Corebridge Financial (NYSE:CRBG - Get Free Report) had its price objective increased by equities researchers at Piper Sandler from $35.00 to $38.00 in a report issued on Wednesday,Benzinga reports. The brokerage presently has an "overweight" rating on the stock. Piper Sandler's target price points to a potential upside of 52.88% from the company's previous close.
Other equities research analysts have also issued research reports about the company. Barclays raised Corebridge Financial from an "equal weight" rating to an "overweight" rating and set a $37.00 target price for the company in a research note on Monday, January 6th. Wells Fargo & Company lifted their price objective on Corebridge Financial from $35.00 to $38.00 and gave the stock an "overweight" rating in a research report on Wednesday, February 19th. Morgan Stanley raised shares of Corebridge Financial from an "equal weight" rating to an "overweight" rating and boosted their price objective for the company from $35.00 to $43.00 in a research report on Friday, February 28th. Deutsche Bank Aktiengesellschaft raised shares of Corebridge Financial from a "hold" rating to a "buy" rating and lifted their target price for the company from $33.00 to $40.00 in a research note on Friday, January 10th. Finally, BMO Capital Markets initiated coverage on shares of Corebridge Financial in a report on Thursday, January 23rd. They issued an "outperform" rating and a $43.00 price objective for the company. One analyst has rated the stock with a sell rating, two have issued a hold rating and twelve have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $37.00.
Read Our Latest Analysis on CRBG
Corebridge Financial Price Performance
Shares of NYSE CRBG traded down $0.85 during mid-day trading on Wednesday, reaching $24.86. 1,394,429 shares of the company were exchanged, compared to its average volume of 3,547,562. The stock has a market capitalization of $13.82 billion, a PE ratio of 6.59, a PEG ratio of 0.43 and a beta of 0.98. The company has a quick ratio of 0.13, a current ratio of 0.13 and a debt-to-equity ratio of 0.16. Corebridge Financial has a 52 week low of $23.79 and a 52 week high of $35.36. The company's 50 day moving average price is $32.48 and its 200 day moving average price is $31.35.
Corebridge Financial (NYSE:CRBG - Get Free Report) last posted its quarterly earnings data on Wednesday, February 12th. The company reported $1.23 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.27 by ($0.04). Corebridge Financial had a return on equity of 22.69% and a net margin of 11.39%. Sell-side analysts forecast that Corebridge Financial will post 5.43 earnings per share for the current fiscal year.
Institutional Investors Weigh In On Corebridge Financial
Large investors have recently added to or reduced their stakes in the stock. Nippon Life Insurance Co. purchased a new position in shares of Corebridge Financial in the fourth quarter worth approximately $3,650,151,000. Norges Bank bought a new position in shares of Corebridge Financial in the fourth quarter worth about $283,212,000. Price T Rowe Associates Inc. MD grew its position in shares of Corebridge Financial by 31.2% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 32,961,533 shares of the company's stock valued at $986,539,000 after purchasing an additional 7,828,929 shares in the last quarter. Wellington Management Group LLP lifted its position in Corebridge Financial by 4,624.2% during the fourth quarter. Wellington Management Group LLP now owns 3,707,960 shares of the company's stock valued at $110,979,000 after purchasing an additional 3,629,472 shares during the last quarter. Finally, Pzena Investment Management LLC increased its position in shares of Corebridge Financial by 222.9% during the 4th quarter. Pzena Investment Management LLC now owns 4,638,455 shares of the company's stock valued at $138,829,000 after purchasing an additional 3,202,145 shares during the last quarter. Institutional investors own 98.25% of the company's stock.
About Corebridge Financial
(
Get Free Report)
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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