Corebridge Financial (NYSE:CRBG) Rating Reiterated by Royal Bank of Canada

Corebridge Financial (NYSE:CRBG)‘s stock had its “outperform” rating reissued by equities research analysts at Royal Bank of Canada in a note issued to investors on Friday, Benzinga reports. They presently have a $32.00 price objective on the stock. Royal Bank of Canada’s price target would indicate a potential upside of 19.49% from the company’s previous close.

CRBG has been the subject of several other reports. Evercore ISI raised their target price on Corebridge Financial from $30.00 to $32.00 and gave the company an “outperform” rating in a research report on Thursday. Keefe, Bruyette & Woods lifted their price objective on Corebridge Financial from $35.00 to $38.00 and gave the stock an “outperform” rating in a report on Wednesday. UBS Group lifted their price objective on Corebridge Financial from $22.00 to $28.00 and gave the stock a “buy” rating in a report on Wednesday, January 10th. The Goldman Sachs Group lifted their price objective on Corebridge Financial from $27.00 to $31.00 and gave the stock a “buy” rating in a report on Tuesday, January 9th. Finally, Piper Sandler lifted their price objective on Corebridge Financial from $30.00 to $34.00 and gave the stock an “overweight” rating in a report on Friday, April 5th. Three equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $28.83.

Corebridge Financial Trading Down 1.9 %

Shares of Corebridge Financial stock opened at $26.78 on Friday. Corebridge Financial has a 1 year low of $14.91 and a 1 year high of $29.40. The firm has a market cap of $16.67 billion, a PE ratio of 15.85, a P/E/G ratio of 0.32 and a beta of 0.86. The stock has a fifty day moving average price of $25.82 and a 200-day moving average price of $22.98. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.14 and a quick ratio of 0.14.

Corebridge Financial (NYSE:CRBG) last announced its earnings results on Thursday, February 15th. The company reported $1.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.99 by $0.05. Corebridge Financial had a return on equity of 23.11% and a net margin of 5.92%. The firm had revenue of $5.92 billion during the quarter, compared to analyst estimates of $5.65 billion. During the same period last year, the firm posted $0.88 EPS. The business’s revenue was up 11.3% compared to the same quarter last year. Equities research analysts anticipate that Corebridge Financial will post 4.86 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in CRBG. Riverview Trust Co bought a new position in Corebridge Financial in the 1st quarter worth about $25,000. EverSource Wealth Advisors LLC bought a new stake in shares of Corebridge Financial during the 3rd quarter valued at about $28,000. Nomura Asset Management Co. Ltd. bought a new stake in shares of Corebridge Financial during the 1st quarter valued at about $30,000. MetLife Investment Management LLC bought a new stake in shares of Corebridge Financial during the 4th quarter valued at about $33,000. Finally, Advisor Group Holdings Inc. bought a new stake in shares of Corebridge Financial during the 4th quarter valued at about $35,000. 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.