TD Cowen Lowers Corebridge Financial (NYSE:CRBG) Price Target to $35.00

Key Points

• TD Cowen cut its price target for Corebridge Financial from $38 to $35 but kept a "buy" rating, with the $35 target implying roughly a 41.9% upside from the current price.
• Analyst coverage is mixed but leans positive — eight Buy vs. six Hold ratings, a consensus "Moderate Buy" and a consensus target of $37.18, while firms like UBS, Weiss, Mizuho and Wells Fargo have recently adjusted ratings and targets.
• Shares trade around $24.67 (50‑day MA $29.65, 200‑day MA $30.90) after a quarter that beat EPS ($1.22 vs. $1.11) and revenue ($6.34B vs. $5.02B); market cap is about $11.9B and the 52‑week range is $23.69–$36.57.

Corebridge Financial (NYSE:CRBG - Get Free Report) had its price objective decreased by equities researchers at TD Cowen from $38.00 to $35.00 in a research report issued on Tuesday,Benzinga reports. The brokerage presently has a "buy" rating on the stock. TD Cowen's target price would indicate a potential upside of 41.86% from the company's current price.

A number of other analysts also recently commented on CRBG. Weiss Ratings downgraded shares of Corebridge Financial from a "buy (b-)" rating to a "hold (c+)" rating in a report on Thursday, January 15th. Mizuho began coverage on Corebridge Financial in a research report on Tuesday, December 16th. They issued an "outperform" rating and a $38.00 price target on the stock. UBS Group cut their price target on Corebridge Financial from $35.00 to $33.00 and set a "neutral" rating on the stock in a research note on Thursday, January 8th. Zacks Research raised shares of Corebridge Financial from a "strong sell" rating to a "hold" rating in a research report on Friday. Finally, Wells Fargo & Company reduced their target price on shares of Corebridge Financial from $37.00 to $36.00 and set an "overweight" rating for the company in a report on Wednesday, February 25th. Eight investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat, Corebridge Financial has a consensus rating of "Moderate Buy" and a consensus target price of $37.18.

Corebridge Financial Stock Down 2.3%

Shares of Corebridge Financial stock opened at $24.67 on Tuesday. The company has a 50 day moving average of $29.65 and a 200 day moving average of $30.90. The company has a market capitalization of $11.88 billion, a P/E ratio of -46.44, a P/E/G ratio of 0.36 and a beta of 1.12. Corebridge Financial has a 52-week low of $23.69 and a 52-week high of $36.57. The company has a quick ratio of 0.12, a current ratio of 0.12 and a debt-to-equity ratio of 0.11.

Corebridge Financial (NYSE:CRBG - Get Free Report) last posted its quarterly earnings results on Monday, February 9th. The company reported $1.22 earnings per share for the quarter, topping analysts' consensus estimates of $1.11 by $0.11. The business had revenue of $6.34 billion for the quarter, compared to analysts' expectations of $5.02 billion. Corebridge Financial had a negative net margin of 1.73% and a positive return on equity of 18.92%. During the same period in the prior year, the company posted $1.06 EPS. As a group, research analysts forecast that Corebridge Financial will post 5.43 EPS for the current fiscal year.

Institutional Trading of Corebridge Financial

Institutional investors and hedge funds have recently modified their holdings of the business. Allworth Financial LP bought a new stake in Corebridge Financial in the 2nd quarter valued at $26,000. Community Bank N.A. purchased a new stake in shares of Corebridge Financial in the 3rd quarter worth $26,000. Salomon & Ludwin LLC raised its position in shares of Corebridge Financial by 179.7% in the 4th quarter. Salomon & Ludwin LLC now owns 828 shares of the company's stock worth $26,000 after acquiring an additional 532 shares in the last quarter. Smartleaf Asset Management LLC boosted its position in shares of Corebridge Financial by 83.6% in the 3rd quarter. Smartleaf Asset Management LLC now owns 828 shares of the company's stock worth $27,000 after purchasing an additional 377 shares in the last quarter. Finally, Rothschild Investment LLC boosted its holdings in shares of Corebridge Financial by 133.3% in the 4th quarter. Rothschild Investment LLC now owns 910 shares of the company's stock valued at $27,000 after acquiring an additional 520 shares during the last quarter. Institutional investors own 98.25% of the company's stock.

About Corebridge Financial

Corebridge Financial NYSE: CRBG is a publicly traded provider of retirement, life insurance and asset management solutions. Formed from the separation of American International Group’s life and retirement operations, Corebridge focuses on helping individuals, employers and institutions manage retirement income, protect against longevity and mortality risks, and invest long-term savings. The company operates under a unified brand that brings together insurance products and investment capabilities to deliver integrated financial solutions.

Corebridge’s product suite includes retirement income and annuity products, individual and group life insurance, asset management and investment advisory services, and employer-sponsored retirement plan offerings.

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