Corebridge Financial (NYSE:CRBG) Price Target Increased to $35.00 by Analysts at Piper Sandler

Corebridge Financial (NYSE:CRBG) had its target price boosted by analysts at Piper Sandler from $34.00 to $35.00 in a report released on Monday, Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Piper Sandler’s price target would indicate a potential upside of 16.53% from the company’s current price.

CRBG has been the subject of several other research reports. Wells Fargo & Company boosted their price target on shares of Corebridge Financial from $30.00 to $33.00 and gave the company an “overweight” rating in a report on Thursday, April 11th. Morgan Stanley raised their price target on shares of Corebridge Financial from $26.00 to $28.00 and gave the company an “equal weight” rating in a research note on Monday, April 15th. Evercore ISI boosted their price objective on Corebridge Financial from $30.00 to $32.00 and gave the stock an “outperform” rating in a research report on Thursday, April 11th. The Goldman Sachs Group raised 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. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $32.00 price target on shares of Corebridge Financial in a research note on Friday, April 12th. Three research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $29.17.

Corebridge Financial Price Performance

Shares of NYSE CRBG opened at $30.04 on Monday. 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 $18.70 billion, a price-to-earnings ratio of 7.90, a price-to-earnings-growth ratio of 0.33 and a beta of 0.96. Corebridge Financial has a twelve month low of $16.13 and a twelve month high of $30.04. The business has a 50 day simple moving average of $26.71 and a 200-day simple moving average of $23.77.

Corebridge Financial (NYSE:CRBG) last issued its earnings results on Friday, May 3rd. The company reported $1.10 EPS for the quarter, beating analysts’ consensus estimates of $1.05 by $0.05. Corebridge Financial had a return on equity of 24.31% and a net margin of 11.25%. The company had revenue of $5.85 billion during the quarter, compared to the consensus estimate of $5.50 billion. During the same period in the previous year, the firm posted $0.97 earnings per share. As a group, equities research analysts expect that Corebridge Financial will post 4.82 earnings per share for the current year.

Institutional Investors Weigh In On Corebridge Financial

Several large investors have recently modified their holdings of CRBG. Sei Investments Co. boosted its holdings in shares of Corebridge Financial by 97.5% in the first quarter. Sei Investments Co. now owns 419,541 shares of the company’s stock worth $12,053,000 after buying an additional 207,071 shares during the period. Swiss National Bank purchased a new position in Corebridge Financial during the 1st quarter worth approximately $21,455,000. Forsta AP Fonden purchased a new position in Corebridge Financial during the 1st quarter worth approximately $1,979,000. Oppenheimer Asset Management Inc. purchased a new position in Corebridge Financial during the 1st quarter worth approximately $473,000. Finally, Sciencast Management LP grew its position in Corebridge Financial by 15.7% during the 1st quarter. Sciencast Management LP now owns 11,170 shares of the company’s stock worth $321,000 after purchasing an additional 1,515 shares in the last quarter. 98.25% of the stock is owned by institutional investors.

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.