Corebridge Financial (NYSE:CRBG) Price Target Raised to $27.00 at Wells Fargo & Company

Corebridge Financial (NYSE:CRBG – Get Rating) had its target price hoisted by equities researchers at Wells Fargo & Company from $25.00 to $27.00 in a research note issued on Wednesday, Benzinga reports. The firm currently has an “overweight” rating on the stock. Wells Fargo & Company‘s price target would indicate a potential upside of 33.53% from the company’s current price.

Other analysts also recently issued research reports about the company. Evercore ISI started coverage on Corebridge Financial in a research note on Monday, October 10th. They set an “outperform” rating and a $24.00 target price for the company. Morgan Stanley increased their target price on Corebridge Financial from $25.00 to $26.00 and gave the company an “equal weight” rating in a research note on Thursday, November 17th. JPMorgan Chase & Co. started coverage on Corebridge Financial in a research note on Monday, October 10th. They set a “neutral” rating and a $25.00 target price for the company. The Goldman Sachs Group started coverage on Corebridge Financial in a research note on Monday, October 10th. They set a “neutral” rating and a $23.00 target price for the company. Finally, Citigroup increased their target price on Corebridge Financial from $23.00 to $25.00 in a research note on Wednesday, November 16th. Five research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $24.82.

Corebridge Financial Price Performance

Shares of NYSE CRBG opened at $20.22 on Wednesday. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 1.66. The firm’s 50-day moving average is $20.86. Corebridge Financial has a 52 week low of $18.81 and a 52 week high of $23.50.

Corebridge Financial (NYSE:CRBG – Get Rating) last issued its quarterly earnings data on Wednesday, November 9th. The company reported $0.57 EPS for the quarter, beating analysts’ consensus estimates of $0.52 by $0.05. The company had revenue of $4.31 billion for the quarter, compared to analyst estimates of $4.03 billion. Equities analysts forecast that Corebridge Financial will post 2.72 earnings per share for the current year.

Insider Transactions at Corebridge Financial

In related news, Director Alan B. Colberg bought 30,000 shares of the company’s stock in a transaction dated Thursday, November 10th. The stock was acquired at an average cost of $22.92 per share, with a total value of $687,600.00. Following the acquisition, the director now owns 37,858 shares in the company, valued at approximately $867,705.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Hedge Funds Weigh In On Corebridge Financial

A number of hedge funds have recently modified their holdings of the stock. Renaissance Capital LLC acquired a new position in shares of Corebridge Financial in the 4th quarter worth approximately $589,000. Weiss Asset Management LP acquired a new position in shares of Corebridge Financial in the 3rd quarter worth approximately $1,012,000. Balyasny Asset Management LLC acquired a new stake in Corebridge Financial during the 3rd quarter valued at $72,898,000. Jane Street Group LLC acquired a new stake in Corebridge Financial during the 3rd quarter valued at $92,335,000. Finally, Sandia Investment Management LP acquired a new stake in Corebridge Financial during the 3rd quarter valued at $1,181,000. 22.16% of the stock is owned by institutional investors and hedge funds.

Corebridge Financial Company Profile

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Corebridge Financial, Inc provides retirement solutions and insurance products in the United States. It 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.