Corebridge Financial (NYSE:CRBG) Stock Rating Reaffirmed by Royal Bank of Canada

Corebridge Financial (NYSE:CRBG - Get Free Report)'s stock had its "outperform" rating reaffirmed by equities research analysts at Royal Bank of Canada in a research report issued to clients and investors on Friday, Benzinga reports. They currently have a $32.00 target price on the stock. Royal Bank of Canada's target price would suggest a potential upside of 19.54% from the company's previous close.

A number of other equities analysts have also weighed in on the stock. The Goldman Sachs Group boosted their price target on shares of Corebridge Financial from $27.00 to $31.00 and gave the stock a "buy" rating in a research report on Tuesday, January 9th. Piper Sandler boosted their target price on shares of Corebridge Financial from $30.00 to $34.00 and gave the company an "overweight" rating in a report on Friday, April 5th. Evercore ISI boosted their target price on shares of Corebridge Financial from $30.00 to $32.00 and gave the company an "outperform" rating in a report on Thursday. Keefe, Bruyette & Woods boosted their target price on shares of Corebridge Financial from $35.00 to $38.00 and gave the company an "outperform" rating in a report on Wednesday. Finally, UBS Group boosted their target price on shares of Corebridge Financial from $22.00 to $28.00 and gave the company a "buy" rating in a report on Wednesday, January 10th. Three equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $28.83.

Corebridge Financial Stock Performance

CRBG traded down $0.52 on Friday, reaching $26.77. The stock had a trading volume of 2,849,234 shares, compared to its average volume of 4,359,996. Corebridge Financial has a 12-month low of $14.91 and a 12-month high of $29.40. The company has a current ratio of 0.14, a quick ratio of 0.14 and a debt-to-equity ratio of 0.92. The business's 50-day moving average price is $25.76 and its two-hundred day moving average price is $22.92. The company has a market cap of $16.67 billion, a P/E ratio of 15.98, a price-to-earnings-growth ratio of 0.32 and a beta of 0.86.

Corebridge Financial (NYSE:CRBG - Get Free Report) last released its earnings results on Thursday, February 15th. The company reported $1.04 EPS for the quarter, topping analysts' consensus estimates of $0.99 by $0.05. The business had revenue of $5.92 billion during the quarter, compared to analysts' expectations of $5.65 billion. Corebridge Financial had a net margin of 5.92% and a return on equity of 23.11%. The company's quarterly revenue was up 11.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.88 earnings per share. Sell-side analysts forecast that Corebridge Financial will post 4.86 earnings per share for the current year.

Institutional Investors Weigh In On Corebridge Financial

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. American International Group Inc. raised its stake in Corebridge Financial by 50.8% during the 4th quarter. American International Group Inc. now owns 1,881 shares of the company's stock worth $41,000 after acquiring an additional 634 shares in the last quarter. MetLife Investment Management LLC grew its position in Corebridge Financial by 76.4% during the 2nd quarter. MetLife Investment Management LLC now owns 2,929 shares of the company's stock worth $52,000 after purchasing an additional 1,269 shares during the last quarter. Mariner LLC grew its position in Corebridge Financial by 4.3% during the 3rd quarter. Mariner LLC now owns 33,647 shares of the company's stock worth $665,000 after purchasing an additional 1,388 shares during the last quarter. EverSource Wealth Advisors LLC purchased a new position in Corebridge Financial during the 3rd quarter worth $28,000. Finally, Advisor Group Holdings Inc. purchased a new position in Corebridge Financial during the 4th quarter worth $35,000. 98.25% of the stock is currently owned by institutional investors and hedge funds.

Corebridge Financial Company Profile

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.