Analysts Set Corebridge Financial, Inc. (NYSE:CRBG) Target Price at $34.46

Shares of Corebridge Financial, Inc. (NYSE:CRBG) have been given an average rating of “Moderate Buy” by the thirteen brokerages that are presently covering the stock, MarketBeat Ratings reports. Three research analysts have rated the stock with a hold recommendation and ten have issued a buy recommendation on the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $34.46.

Several research analysts have commented on the stock. Barclays raised their price target on shares of Corebridge Financial from $33.00 to $34.00 and gave the company an “equal weight” rating in a report on Tuesday, October 8th. Piper Sandler lowered their price objective on shares of Corebridge Financial from $35.00 to $34.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 2nd. Royal Bank of Canada lowered their price target on Corebridge Financial from $33.00 to $32.00 and set an “outperform” rating on the stock in a research report on Friday, August 2nd. Bank of America decreased their price target on shares of Corebridge Financial from $40.00 to $38.00 and set a “buy” rating on the stock in a research note on Thursday, July 11th. Finally, UBS Group upped their price target on shares of Corebridge Financial from $29.00 to $35.00 and gave the company a “buy” rating in a research report on Tuesday, July 9th.

Corebridge Financial Price Performance

CRBG opened at $31.55 on Tuesday. The firm has a 50-day moving average price of $29.44 and a 200-day moving average price of $29.05. The company has a quick ratio of 0.14, a current ratio of 0.14 and a debt-to-equity ratio of 0.97. Corebridge Financial has a twelve month low of $18.83 and a twelve month high of $34.66. The company has a market capitalization of $18.68 billion, a price-to-earnings ratio of 9.83, a PEG ratio of 0.44 and a beta of 0.90.

Insider Buying and Selling at Corebridge Financial

In other Corebridge Financial news, major shareholder International Group American sold 8,032,129 shares of the firm’s stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $24.90, for a total transaction of $200,000,012.10. Following the completion of the transaction, the insider now owns 284,238,898 shares of the company’s stock, valued at approximately $7,077,548,560.20. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 0.08% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Versor Investments LP raised its position in shares of Corebridge Financial by 26.4% in the 3rd quarter. Versor Investments LP now owns 26,800 shares of the company’s stock worth $781,000 after purchasing an additional 5,600 shares during the last quarter. Jupiter Wealth Management LLC bought a new stake in shares of Corebridge Financial in the 3rd quarter worth $117,000. Intrinsic Value Partners LLC bought a new position in shares of Corebridge Financial during the third quarter valued at $712,000. Covestor Ltd increased its holdings in Corebridge Financial by 118.8% in the 3rd quarter. Covestor Ltd now owns 1,050 shares of the company’s stock worth $31,000 after buying an additional 570 shares in the last quarter. Finally, Kerusso Capital Management LLC lifted its stake in Corebridge Financial by 6.5% during the 3rd quarter. Kerusso Capital Management LLC now owns 121,755 shares of the company’s stock valued at $3,550,000 after acquiring an additional 7,385 shares during the period. 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.