Wall Street Zen Upgrades Corebridge Financial (NYSE:CRBG) to "Hold"

Corebridge Financial (NYSE:CRBG - Get Free Report) was upgraded by investment analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a research report issued to clients and investors on Saturday.

Several other equities research analysts also recently weighed in on CRBG. Barclays raised their price target on Corebridge Financial from $38.00 to $45.00 and gave the stock an "overweight" rating in a report on Thursday, June 26th. Piper Sandler increased their price objective on shares of Corebridge Financial from $38.00 to $40.00 and gave the company an "overweight" rating in a research report on Thursday. BMO Capital Markets lifted their target price on shares of Corebridge Financial from $43.00 to $44.00 and gave the stock an "outperform" rating in a research note on Friday, June 27th. Keefe, Bruyette & Woods upped their price target on shares of Corebridge Financial from $37.00 to $39.00 and gave the company an "outperform" rating in a research note on Wednesday, May 7th. Finally, UBS Group cut shares of Corebridge Financial from a "buy" rating to a "sell" rating and decreased their price target for the stock from $40.00 to $28.00 in a report on Wednesday, April 2nd. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $38.64.

Corebridge Financial Price Performance

NYSE CRBG opened at $35.78 on Friday. The firm's fifty day simple moving average is $32.60 and its two-hundred day simple moving average is $31.61. The firm has a market capitalization of $19.67 billion, a P/E ratio of 30.32, a P/E/G ratio of 0.59 and a beta of 1.06. The company has a current ratio of 0.14, a quick ratio of 0.14 and a debt-to-equity ratio of 0.96. Corebridge Financial has a 12-month low of $23.69 and a 12-month high of $36.08.

Corebridge Financial (NYSE:CRBG - Get Free Report) last posted its quarterly earnings data on Monday, May 5th. The company reported $1.16 earnings per share for the quarter, topping analysts' consensus estimates of $1.15 by $0.01. Corebridge Financial had a return on equity of 22.19% and a net margin of 3.73%. The firm had revenue of $4.74 billion during the quarter, compared to analysts' expectations of $5.28 billion. During the same quarter last year, the firm earned $1.10 EPS. Analysts forecast that Corebridge Financial will post 5.43 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CRBG. Norges Bank acquired a new stake in Corebridge Financial during the 4th quarter worth about $283,212,000. Price T Rowe Associates Inc. MD boosted its stake in shares of Corebridge Financial by 31.2% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 32,961,533 shares of the company's stock worth $986,539,000 after buying an additional 7,828,929 shares during the last quarter. Wellington Management Group LLP boosted its stake in shares of Corebridge Financial by 4,624.2% in the fourth quarter. Wellington Management Group LLP now owns 3,707,960 shares of the company's stock worth $110,979,000 after buying an additional 3,629,472 shares during the last quarter. Pzena Investment Management LLC grew its holdings in Corebridge Financial by 73.6% during the first quarter. Pzena Investment Management LLC now owns 8,050,602 shares of the company's stock worth $254,158,000 after acquiring an additional 3,412,147 shares during the period. Finally, Nuveen LLC purchased a new position in Corebridge Financial during the first quarter valued at approximately $100,404,000. 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.

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