Keefe, Bruyette & Woods Increases Corebridge Financial (NYSE:CRBG) Price Target to $38.00

Corebridge Financial (NYSE:CRBG) had its price objective lifted by equities researchers at Keefe, Bruyette & Woods from $35.00 to $38.00 in a research note issued on Wednesday, Benzinga reports. The firm presently has an “outperform” rating on the stock. Keefe, Bruyette & Woods’ price target points to a potential upside of 39.25% from the stock’s current price.

A number of other equities research analysts have also recently commented on CRBG. Piper Sandler raised their price objective on shares of Corebridge Financial from $30.00 to $34.00 and gave the stock an “overweight” rating in a research note on Friday, April 5th. Royal Bank of Canada upped their price objective on shares of Corebridge Financial from $25.00 to $28.00 and gave the stock an “outperform” rating in a research report on Friday, February 16th. Wells Fargo & Company raised their target price on Corebridge Financial from $28.00 to $30.00 and gave the company an “overweight” rating in a research report on Friday, February 16th. UBS Group lifted their price target on Corebridge Financial from $22.00 to $28.00 and gave the company a “buy” rating in a research note on Wednesday, January 10th. Finally, The Goldman Sachs Group increased their price target on Corebridge Financial from $27.00 to $31.00 and gave the stock a “buy” rating in a research report on Tuesday, January 9th. Three analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, Corebridge Financial currently has a consensus rating of “Moderate Buy” and an average price target of $28.50.

Corebridge Financial Trading Down 0.3 %

NYSE CRBG opened at $27.29 on Wednesday. Corebridge Financial has a 1 year low of $14.91 and a 1 year high of $29.40. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.14 and a quick ratio of 0.14. The company has a market capitalization of $16.99 billion, a PE ratio of 16.15, a P/E/G ratio of 0.33 and a beta of 0.86. The company has a fifty day moving average of $25.76 and a 200 day moving average of $22.92.

Corebridge Financial (NYSE:CRBG) last issued its quarterly earnings data on Thursday, February 15th. The company reported $1.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.99 by $0.05. The business had revenue of $5.92 billion during the quarter, compared to analysts’ expectations of $5.65 billion. Corebridge Financial had a return on equity of 23.11% and a net margin of 5.92%. The company’s revenue for the quarter was up 11.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.88 EPS. Research analysts forecast that Corebridge Financial will post 4.87 earnings per share for the current year.

Institutional Trading of Corebridge Financial

A number of large investors have recently modified their holdings of CRBG. American International Group Inc. raised its holdings in Corebridge Financial by 25,998,738.6% in the fourth quarter. American International Group Inc. now owns 324,205,517 shares of the company’s stock valued at $7,022,291,000 after acquiring an additional 324,204,270 shares in the last quarter. Capital Research Global Investors raised its holdings in shares of Corebridge Financial by 6.5% in the 4th quarter. Capital Research Global Investors now owns 30,781,806 shares of the company’s stock valued at $666,734,000 after purchasing an additional 1,865,841 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Corebridge Financial by 39.0% during the 4th quarter. Vanguard Group Inc. now owns 23,713,102 shares of the company’s stock worth $513,626,000 after purchasing an additional 6,648,673 shares during the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of Corebridge Financial by 16.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 18,725,378 shares of the company’s stock worth $299,982,000 after purchasing an additional 2,677,024 shares in the last quarter. Finally, Norges Bank purchased a new position in Corebridge Financial in the fourth quarter valued at $225,561,000. Hedge funds and other institutional investors own 98.25% of the company’s stock.

About Corebridge Financial

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.