Corebridge Financial (NYSE:CRBG) PT Raised to $34.00

Corebridge Financial (NYSE:CRBG) had its target price hoisted by research analysts at JPMorgan Chase & Co. from $26.00 to $34.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The brokerage currently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s price objective would indicate a potential upside of 15.84% from the stock’s previous close.

Other equities research analysts have also issued reports about the company. Morgan Stanley raised their price objective on Corebridge Financial from $26.00 to $28.00 and gave the stock an “equal weight” rating in a research note on Monday, April 15th. Evercore ISI raised their target price on Corebridge Financial from $30.00 to $32.00 and gave the stock an “outperform” rating in a research report on Thursday, April 11th. Wells Fargo & Company raised their target price on Corebridge Financial from $33.00 to $34.00 and gave the stock an “overweight” rating in a research report on Friday, May 10th. Keefe, Bruyette & Woods raised their target price on Corebridge Financial from $35.00 to $38.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 10th. Finally, Jefferies Financial Group raised their target price on Corebridge Financial from $35.00 to $40.00 and gave the stock a “buy” rating in a research report on Friday, June 28th. Four research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, Corebridge Financial presently has a consensus rating of “Moderate Buy” and a consensus price target of $31.42.

Corebridge Financial Stock Performance

CRBG opened at $29.35 on Tuesday. The firm has a market cap of $17.86 billion, a PE ratio of 7.72, a P/E/G ratio of 0.32 and a beta of 0.97. The company has a quick ratio of 0.14, a current ratio of 0.14 and a debt-to-equity ratio of 0.94. The business has a fifty day simple moving average of $29.34 and a 200-day simple moving average of $26.47. Corebridge Financial has a fifty-two week low of $17.40 and a fifty-two week high of $34.66.

Corebridge Financial (NYSE:CRBG) last released 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 business had revenue of $5.85 billion during the quarter, compared to analyst estimates of $5.50 billion. Corebridge Financial had a return on equity of 23.64% and a net margin of 11.25%. During the same period last year, the company posted $0.97 EPS. As a group, equities analysts predict that Corebridge Financial will post 4.9 EPS for the current fiscal year.

Insider Buying and Selling

In other Corebridge Financial news, major shareholder International Group American sold 1,932,609 shares of the firm’s stock in a transaction dated Tuesday, July 2nd. The stock was sold at an average price of $29.20, for a total transaction of $56,432,182.80. Following the transaction, the insider now directly owns 292,271,027 shares in the company, valued at $8,534,313,988.40. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.09% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Corebridge Financial

Institutional investors have recently bought and sold shares of the stock. Riverview Trust Co bought a new position in shares of Corebridge Financial in the first quarter worth about $25,000. Vestor Capital LLC bought a new position in shares of Corebridge Financial in the fourth quarter worth about $43,000. Headlands Technologies LLC bought a new position in shares of Corebridge Financial in the fourth quarter worth about $65,000. Plato Investment Management Ltd bought a new position in shares of Corebridge Financial in the first quarter worth about $100,000. Finally, UniSuper Management Pty Ltd bought a new position in shares of Corebridge Financial in the first quarter worth about $103,000. 98.25% of the stock is currently 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.