Keefe, Bruyette & Woods Has Lowered Expectations for Corebridge Financial (NYSE:CRBG) Stock Price

Corebridge Financial (NYSE:CRBG) had its target price lowered by equities researchers at Keefe, Bruyette & Woods from $32.00 to $31.00 in a report released on Friday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Keefe, Bruyette & Woods’ price objective indicates a potential upside of 26.92% from the company’s previous close.

A number of other equities research analysts also recently weighed in on the stock. TD Cowen lowered their target price on shares of Corebridge Financial from $38.00 to $35.00 and set a “buy” rating on the stock in a research note on Tuesday, March 10th. Barclays lowered their target price on shares of Corebridge Financial from $33.00 to $30.00 and set an “overweight” rating on the stock in a research note on Wednesday. JPMorgan Chase & Co. lowered their target price on shares of Corebridge Financial from $40.00 to $39.00 and set a “neutral” rating on the stock in a research note on Monday, January 5th. Wells Fargo & Company lowered their target price on shares of Corebridge Financial from $36.00 to $32.00 and set an “overweight” rating on the stock in a research note on Friday. Finally, Piper Sandler raised shares of Corebridge Financial to a “strong-buy” rating in a research note on Thursday, April 2nd. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $35.55.

Corebridge Financial Trading Down 1.5%

Shares of Corebridge Financial stock opened at $24.43 on Friday. Corebridge Financial has a 12-month low of $22.19 and a 12-month high of $36.57. The company has a market cap of $11.77 billion, a price-to-earnings ratio of -46.08, a PEG ratio of 0.39 and a beta of 1.12. The company has a current ratio of 0.12, a quick ratio of 0.12 and a debt-to-equity ratio of 0.11. The company’s 50-day moving average price is $26.48 and its 200-day moving average price is $29.27.

Corebridge Financial (NYSE:CRBG) last announced its quarterly earnings results on Wednesday, February 11th. The company reported $1.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.11 by $0.11. Corebridge Financial had a negative net margin of 1.73% and a positive return on equity of 18.92%. The firm had revenue of $6.34 billion for the quarter, compared to the consensus estimate of $5.02 billion. During the same period in the prior year, the firm posted $1.06 earnings per share. On average, equities analysts expect that Corebridge Financial will post 5.43 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Community Bank N.A. bought a new position in Corebridge Financial during the third quarter valued at approximately $26,000. Smartleaf Asset Management LLC grew its position in Corebridge Financial by 83.6% during the third quarter. Smartleaf Asset Management LLC now owns 828 shares of the company’s stock valued at $27,000 after acquiring an additional 377 shares during the last quarter. Salomon & Ludwin LLC grew its position in Corebridge Financial by 179.7% during the fourth quarter. Salomon & Ludwin LLC now owns 828 shares of the company’s stock valued at $26,000 after acquiring an additional 532 shares during the last quarter. Rothschild Investment LLC grew its position in Corebridge Financial by 133.3% during the fourth quarter. Rothschild Investment LLC now owns 910 shares of the company’s stock valued at $27,000 after acquiring an additional 520 shares during the last quarter. Finally, Root Financial Partners LLC bought a new position in Corebridge Financial during the third quarter valued at approximately $32,000. 98.25% of the stock is currently owned by institutional investors.

Corebridge Financial Company Profile

Corebridge Financial (NYSE: CRBG) is a publicly traded provider of retirement, life insurance and asset management solutions. Formed from the separation of American International Group’s life and retirement operations, Corebridge focuses on helping individuals, employers and institutions manage retirement income, protect against longevity and mortality risks, and invest long-term savings. The company operates under a unified brand that brings together insurance products and investment capabilities to deliver integrated financial solutions.

Corebridge’s product suite includes retirement income and annuity products, individual and group life insurance, asset management and investment advisory services, and employer-sponsored retirement plan offerings.