Corebridge Financial (NYSE:CRBG) Price Target Raised to $38.00

Corebridge Financial (NYSE:CRBG - Get Free Report) had its price target increased by stock analysts at Keefe, Bruyette & Woods from $35.00 to $38.00 in a research note issued on Wednesday, Benzinga reports. The brokerage presently has an "outperform" rating on the stock. Keefe, Bruyette & Woods' target price suggests a potential upside of 38.91% from the company's previous close.

Other analysts also recently issued reports about the company. The Goldman Sachs Group raised their target price on Corebridge Financial from $27.00 to $31.00 and gave the company a "buy" rating in a research note on Tuesday, January 9th. Royal Bank of Canada raised their target price on Corebridge Financial from $25.00 to $28.00 and gave the company an "outperform" rating in a research note on Friday, February 16th. UBS Group raised their price target on shares of Corebridge Financial from $22.00 to $28.00 and gave the company a "buy" rating in a research report on Wednesday, January 10th. Piper Sandler raised their price target on shares of Corebridge Financial from $30.00 to $34.00 and gave the company an "overweight" rating in a research report on Friday, April 5th. Finally, Wells Fargo & Company raised their price target on shares of Corebridge Financial from $28.00 to $30.00 and gave the company an "overweight" rating in a research report on Friday, February 16th. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $27.91.

Corebridge Financial Trading Up 0.5 %

NYSE CRBG traded up $0.14 on Wednesday, reaching $27.36. The company had a trading volume of 5,858,538 shares, compared to its average volume of 4,396,124. The firm has a market cap of $17.03 billion, a price-to-earnings ratio of 16.19, a P/E/G ratio of 0.33 and a beta of 0.86. Corebridge Financial has a fifty-two week low of $14.91 and a fifty-two week high of $29.40. The business has a 50 day moving average of $25.62 and a two-hundred day moving average of $22.85. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.14 and a quick ratio of 0.14.

Corebridge Financial (NYSE:CRBG - Get Free Report) last issued its quarterly earnings results on Thursday, February 15th. The company reported $1.04 earnings per share for the quarter, topping analysts' consensus estimates of $0.99 by $0.05. Corebridge Financial had a return on equity of 23.11% and a net margin of 5.92%. The firm had revenue of $5.92 billion during the quarter, compared to the consensus estimate of $5.65 billion. During the same period last year, the business posted $0.88 EPS. The business's revenue was up 11.3% compared to the same quarter last year. Analysts forecast that Corebridge Financial will post 4.87 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of CRBG. American International Group Inc. boosted its position in Corebridge Financial by 25,998,738.6% during the 4th quarter. American International Group Inc. now owns 324,205,517 shares of the company's stock valued at $7,022,291,000 after buying an additional 324,204,270 shares during the period. Norges Bank bought a new position in shares of Corebridge Financial during the fourth quarter valued at about $225,561,000. Vanguard Group Inc. boosted its holdings in shares of Corebridge Financial by 39.0% during the fourth quarter. Vanguard Group Inc. now owns 23,713,102 shares of the company's stock worth $513,626,000 after purchasing an additional 6,648,673 shares during the period. Price T Rowe Associates Inc. MD grew its stake in shares of Corebridge Financial by 63.2% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 16,048,354 shares of the company's stock worth $321,930,000 after purchasing an additional 6,216,666 shares during the last quarter. Finally, Hotchkis & Wiley Capital Management LLC increased its holdings in Corebridge Financial by 106.3% during the 4th quarter. Hotchkis & Wiley Capital Management LLC now owns 10,010,679 shares of the company's stock valued at $216,831,000 after purchasing an additional 5,157,570 shares during the period. 98.25% of the stock is currently 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.