Corebridge Financial, Inc. (NYSE:CRBG) Receives Consensus Rating of “Moderate Buy” from Analysts

Corebridge Financial, Inc. (NYSE:CRBG) has received an average rating of “Moderate Buy” from the fifteen analysts that are presently covering the firm, Marketbeat Ratings reports. Three investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $36.43.

A number of research analysts recently weighed in on the company. BMO Capital Markets assumed coverage on Corebridge Financial in a report on Thursday, January 23rd. They issued an “outperform” rating and a $43.00 target price on the stock. Piper Sandler lifted their target price on Corebridge Financial from $34.00 to $35.00 and gave the company an “overweight” rating in a report on Wednesday, December 18th. TD Cowen lifted their target price on Corebridge Financial from $35.00 to $37.00 and gave the company a “buy” rating in a report on Wednesday, November 27th. Deutsche Bank Aktiengesellschaft raised Corebridge Financial from a “hold” rating to a “buy” rating and raised their price objective for the company from $33.00 to $40.00 in a research report on Friday, January 10th. Finally, DOWLING & PARTN lowered Corebridge Financial from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 26th.

Corebridge Financial Price Performance

Shares of Corebridge Financial stock opened at $33.12 on Thursday. Corebridge Financial has a twelve month low of $23.34 and a twelve month high of $34.66. The stock has a market capitalization of $18.84 billion, a P/E ratio of -15.84, a PEG ratio of 0.37 and a beta of 0.94. The company has a current ratio of 0.14, a quick ratio of 0.14 and a debt-to-equity ratio of 0.83. The business’s fifty day moving average price is $31.36 and its 200 day moving average price is $30.08.

Insider Transactions at Corebridge Financial

In related news, major shareholder International Group American sold 121,956,256 shares of the business’s stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $31.47, for a total value of $3,837,963,376.32. Following the completion of the sale, the insider now directly owns 127,282,642 shares of the company’s stock, valued at $4,005,584,743.74. The trade was a 48.93 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.08% of the company’s stock.

Institutional Trading of Corebridge Financial

Hedge funds and other institutional investors have recently bought and sold shares of the company. Public Employees Retirement System of Ohio increased its holdings in Corebridge Financial by 11.3% in the third quarter. Public Employees Retirement System of Ohio now owns 167,038 shares of the company’s stock valued at $4,871,000 after buying an additional 16,970 shares during the last quarter. Virtu Financial LLC bought a new stake in Corebridge Financial in the third quarter valued at about $581,000. State Street Corp increased its holdings in Corebridge Financial by 11.7% in the third quarter. State Street Corp now owns 8,035,438 shares of the company’s stock valued at $234,313,000 after buying an additional 843,559 shares during the last quarter. First Hawaiian Bank bought a new stake in Corebridge Financial in the fourth quarter valued at about $1,168,000. Finally, Qsemble Capital Management LP bought a new stake in Corebridge Financial in the third quarter valued at about $2,370,000. 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.