Wells Fargo & Company Increases Corebridge Financial (NYSE:CRBG) Price Target to $33.00

Corebridge Financial (NYSE:CRBG - Get Free Report) had its price target boosted by investment analysts at Wells Fargo & Company from $30.00 to $33.00 in a research note issued to investors on Thursday, Benzinga reports. The firm currently has an "overweight" rating on the stock. Wells Fargo & Company's target price indicates a potential upside of 20.92% from the stock's current price.

A number of other brokerages also recently issued reports on CRBG. The Goldman Sachs Group raised their price objective on Corebridge Financial from $27.00 to $31.00 and gave the stock a "buy" rating in a research report on Tuesday, January 9th. Keefe, Bruyette & Woods raised their target price on Corebridge Financial from $35.00 to $38.00 and gave the stock an "outperform" rating in a research note on Wednesday. Royal Bank of Canada raised their target price on Corebridge Financial from $25.00 to $28.00 and gave the stock an "outperform" rating in a research note on Friday, February 16th. UBS Group raised their target price on Corebridge Financial from $22.00 to $28.00 and gave the stock a "buy" rating in a research note on Wednesday, January 10th. Finally, Piper Sandler raised their target price on Corebridge Financial from $30.00 to $34.00 and gave the stock an "overweight" rating in a research note on Friday, April 5th. Three investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $28.50.

Corebridge Financial Trading Down 0.3 %

Shares of CRBG traded down $0.07 during mid-day trading on Thursday, reaching $27.29. 3,378,082 shares of the company were exchanged, compared to its average volume of 4,381,580. Corebridge Financial has a 52 week low of $14.91 and a 52 week high of $29.40. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.14 and a current ratio of 0.14. The stock has a market capitalization of $16.99 billion, a PE ratio of 16.01, a PEG ratio of 0.33 and a beta of 0.86. The business has a 50 day simple moving average of $25.68 and a two-hundred day simple moving average of $22.89.

Corebridge Financial (NYSE:CRBG - Get Free Report) last issued its quarterly earnings data on Thursday, February 15th. The company reported $1.04 earnings per share (EPS) 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 company 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 company earned $0.88 earnings per share. The firm's revenue was up 11.3% compared to the same quarter last year. On average, analysts predict that Corebridge Financial will post 4.87 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the stock. Gulf International Bank UK Ltd bought a new position in shares of Corebridge Financial in the first quarter valued at approximately $913,000. Park Avenue Securities LLC bought a new position in shares of Corebridge Financial in the first quarter valued at approximately $284,000. Renaissance Capital LLC lifted its holdings in shares of Corebridge Financial by 2.0% in the first quarter. Renaissance Capital LLC now owns 148,948 shares of the company's stock valued at $4,279,000 after purchasing an additional 2,865 shares in the last quarter. Quadrature Capital Ltd lifted its holdings in shares of Corebridge Financial by 89.1% in the fourth quarter. Quadrature Capital Ltd now owns 82,815 shares of the company's stock valued at $1,794,000 after purchasing an additional 39,021 shares in the last quarter. Finally, Vanguard Group Inc. lifted its holdings in shares of Corebridge Financial by 39.0% in the fourth quarter. Vanguard Group Inc. now owns 23,713,102 shares of the company's stock valued at $513,626,000 after purchasing an additional 6,648,673 shares in the last quarter. 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.