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

Corebridge Financial (NYSE:CRBG) had its price objective hoisted by investment analysts at Piper Sandler from $34.00 to $35.00 in a research note issued to investors on Monday, Benzinga reports. The firm currently has an “overweight” rating on the stock. Piper Sandler’s price objective would suggest a potential upside of 19.13% from the stock’s previous close.

CRBG has been the topic of a number of other reports. The Goldman Sachs Group lifted their price objective on Corebridge Financial from $27.00 to $31.00 and gave the stock a “buy” rating in a research note on Tuesday, January 9th. Wells Fargo & Company boosted their price target on Corebridge Financial from $30.00 to $33.00 and gave the company an “overweight” rating in a research note on Thursday, April 11th. Morgan Stanley raised their price objective on shares of Corebridge Financial from $26.00 to $28.00 and gave the stock an “equal weight” rating in a research report on Monday, April 15th. Evercore ISI increased their target price on shares of Corebridge Financial from $30.00 to $32.00 and gave the stock an “outperform” rating in a research note on Thursday, April 11th. Finally, Keefe, Bruyette & Woods lifted their price target on shares of Corebridge Financial from $35.00 to $38.00 and gave the company an “outperform” rating in a research note on Wednesday, April 10th. Three equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Corebridge Financial presently has a consensus rating of “Moderate Buy” and a consensus price target of $29.17.

Corebridge Financial Trading Up 2.4 %

NYSE:CRBG traded up $0.70 during mid-day trading on Monday, hitting $29.38. 495,938 shares of the company’s stock were exchanged, compared to its average volume of 4,241,930. Corebridge Financial has a fifty-two week low of $16.13 and a fifty-two week high of $29.53. The company has a current ratio of 0.14, a quick ratio of 0.14 and a debt-to-equity ratio of 0.92. The firm has a market capitalization of $18.29 billion, a P/E ratio of 7.72, a PEG ratio of 0.33 and a beta of 0.96. The company has a 50 day simple moving average of $26.61 and a 200-day simple moving average of $23.71.

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

Institutional Investors Weigh In On Corebridge Financial

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Factory Mutual Insurance Co. increased its position in Corebridge Financial by 47.1% in the fourth quarter. Factory Mutual Insurance Co. now owns 1,028,200 shares of the company’s stock worth $22,271,000 after buying an additional 329,200 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Corebridge Financial by 10.1% during the third quarter. Vanguard Group Inc. now owns 17,064,429 shares of the company’s stock valued at $337,022,000 after buying an additional 1,566,275 shares during the period. Artemis Investment Management LLP bought a new position in shares of Corebridge Financial in the fourth quarter valued at approximately $18,378,000. IFM Investors Pty Ltd purchased a new position in Corebridge Financial during the first quarter valued at approximately $1,166,000. Finally, Charles Schwab Investment Management Inc. increased its holdings in Corebridge Financial by 90.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,382,574 shares of the company’s stock worth $27,306,000 after acquiring an additional 656,440 shares during the period. Hedge funds and other 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.