Corebridge Financial (NYSE:CRBG) PT Raised to $35.00 at Piper Sandler

Corebridge Financial (NYSE:CRBG) had its price target increased by analysts at Piper Sandler from $34.00 to $35.00 in a report issued on Monday, Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Piper Sandler’s price objective points to a potential upside of 16.53% from the stock’s previous close.

A number of other brokerages also recently commented on CRBG. Wells Fargo & Company increased their price objective on Corebridge Financial from $30.00 to $33.00 and gave the company an “overweight” rating in a research report on Thursday, April 11th. Morgan Stanley upped their price objective on shares of Corebridge Financial from $26.00 to $28.00 and gave the company an “equal weight” rating in a research note on Monday, April 15th. Royal Bank of Canada reissued an “outperform” rating and issued a $32.00 target price on shares of Corebridge Financial in a research report on Friday, April 12th. Keefe, Bruyette & Woods lifted their price objective on shares of Corebridge Financial from $35.00 to $38.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 10th. Finally, UBS Group boosted their target price on shares of Corebridge Financial from $22.00 to $28.00 and gave the company a “buy” rating in a research note on Wednesday, January 10th. Three equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $29.17.

Corebridge Financial Price Performance

NYSE:CRBG opened at $30.04 on Monday. Corebridge Financial has a 52-week low of $16.13 and a 52-week high of $30.04. The company has a quick ratio of 0.14, a current ratio of 0.14 and a debt-to-equity ratio of 0.92. The firm has a market cap of $18.70 billion, a P/E ratio of 7.90, a PEG ratio of 0.33 and a beta of 0.96. The business’s 50-day moving average price is $26.71 and its 200 day moving average price is $23.77.

Corebridge Financial (NYSE:CRBG) last announced its quarterly earnings data on Friday, May 3rd. The company reported $1.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.05 by $0.05. Corebridge Financial had a net margin of 11.25% and a return on equity of 24.31%. The company had revenue of $5.85 billion for the quarter, compared to analysts’ expectations of $5.50 billion. During the same quarter in the previous year, the company posted $0.97 EPS. As a group, sell-side analysts predict that Corebridge Financial will post 4.82 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Corebridge Financial

Large investors have recently made changes to their positions in the company. Riverview Trust Co bought a new stake in Corebridge Financial in the first quarter worth approximately $25,000. EverSource Wealth Advisors LLC bought a new stake in Corebridge Financial in the third quarter worth $28,000. Vestor Capital LLC acquired a new position in Corebridge Financial during the fourth quarter worth $43,000. Cullen Frost Bankers Inc. bought a new position in Corebridge Financial during the third quarter valued at about $55,000. Finally, Headlands Technologies LLC acquired a new stake in shares of Corebridge Financial in the fourth quarter worth about $65,000. Institutional investors 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.