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

Corebridge Financial (NYSE:CRBG) had its target price raised by analysts at Piper Sandler from $35.00 to $38.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Piper Sandler’s price target points to a potential upside of 20.79% from the company’s previous close.

Several other research firms have also recently weighed in on CRBG. BMO Capital Markets began coverage on Corebridge Financial in a research report on Thursday, January 23rd. They set an “outperform” rating and a $43.00 price objective on the stock. UBS Group lowered Corebridge Financial from a “buy” rating to a “sell” rating and lowered their price objective for the company from $40.00 to $28.00 in a research report on Wednesday. Wells Fargo & Company upped their price objective 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. Morgan Stanley raised Corebridge Financial from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $35.00 to $43.00 in a research report on Friday, February 28th. Finally, Barclays raised shares of Corebridge Financial from an “equal weight” rating to an “overweight” rating and set a $37.00 price target on the stock in a report on Monday, January 6th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $37.00.

Corebridge Financial Trading Down 0.4 %

Shares of Corebridge Financial stock traded down $0.13 during midday trading on Wednesday, reaching $31.46. 347,713 shares of the company’s stock traded hands, compared to its average volume of 3,550,856. The company has a market cap of $17.49 billion, a PE ratio of 8.37, a price-to-earnings-growth ratio of 0.43 and a beta of 0.92. The stock has a 50 day moving average of $32.72 and a 200-day moving average of $31.32. Corebridge Financial has a 12 month low of $23.97 and a 12 month high of $35.36. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.13 and a current ratio of 0.13.

Corebridge Financial (NYSE:CRBG) last posted its earnings results on Wednesday, February 12th. The company reported $1.23 EPS for the quarter, missing the consensus estimate of $1.27 by ($0.04). Corebridge Financial had a return on equity of 22.69% and a net margin of 11.39%. As a group, equities analysts expect that Corebridge Financial will post 5.43 EPS for the current fiscal year.

Institutional Investors Weigh In On Corebridge Financial

Institutional investors have recently bought and sold shares of the business. Public Employees Retirement System of Ohio grew its position in shares of Corebridge Financial by 11.3% during the third quarter. Public Employees Retirement System of Ohio now owns 167,038 shares of the company’s stock worth $4,871,000 after purchasing an additional 16,970 shares in the last quarter. Virtu Financial LLC purchased a new position in shares of Corebridge Financial in the third quarter worth $581,000. New York Life Investment Management LLC bought a new position in shares of Corebridge Financial during the fourth quarter worth $781,000. State Street Corp grew its stake in Corebridge Financial by 11.7% during the third quarter. State Street Corp now owns 8,035,438 shares of the company’s stock valued at $234,313,000 after acquiring an additional 843,559 shares in the last quarter. Finally, First Hawaiian Bank purchased a new position in shares of Corebridge Financial during the fourth quarter valued at about $1,168,000. Hedge funds and other institutional investors own 98.25% of the company’s stock.

Corebridge Financial Company Profile

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.