Corebridge Financial (NYSE:CRBG) Price Target Raised to $34.00

Corebridge Financial (NYSE:CRBG - Get Free Report) had its price target upped by research analysts at Wells Fargo & Company from $33.00 to $34.00 in a report released on Friday, Benzinga reports. The firm presently has an "overweight" rating on the stock. Wells Fargo & Company's target price points to a potential upside of 15.06% from the stock's previous close.

CRBG has been the subject of a number of other research reports. Evercore ISI raised their price target on shares of Corebridge Financial from $30.00 to $32.00 and gave the stock an "outperform" rating in a report on Thursday, April 11th. Royal Bank of Canada reiterated an "outperform" rating and set a $32.00 price target on shares of Corebridge Financial in a report on Friday, April 12th. Morgan Stanley boosted their price objective on shares of Corebridge Financial from $26.00 to $28.00 and gave the company an "equal weight" rating in a report on Monday, April 15th. Keefe, Bruyette & Woods increased their target price on shares of Corebridge Financial from $35.00 to $38.00 and gave the stock an "outperform" rating in a research note on Wednesday, April 10th. Finally, Piper Sandler boosted their price target on shares of Corebridge Financial from $34.00 to $35.00 and gave the company an "overweight" rating in a research note on Monday. Three research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, Corebridge Financial presently has a consensus rating of "Moderate Buy" and a consensus target price of $29.25.

Corebridge Financial Price Performance

Shares of NYSE:CRBG traded down $0.70 during trading on Friday, reaching $29.55. The stock had a trading volume of 3,408,425 shares, compared to its average volume of 4,259,794. 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 business has a fifty day moving average price of $27.05 and a 200-day moving average price of $23.93. The stock has a market cap of $18.40 billion, a PE ratio of 7.89, a PEG ratio of 0.33 and a beta of 0.96. Corebridge Financial has a 1-year low of $16.13 and a 1-year high of $30.98.

Corebridge Financial (NYSE:CRBG - Get Free Report) last announced its quarterly earnings results on Friday, May 3rd. The company reported $1.10 earnings per share for the quarter, beating the consensus estimate of $1.05 by $0.05. Corebridge Financial had a net margin of 11.25% and a return on equity of 24.31%. The firm had revenue of $5.85 billion for the quarter, compared to analysts' expectations of $5.50 billion. During the same quarter in the previous year, the company posted $0.97 EPS. On average, equities analysts forecast that Corebridge Financial will post 4.82 earnings per share for the current fiscal year.

Institutional Trading of Corebridge Financial

A number of large investors have recently made changes to their positions in CRBG. American International Group Inc. increased its stake in shares of Corebridge Financial by 25,998,738.6% during the fourth quarter. American International Group Inc. now owns 324,205,517 shares of the company's stock worth $7,022,291,000 after buying an additional 324,204,270 shares during the period. Norges Bank purchased a new stake in shares of Corebridge Financial during the fourth quarter worth approximately $225,561,000. Vanguard Group Inc. increased its stake 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 buying an additional 6,648,673 shares during the period. Hotchkis & Wiley Capital Management LLC increased its stake in shares of Corebridge Financial by 106.3% during the fourth quarter. Hotchkis & Wiley Capital Management LLC now owns 10,010,679 shares of the company's stock worth $216,831,000 after buying an additional 5,157,570 shares during the period. Finally, Balyasny Asset Management L.P. purchased a new stake in shares of Corebridge Financial during the fourth quarter worth approximately $105,728,000. 98.25% of the stock is currently owned by hedge funds and other 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.