Corebridge Financial (NYSE:CRBG) Now Covered by Analysts at Barclays

Stock analysts at Barclays began coverage on shares of Corebridge Financial (NYSE:CRBG - Get Free Report) in a research report issued on Wednesday, Benzinga reports. The firm set an "equal weight" rating and a $33.00 price target on the stock. Barclays's price objective indicates a potential upside of 15.87% from the stock's current price.

CRBG has been the subject of several other reports. Royal Bank of Canada cut their price target on Corebridge Financial from $33.00 to $32.00 and set an "outperform" rating for the company in a research note on Friday, August 2nd. UBS Group boosted their price target on Corebridge Financial from $29.00 to $35.00 and gave the company a "buy" rating in a research note on Tuesday, July 9th. Morgan Stanley cut their price target on Corebridge Financial from $33.00 to $31.00 and set an "equal weight" rating for the company in a research note on Monday, August 19th. Wells Fargo & Company upped their target price on Corebridge Financial from $33.00 to $34.00 and gave the stock an "overweight" rating in a research note on Friday, May 10th. Finally, Bank of America cut their target price on Corebridge Financial from $40.00 to $38.00 and set a "buy" rating for the company in a research note on Thursday, July 11th. Four analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, Corebridge Financial currently has an average rating of "Moderate Buy" and a consensus price target of $33.62.

Corebridge Financial Stock Performance

Shares of NYSE:CRBG traded down $0.34 during trading on Wednesday, reaching $28.48. 3,397,842 shares of the stock were exchanged, compared to its average volume of 4,050,203. Corebridge Financial has a 12 month low of $17.80 and a 12 month high of $34.66. The firm has a market cap of $17.33 billion, a PE ratio of 7.49, a PEG ratio of 0.39 and a beta of 0.97. The stock has a 50-day moving average price of $28.57 and a 200-day moving average price of $28.07. The company has a current ratio of 0.14, a quick ratio of 0.14 and a debt-to-equity ratio of 0.97.

Corebridge Financial (NYSE:CRBG - Get Free Report) last issued its quarterly earnings data on Thursday, August 1st. The company reported $1.13 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.09 by $0.04. Corebridge Financial had a return on equity of 23.57% and a net margin of 10.16%. The company had revenue of $4.18 billion during the quarter, compared to analysts' expectations of $5.73 billion. During the same quarter in the previous year, the company posted $1.04 earnings per share. Research analysts expect that Corebridge Financial will post 4.75 EPS for the current fiscal year.

Insider Buying and Selling at Corebridge Financial

In related news, major shareholder International Group American sold 8,032,129 shares of the firm's stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $24.90, for a total transaction of $200,000,012.10. Following the completion of the sale, the insider now owns 284,238,898 shares of the company's stock, valued at $7,077,548,560.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.09% of the company's stock.

Institutional Investors Weigh In On Corebridge Financial

Several large investors have recently added to or reduced their stakes in CRBG. Riverview Trust Co acquired a new stake in Corebridge Financial in the first quarter valued at approximately $25,000. LRI Investments LLC acquired a new stake in Corebridge Financial in the second quarter valued at approximately $30,000. ORG Partners LLC acquired a new stake in Corebridge Financial in the second quarter valued at approximately $32,000. Fifth Third Bancorp acquired a new stake in Corebridge Financial in the second quarter valued at approximately $54,000. Finally, Vestor Capital LLC acquired a new stake in Corebridge Financial in the fourth quarter valued at approximately $43,000. Institutional investors and hedge funds own 98.25% of the company's stock.

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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