Piper Sandler Increases Corebridge Financial (NYSE:CRBG) Price Target to $38.00

by · The Markets Daily

Corebridge Financial (NYSE:CRBG – Get Free Report) had its price objective lifted by equities researchers at Piper Sandler from $35.00 to $38.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Piper Sandler’s target price points to a potential upside of 20.79% from the company’s current price.

CRBG has been the subject of a number of other research reports. Deutsche Bank Aktiengesellschaft raised shares of Corebridge Financial from a “hold” rating to a “buy” rating and boosted their target price for the stock from $33.00 to $40.00 in a research report on Friday, January 10th. BMO Capital Markets began coverage on shares of Corebridge Financial in a research report on Thursday, January 23rd. They set an “outperform” rating and a $43.00 price target on the stock. Wells Fargo & Company lifted their target price on shares of Corebridge Financial from $35.00 to $38.00 and gave the stock an “overweight” rating in a report on Wednesday, February 19th. Barclays upgraded shares of Corebridge Financial from an “equal weight” rating to an “overweight” rating and set a $37.00 price objective for the company in a research report on Monday, January 6th. Finally, Morgan Stanley raised shares of Corebridge Financial from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $35.00 to $43.00 in a research note on Friday, February 28th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $37.00.

Get Our Latest Stock Analysis on CRBG

Corebridge Financial Price Performance

Corebridge Financial stock traded down $0.13 during mid-day trading on Wednesday, hitting $31.46. The company’s stock had a trading volume of 347,713 shares, compared to its average volume of 3,550,856. The stock has a market capitalization of $17.49 billion, a P/E ratio of 8.37, a P/E/G ratio of 0.43 and a beta of 0.92. The company has a quick ratio of 0.13, a current ratio of 0.13 and a debt-to-equity ratio of 0.16. The stock’s fifty day moving average price is $32.72 and its two-hundred day moving average price is $31.32. Corebridge Financial has a twelve month low of $23.97 and a twelve month high of $35.36.

Corebridge Financial (NYSE:CRBG – Get Free Report) last issued its earnings results on Wednesday, February 12th. The company reported $1.23 earnings per share for the quarter, missing analysts’ consensus estimates of $1.27 by ($0.04). Corebridge Financial had a net margin of 11.39% and a return on equity of 22.69%. Research analysts forecast that Corebridge Financial will post 5.43 earnings per share for the current year.

Institutional Trading of Corebridge Financial

Institutional investors have recently added to or reduced their stakes in the business. Nippon Life Insurance Co. bought a new stake in Corebridge Financial in the fourth quarter valued at approximately $3,650,151,000. Norges Bank purchased a new position in shares of Corebridge Financial in the fourth quarter worth $283,212,000. Price T Rowe Associates Inc. MD raised its holdings in Corebridge Financial by 31.2% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 32,961,533 shares of the company’s stock valued at $986,539,000 after buying an additional 7,828,929 shares during the last quarter. Wellington Management Group LLP boosted its position in Corebridge Financial by 4,624.2% during the 4th quarter. Wellington Management Group LLP now owns 3,707,960 shares of the company’s stock valued at $110,979,000 after buying an additional 3,629,472 shares during the period. Finally, Pzena Investment Management LLC grew its holdings in Corebridge Financial by 222.9% in the 4th quarter. Pzena Investment Management LLC now owns 4,638,455 shares of the company’s stock worth $138,829,000 after acquiring an additional 3,202,145 shares during the last quarter. 98.25% of the stock is currently owned by hedge funds and other institutional investors.

About Corebridge Financial

(Get Free Report)

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.

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