Wells Fargo & Company Has Lowered Expectations for Corebridge Financial (NYSE:CRBG) Stock Price

Key Points

• Wells Fargo & Company cut its price target for Corebridge Financial from $36 to $32 but maintained an overweight rating, implying roughly a 29.5% upside from the recent close.
• Analyst consensus remains a Moderate Buy with an average target of $35.64, even as several firms (UBS, Barclays, TD Cowen) trimmed targets and others (Mizuho) initiated or reiterated bullish coverage.
• CRBG trades around $24.71 after a quarterly beat (EPS $1.22 vs. $1.11 est.; revenue $6.34B vs. $5.02B), with a market cap of $11.9B and a 52‑week range of $22.19–$36.57, leaving potential upside if earnings momentum persists.

Corebridge Financial (NYSE:CRBG - Get Free Report) had its price objective reduced by stock analysts at Wells Fargo & Company from $36.00 to $32.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm currently has an "overweight" rating on the stock. Wells Fargo & Company's target price would suggest a potential upside of 29.52% from the stock's previous close.

A number of other equities analysts also recently commented on the stock. UBS Group reduced their price objective on shares of Corebridge Financial from $35.00 to $33.00 and set a "neutral" rating for the company in a research note on Thursday, January 8th. Barclays reduced their price objective on shares of Corebridge Financial from $33.00 to $30.00 and set an "overweight" rating for the company in a research note on Wednesday. TD Cowen reduced their price objective on shares of Corebridge Financial from $38.00 to $35.00 and set a "buy" rating for the company in a research note on Tuesday, March 10th. Mizuho started coverage on shares of Corebridge Financial in a research note on Tuesday, December 16th. They issued an "outperform" rating and a $38.00 price objective for the company. Finally, Keefe, Bruyette & Woods reissued a "moderate buy" rating and issued a $32.00 price objective on shares of Corebridge Financial in a research note on Thursday, March 26th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and six have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $35.64.

Corebridge Financial Stock Down 0.3%

NYSE CRBG traded down $0.08 on Friday, reaching $24.71. 555,640 shares of the stock traded hands, compared to its average volume of 4,395,021. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.12 and a current ratio of 0.12. The company has a fifty day moving average price of $26.61 and a 200-day moving average price of $29.36. The company has a market cap of $11.90 billion, a price-to-earnings ratio of -46.61, a PEG ratio of 0.40 and a beta of 1.12. Corebridge Financial has a 12 month low of $22.19 and a 12 month high of $36.57.

Corebridge Financial (NYSE:CRBG - Get Free Report) last issued its quarterly earnings data on Wednesday, February 11th. The company reported $1.22 EPS for the quarter, topping analysts' consensus estimates of $1.11 by $0.11. The company had revenue of $6.34 billion during the quarter, compared to the consensus estimate 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 quarter in the previous year, the firm posted $1.06 earnings per share. As a group, research analysts forecast that Corebridge Financial will post 5.43 EPS for the current fiscal year.

Institutional Investors Weigh In On Corebridge Financial

Large investors have recently made changes to their positions in the stock. Vanguard Group Inc. grew its holdings in shares of Corebridge Financial by 7.2% during the third quarter. Vanguard Group Inc. now owns 26,831,915 shares of the company's stock valued at $859,963,000 after buying an additional 1,805,819 shares during the last quarter. Algebris UK Ltd. grew its holdings in shares of Corebridge Financial by 31.4% during the third quarter. Algebris UK Ltd. now owns 1,393,378 shares of the company's stock valued at $44,624,000 after buying an additional 333,245 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Corebridge Financial by 6.9% during the third quarter. Dimensional Fund Advisors LP now owns 6,686,747 shares of the company's stock valued at $214,372,000 after buying an additional 430,308 shares during the last quarter. Machina Capital S.A.S. purchased a new stake in shares of Corebridge Financial during the third quarter valued at $1,182,000. Finally, Assenagon Asset Management S.A. grew its holdings in shares of Corebridge Financial by 928.9% during the third quarter. Assenagon Asset Management S.A. now owns 68,226 shares of the company's stock valued at $2,187,000 after buying an additional 61,595 shares during the last quarter. 98.25% of the stock is owned by hedge funds and other institutional investors.

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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