Analysts Set Corebridge Financial, Inc. (NYSE:CRBG) Price Target at $36.43

Shares of Corebridge Financial, Inc. (NYSE:CRBG) have earned an average rating of “Moderate Buy” from the fifteen ratings firms that are presently covering the company, MarketBeat.com reports. Three research analysts have rated the stock with a hold rating and twelve have issued a buy rating on the company. The average 12 month target price among brokerages that have covered the stock in the last year is $36.43.

Several equities analysts have commented on CRBG shares. BMO Capital Markets started coverage on Corebridge Financial in a research report on Thursday, January 23rd. They issued an “outperform” rating and a $43.00 target price for the company. Piper Sandler raised their price objective on shares of Corebridge Financial from $34.00 to $35.00 and gave the company an “overweight” rating in a report on Wednesday, December 18th. Morgan Stanley boosted their target price on shares of Corebridge Financial from $31.00 to $34.00 and gave the stock an “equal weight” rating in a report on Tuesday, November 5th. DOWLING & PARTN downgraded shares of Corebridge Financial from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 26th. Finally, TD Cowen lifted their price target on shares of Corebridge Financial from $35.00 to $37.00 and gave the stock a “buy” rating in a report on Wednesday, November 27th.

Corebridge Financial Trading Down 1.1 %

CRBG opened at $32.77 on Thursday. The company has a market cap of $18.64 billion, a P/E ratio of -15.68, a PEG ratio of 0.37 and a beta of 0.94. The company has a current ratio of 0.14, a quick ratio of 0.14 and a debt-to-equity ratio of 0.83. The company’s 50 day moving average is $31.40 and its 200-day moving average is $30.13. Corebridge Financial has a 1-year low of $23.34 and a 1-year high of $34.66.

Corebridge Financial (NYSE:CRBG) last issued its earnings results on Wednesday, February 12th. The company reported $1.23 earnings per share for the quarter, missing analysts’ consensus estimates of $1.27 by ($0.04). Corebridge Financial had a negative net margin of 6.10% and a positive return on equity of 22.24%. Equities research analysts predict that Corebridge Financial will post 4.8 earnings per share for the current fiscal year.

Insider Activity

In other news, major shareholder International Group American sold 121,956,256 shares of Corebridge Financial stock in a transaction on Monday, December 9th. The shares were sold at an average price of $31.47, for a total value of $3,837,963,376.32. Following the completion of the sale, the insider now owns 127,282,642 shares in the company, valued at $4,005,584,743.74. The trade was a 48.93 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.08% of the stock is owned by company insiders.

Institutional Investors Weigh In On Corebridge Financial

Several hedge funds and other institutional investors have recently bought and sold shares of CRBG. Nippon Life Insurance Co. bought a new position in shares of Corebridge Financial in the fourth quarter valued at $3,650,151,000. Norges Bank bought a new position in Corebridge Financial in the 4th quarter valued at about $283,212,000. Wellington Management Group LLP lifted its position in Corebridge Financial by 4,624.2% in the 4th quarter. Wellington Management Group LLP now owns 3,707,960 shares of the company’s stock valued at $110,979,000 after acquiring an additional 3,629,472 shares in the last quarter. Pzena Investment Management LLC boosted its stake in 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. Finally, Raymond James Financial Inc. bought a new stake in Corebridge Financial during the 4th quarter worth approximately $31,844,000. 98.25% of the stock is owned by institutional investors.

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.