquiring an additional 329 shares during the last quarter. Whittier Trust Co. of Nevada Inc. increased its stake in Corebridge Financial by 58.4% in the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 1,147 shares of the company's stock worth $34,000 after purchasing an additional 423 shares during the period. Smartleaf Asset Management LLC lifted its position in Corebridge Financial by 112.4% in the fourth quarter. Smartleaf Asset Management LLC now owns 907 shares of the company's stock valued at $27,000 after purchasing an additional 480 shares during the last quarter. Brooklyn Investment Group boosted its stake in shares of Corebridge Financial by 66.7% during the first quarter. Brooklyn Investment Group now owns 1,452 shares of the company's stock valued at $46,000 after purchasing an additional 581 shares during the period. Finally, MetLife Investment Management LLC boosted its stake in shares of Corebridge Financial by 16.0% during the fourth quarter. MetLife Investment Management LLC now owns 5,193 shares of the company's stock valued at $155,000 after purchasing an additional 715 shares during the period. 98.25% of the stock is owned by institutional investors.

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.