Corebridge Financial (NYSE:CRBG) Price Target Raised to $36.00

Corebridge Financial (NYSE:CRBG) had its price target lifted by UBS Group from $32.00 to $36.00 in a research report report published on Tuesday morning,Benzinga reports. The brokerage currently has a neutral rating on the stock.

A number of other research analysts have also recently commented on CRBG. Weiss Ratings raised shares of Corebridge Financial from a “hold (c-)” rating to a “hold (c+)” rating in a research report on Thursday, August 6th. Mizuho raised their price target on shares of Corebridge Financial from $35.00 to $36.00 and gave the company an “outperform” rating in a report on Thursday, July 9th. Keefe, Bruyette & Woods lifted their price target on shares of Corebridge Financial from $40.00 to $43.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 11th. Piper Sandler boosted their price objective on shares of Corebridge Financial from $36.00 to $38.00 and gave the stock an “overweight” rating in a report on Wednesday, August 12th. Finally, Zacks Research raised shares of Corebridge Financial from a “strong sell” rating to a “hold” rating in a research report on Monday, June 22nd. Nine investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $38.58.

Corebridge Financial Stock Performance

Shares of NYSE:CRBG opened at $34.39 on Tuesday. The business’s 50-day simple moving average is $33.62 and its 200 day simple moving average is $29.79. The company has a market cap of $15.33 billion, a P/E ratio of 20.11, a PEG ratio of 0.44 and a beta of 1.07. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.12 and a current ratio of 0.12. Corebridge Financial has a one year low of $22.19 and a one year high of $35.64.

Corebridge Financial (NYSE:CRBG) last released its quarterly earnings results on Wednesday, August 5th. The company reported $1.12 earnings per share for the quarter, topping 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 firm had revenue of $4.30 billion during the quarter, compared to analysts’ expectations of $4.66 billion. During the same quarter in the prior year, the business earned $1.36 EPS. On average, sell-side analysts forecast that Corebridge Financial will post 4.64 earnings per share for the current fiscal year.

Corebridge Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 30th. Stockholders of record on Wednesday, September 16th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date was Wednesday, September 16th. Corebridge Financial’s payout ratio is 58.48%.

Insider Buying and Selling at Corebridge Financial

In other news, major shareholder Life Insurance Co Nippon purchased 116,345 shares of the company’s stock in a transaction that occurred on Tuesday, October 6th. The shares were acquired at an average cost of $35.23 per share, with a total value of $4,098,834.35. Following the transaction, the insider owned 126,786,106 shares in the company, valued at approximately $4,466,674,514.38. The trade was a 0.09% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In the last ninety days, insiders purchased 4,625,435 shares of company stock valued at $158,680,431 and sold 28,895 shares valued at $983,886. Company insiders own 0.32% of the company’s stock.

Hedge Funds Weigh In On Corebridge Financial

Hedge funds have recently added to or reduced their stakes in the business. Farther Finance Advisors LLC boosted its holdings in shares of Corebridge Financial by 11.8% during the third quarter. Farther Finance Advisors LLC now owns 5,583 shares of the company’s stock valued at $185,000 after acquiring an additional 590 shares during the period. Daiwa Securities Group Inc. increased its holdings in shares of Corebridge Financial by 1.0% in the 4th quarter. Daiwa Securities Group Inc. now owns 61,642 shares of the company’s stock worth $1,860,000 after acquiring an additional 633 shares during the period. CIBC Asset Management Inc increased its holdings in shares of Corebridge Financial by 3.0% in the 4th quarter. CIBC Asset Management Inc now owns 23,245 shares of the company’s stock worth $701,000 after acquiring an additional 686 shares during the period. Allworth Financial LP increased its holdings in shares of Corebridge Financial by 100.6% in the 2nd quarter. Allworth Financial LP now owns 1,444 shares of the company’s stock worth $41,000 after acquiring an additional 724 shares during the period. Finally, GAMMA Investing LLC lifted its position in Corebridge Financial by 15.8% in the 3rd quarter. GAMMA Investing LLC now owns 5,836 shares of the company’s stock valued at $193,000 after purchasing an additional 796 shares during the last quarter. Institutional investors and hedge funds own 98.25% of the company’s stock.

Corebridge Financial News Roundup

Here are the key news stories impacting Corebridge Financial this week:

• Positive Sentiment: Major shareholder continues buying. Life Insurance Co. Nippon purchased 116,345 shares at an average price of $35.23 on October 6, following purchases of 65,711 shares on October 5 and 187,155 shares on October 2. The repeated buying has increased Nippon’s direct stake to approximately 126.8 million shares and may signal confidence in CRBG’s valuation and long-term outlook. SEC ownership filing
• Positive Sentiment: Analysts raised price targets. Mizuho lifted its target from $38 to $40 and maintained an “outperform” rating, while Barclays increased its target from $33 to $39 and retained an “overweight” rating. These revisions imply additional upside and reinforce the bullish analyst view of Corebridge.
• Positive Sentiment: Recent earnings exceeded expectations. Corebridge reported quarterly adjusted earnings of $1.12 per share, above the $1.08 consensus estimate. Its dividend of $0.25 per quarter also provides an annualized yield of roughly 2.9%, adding support for income-focused investors.
• Neutral Sentiment: Analyst sentiment is favorable but not unanimous. Corebridge has a consensus “Moderate Buy” rating, although some analysts maintain neutral or hold recommendations. The average target remains below the most bullish forecasts, suggesting expectations for further gains are positive but measured.
• Negative Sentiment: Revenue and year-over-year earnings remain concerns. Although the latest EPS result beat estimates, revenue of $4.30 billion fell short of the $4.66 billion consensus, and earnings declined from $1.36 per share in the year-earlier quarter. These results could limit upside if upcoming performance does not improve.

About Corebridge Financial

Corebridge Financial, Inc (NYSE: CRBG) is a provider of retirement solutions and insurance products in the United States. The company serves individuals, employers and institutional clients through businesses focused on retirement services, life insurance and institutional markets.

Its offerings include fixed, variable and registered index-linked annuities; individual life insurance; employer-sponsored retirement plans; and investment, funding and risk-management solutions for institutions.