Corebridge Financial (NYSE:CRBG) Given New $43.00 Price Target at Keefe, Bruyette & Woods

Corebridge Financial (NYSE:CRBG) had its price objective raised by research analysts at Keefe, Bruyette & Woods from $40.00 to $43.00 in a report issued on Tuesday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Keefe, Bruyette & Woods’ price target indicates a potential upside of 25.22% from the stock’s current price.

Several other analysts have also commented on the company. Piper Sandler boosted their price target on Corebridge Financial from $31.00 to $36.00 and gave the company an “overweight” rating in a research note on Wednesday, July 15th. Zacks Research raised shares of Corebridge Financial from a “strong sell” rating to a “hold” rating in a report on Monday, June 22nd. JPMorgan Chase & Co. dropped their target price on shares of Corebridge Financial from $37.00 to $36.00 and set a “neutral” rating for the company in a research report on Tuesday, May 12th. UBS Group boosted their price target on shares of Corebridge Financial from $29.00 to $32.00 and gave the company a “neutral” rating in a research report on Wednesday, July 8th. Finally, Mizuho raised their price objective on shares of Corebridge Financial from $35.00 to $36.00 and gave the stock an “outperform” rating in a report on Thursday, July 9th. Nine investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat.com, Corebridge Financial currently has an average rating of “Moderate Buy” and an average target price of $37.00.

Corebridge Financial Stock Up 2.0%

Shares of CRBG opened at $34.34 on Tuesday. The stock has a market cap of $15.31 billion, a price-to-earnings ratio of 20.08, a P/E/G ratio of 0.44 and a beta of 1.08. The company has a quick ratio of 0.12, a current ratio of 0.12 and a debt-to-equity ratio of 0.14. Corebridge Financial has a 12 month low of $22.19 and a 12 month high of $35.22. The company has a 50-day moving average price of $30.07 and a two-hundred day moving average price of $28.08.

Corebridge Financial (NYSE:CRBG) last released its quarterly earnings data on Tuesday, August 4th. The company reported $1.12 earnings per share for the quarter, beating analysts’ consensus estimates of $1.08 by $0.04. Corebridge Financial had a return on equity of 17.37% and a net margin of 4.37%.The company had revenue of $4.30 billion for the quarter, compared to the consensus estimate of $4.66 billion. During the same period in the previous year, the business earned $1.36 earnings per share. Equities analysts predict that Corebridge Financial will post 4.55 EPS for the current fiscal year.

Insiders Place Their Bets

In other Corebridge Financial news, insider David Ditillo sold 12,414 shares of the company’s stock in a transaction on Thursday, August 6th. The stock was sold at an average price of $34.00, for a total transaction of $422,076.00. Following the transaction, the insider owned 111,153 shares of the company’s stock, valued at approximately $3,779,202. This represents a 10.05% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.32% of the stock is owned by company insiders.

Institutional Investors Weigh In On Corebridge Financial

A number of institutional investors and hedge funds have recently made changes to their positions in CRBG. Bank of Nova Scotia boosted its holdings in Corebridge Financial by 3.8% in the second quarter. Bank of Nova Scotia now owns 9,328 shares of the company’s stock valued at $331,000 after acquiring an additional 340 shares during the last quarter. Integrated Wealth Concepts LLC lifted its position in Corebridge Financial by 2.5% during the 3rd quarter. Integrated Wealth Concepts LLC now owns 15,424 shares of the company’s stock valued at $494,000 after purchasing an additional 383 shares during the period. Van ECK Associates Corp lifted its position in Corebridge Financial by 10.2% during the 4th quarter. Van ECK Associates Corp now owns 4,684 shares of the company’s stock valued at $141,000 after purchasing an additional 435 shares during the period. Empowered Funds LLC boosted its stake in shares of Corebridge Financial by 7.1% in the 4th quarter. Empowered Funds LLC now owns 7,042 shares of the company’s stock valued at $212,000 after purchasing an additional 465 shares during the last quarter. Finally, Assetmark Inc. grew its position in shares of Corebridge Financial by 35.0% during the 4th quarter. Assetmark Inc. now owns 1,877 shares of the company’s stock worth $57,000 after buying an additional 487 shares during the period. Institutional investors own 98.25% of the company’s stock.

Corebridge Financial Company Profile

Corebridge Financial (NYSE: CRBG) is a publicly traded provider of retirement, life insurance and asset management solutions. Formed from the separation of American International Group’s life and retirement operations, Corebridge focuses on helping individuals, employers and institutions manage retirement income, protect against longevity and mortality risks, and invest long-term savings. The company operates under a unified brand that brings together insurance products and investment capabilities to deliver integrated financial solutions.

Corebridge’s product suite includes retirement income and annuity products, individual and group life insurance, asset management and investment advisory services, and employer-sponsored retirement plan offerings.