Wells Fargo & Company Raises Corebridge Financial (NYSE:CRBG) Price Target to $33.00

Corebridge Financial (NYSE:CRBG) had its target price hoisted by investment analysts at Wells Fargo & Company from $30.00 to $33.00 in a report released on Thursday, Benzinga reports. The firm presently has an “overweight” rating on the stock. Wells Fargo & Company‘s price objective indicates a potential upside of 23.27% from the stock’s current price.

Other equities analysts also recently issued reports about the company. Royal Bank of Canada lifted their target price on Corebridge Financial from $25.00 to $28.00 and gave the company an “outperform” rating in a research report on Friday, February 16th. Keefe, Bruyette & Woods lifted their target price on Corebridge Financial from $35.00 to $38.00 and gave the company an “outperform” rating in a research report on Wednesday. The Goldman Sachs Group lifted their target price on Corebridge Financial from $27.00 to $31.00 and gave the company a “buy” rating in a research report on Tuesday, January 9th. Piper Sandler lifted their target price on Corebridge Financial from $30.00 to $34.00 and gave the company an “overweight” rating in a research report on Friday, April 5th. Finally, UBS Group lifted their target price on Corebridge Financial from $22.00 to $28.00 and gave the company a “buy” rating in a research report on Wednesday, January 10th. Three investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, Corebridge Financial currently has an average rating of “Moderate Buy” and an average target price of $28.83.

Corebridge Financial Stock Down 1.9 %

Shares of NYSE:CRBG opened at $26.77 on Thursday. The business has a 50-day moving average price of $25.82 and a 200 day moving average price of $22.96. 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 company has a market capitalization of $16.67 billion, a price-to-earnings ratio of 15.84, a PEG ratio of 0.32 and a beta of 0.86. Corebridge Financial has a 12-month low of $14.91 and a 12-month high of $29.40.

Corebridge Financial (NYSE:CRBG) last issued its quarterly earnings data on Thursday, February 15th. The company reported $1.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.99 by $0.05. The firm had revenue of $5.92 billion during the quarter, compared to the consensus estimate of $5.65 billion. Corebridge Financial had a return on equity of 23.11% and a net margin of 5.92%. The company’s quarterly revenue was up 11.3% on a year-over-year basis. During the same period last year, the company earned $0.88 EPS. Sell-side analysts expect that Corebridge Financial will post 4.86 EPS for the current year.

Institutional Investors Weigh In On Corebridge Financial

Several institutional investors have recently added to or reduced their stakes in the business. Riverview Trust Co purchased a new stake in Corebridge Financial during the first quarter worth approximately $25,000. Gulf International Bank UK Ltd purchased a new stake in Corebridge Financial during the first quarter worth approximately $913,000. Park Avenue Securities LLC purchased a new stake in Corebridge Financial during the first quarter worth approximately $284,000. Renaissance Capital LLC lifted its stake in Corebridge Financial by 2.0% during the first quarter. Renaissance Capital LLC now owns 148,948 shares of the company’s stock worth $4,279,000 after purchasing an additional 2,865 shares during the last quarter. Finally, Quadrature Capital Ltd lifted its stake in Corebridge Financial by 89.1% during the fourth quarter. Quadrature Capital Ltd now owns 82,815 shares of the company’s stock worth $1,794,000 after purchasing an additional 39,021 shares during the last quarter. Hedge funds and other institutional investors own 98.25% of the company’s stock.

About Corebridge Financial

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.