Corebridge Financial (NYSE:CRBG) Stock Rating Upgraded by Wall Street Zen

Corebridge Financial (NYSE:CRBG) was upgraded by stock analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research note issued to investors on Friday.

CRBG has been the subject of a number of other reports. Barclays lifted their target price on Corebridge Financial from $36.00 to $38.00 and gave the company an “overweight” rating in a report on Tuesday, May 6th. Piper Sandler lifted their price objective on Corebridge Financial from $35.00 to $38.00 and gave the company an “overweight” rating in a research note on Wednesday, April 2nd. UBS Group downgraded Corebridge Financial from a “buy” rating to a “sell” rating and lowered their price objective for the stock from $40.00 to $28.00 in a research report on Wednesday, April 2nd. Keefe, Bruyette & Woods upped their target price on shares of Corebridge Financial from $37.00 to $39.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 7th. Finally, Morgan Stanley lifted their price target on shares of Corebridge Financial from $32.00 to $37.00 and gave the stock an “overweight” rating in a research note on Monday, May 19th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, Corebridge Financial currently has a consensus rating of “Moderate Buy” and a consensus price target of $37.00.

Corebridge Financial Stock Performance

Shares of NYSE:CRBG opened at $33.33 on Friday. The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 0.16. The company has a market capitalization of $18.32 billion, a price-to-earnings ratio of 8.82, a PEG ratio of 0.43 and a beta of 1.04. The firm’s 50-day moving average is $30.22 and its 200 day moving average is $31.30. Corebridge Financial has a 12 month low of $23.69 and a 12 month high of $35.36.

Corebridge Financial (NYSE:CRBG) last announced its quarterly earnings data on Monday, May 5th. The company reported $1.16 earnings per share for the quarter, beating analysts’ consensus estimates of $1.15 by $0.01. Corebridge Financial had a net margin of 11.39% and a return on equity of 22.69%. The firm had revenue of $4.74 billion during the quarter, compared to analysts’ expectations of $5.28 billion. During the same quarter in the previous year, the business posted $1.10 earnings per share. Research analysts predict that Corebridge Financial will post 5.43 EPS for the current year.

Institutional Trading of Corebridge Financial

A number of large investors have recently made changes to their positions in the company. EverSource Wealth Advisors LLC lifted its stake in Corebridge Financial by 25.1% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,642 shares of the company’s stock valued at $49,000 after buying an additional 329 shares during the last quarter. Whittier Trust Co. of Nevada Inc. increased its holdings in shares of Corebridge Financial by 58.4% in the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 1,147 shares of the company’s stock valued at $34,000 after acquiring an additional 423 shares during the period. Smartleaf Asset Management LLC raised its position in Corebridge Financial by 112.4% in the 4th quarter. Smartleaf Asset Management LLC now owns 907 shares of the company’s stock valued at $27,000 after purchasing an additional 480 shares during the last quarter. Brooklyn Investment Group boosted its stake in Corebridge Financial by 66.7% during the 1st quarter. Brooklyn Investment Group now owns 1,452 shares of the company’s stock worth $46,000 after purchasing an additional 581 shares during the period. Finally, Sanctuary Advisors LLC grew its position in Corebridge Financial by 3.1% during the 4th quarter. Sanctuary Advisors LLC now owns 22,182 shares of the company’s stock worth $664,000 after purchasing an additional 660 shares during the last quarter. 98.25% of the stock is owned by institutional investors and hedge funds.

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.