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

Corebridge Financial (NYSE:CRBG) was upgraded by investment analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a report issued on Saturday.

A number of other analysts have also recently commented on CRBG. Barclays boosted their price objective on Corebridge Financial from $38.00 to $45.00 and gave the company an “overweight” rating in a research report on Thursday, June 26th. Piper Sandler increased their price objective on shares of Corebridge Financial from $38.00 to $40.00 and gave the company an “overweight” rating in a report on Thursday. UBS Group lowered Corebridge Financial from a “buy” rating to a “sell” rating and lowered their price target for the stock from $40.00 to $28.00 in a research note on Wednesday, April 2nd. BMO Capital Markets boosted their price target on shares of Corebridge Financial from $43.00 to $44.00 and gave the stock an “outperform” rating in a research report on Friday, June 27th. Finally, Wells Fargo & Company upped their target price on Corebridge Financial from $37.00 to $42.00 and gave the company an “overweight” rating in a report on Wednesday. One research analyst has rated the stock with a sell rating, two have given a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $38.64.

Corebridge Financial Trading Up 1.2%

Shares of Corebridge Financial stock opened at $35.78 on Friday. The firm has a 50-day simple moving average of $32.60 and a two-hundred day simple moving average of $31.61. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.14 and a current ratio of 0.14. Corebridge Financial has a fifty-two week low of $23.69 and a fifty-two week high of $36.08. The company has a market cap of $19.67 billion, a P/E ratio of 30.32, a price-to-earnings-growth ratio of 0.59 and a beta of 1.06.

Corebridge Financial (NYSE:CRBG) last announced its quarterly earnings results on Monday, May 5th. The company reported $1.16 earnings per share for the quarter, beating the consensus estimate of $1.15 by $0.01. The firm had revenue of $4.74 billion during the quarter, compared to analyst estimates of $5.28 billion. Corebridge Financial had a return on equity of 22.19% and a net margin of 3.73%. During the same quarter in the previous year, the business earned $1.10 EPS. As a group, equities analysts predict that Corebridge Financial will post 5.43 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Corebridge Financial

Several institutional investors and hedge funds have recently modified their holdings of the company. Norges Bank acquired a new position in shares of Corebridge Financial in the fourth quarter valued at approximately $283,212,000. Price T Rowe Associates Inc. MD increased its holdings in Corebridge Financial by 31.2% in the fourth 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 increased its holdings in shares of Corebridge Financial by 4,624.2% in the 4th quarter. Wellington Management Group LLP now owns 3,707,960 shares of the company’s stock valued at $110,979,000 after acquiring an additional 3,629,472 shares during the last quarter. Pzena Investment Management LLC increased its stake in Corebridge Financial by 73.6% in the first quarter. Pzena Investment Management LLC now owns 8,050,602 shares of the company’s stock valued at $254,158,000 after purchasing an additional 3,412,147 shares during the last quarter. Finally, Nuveen LLC acquired a new stake in Corebridge Financial during the 1st quarter worth $100,404,000. Hedge funds and other institutional investors own 98.25% of the company’s stock.

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.