Corebridge Financial (NYSE:CRBG) PT Raised to $34.00 at Wells Fargo & Company

Corebridge Financial (NYSE:CRBG) had its price target increased by Wells Fargo & Company from $33.00 to $34.00 in a note issued to investors on Friday, Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Wells Fargo & Company‘s price objective would indicate a potential upside of 12.77% from the stock’s previous close.

Several other equities analysts have also weighed in on the stock. Keefe, Bruyette & Woods increased their price target on shares of Corebridge Financial from $35.00 to $38.00 and gave the company an “outperform” rating in a research report on Wednesday, April 10th. Morgan Stanley increased their price target on shares of Corebridge Financial from $26.00 to $28.00 and gave the company an “equal weight” rating in a research report on Monday, April 15th. Evercore ISI upped their price target on shares of Corebridge Financial from $30.00 to $32.00 and gave the company an “outperform” rating in a report on Thursday, April 11th. Royal Bank of Canada restated an “outperform” rating and issued a $32.00 price objective on shares of Corebridge Financial in a report on Friday, April 12th. Finally, Piper Sandler boosted their price objective on shares of Corebridge Financial from $34.00 to $35.00 and gave the stock an “overweight” rating in a research note on Monday. Three analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $29.25.

Corebridge Financial Stock Performance

Corebridge Financial stock traded down $0.10 during trading hours on Friday, hitting $30.15. The company had a trading volume of 1,326,321 shares, compared to its average volume of 4,235,660. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.14 and a quick ratio of 0.14. The firm has a 50-day moving average of $27.05 and a 200 day moving average of $23.93. Corebridge Financial has a one year low of $16.13 and a one year high of $30.98. The firm has a market cap of $18.77 billion, a PE ratio of 7.89, a PEG ratio of 0.33 and a beta of 0.96.

Corebridge Financial (NYSE:CRBG) last issued its quarterly earnings data on Friday, May 3rd. The company reported $1.10 earnings per share for the quarter, topping the consensus estimate of $1.05 by $0.05. The company had revenue of $5.85 billion for the quarter, compared to analysts’ expectations of $5.50 billion. Corebridge Financial had a net margin of 11.25% and a return on equity of 24.31%. During the same quarter in the previous year, the firm posted $0.97 earnings per share. On average, sell-side analysts expect that Corebridge Financial will post 4.82 earnings per share for the current year.

Institutional Investors Weigh In On Corebridge Financial

Large investors have recently made changes to their positions in the company. Riverview Trust Co bought a new stake in Corebridge Financial in the first quarter worth about $25,000. Commonwealth Equity Services LLC lifted its position in Corebridge Financial by 5.6% during the 1st quarter. Commonwealth Equity Services LLC now owns 21,725 shares of the company’s stock worth $624,000 after acquiring an additional 1,149 shares during the period. Mariner LLC increased its holdings in shares of Corebridge Financial by 4.3% in the third quarter. Mariner LLC now owns 33,647 shares of the company’s stock valued at $665,000 after purchasing an additional 1,388 shares during the period. EverSource Wealth Advisors LLC purchased a new position in shares of Corebridge Financial in the third quarter worth about $28,000. Finally, Sciencast Management LP lifted its holdings in shares of Corebridge Financial by 15.7% during the first quarter. Sciencast Management LP now owns 11,170 shares of the company’s stock worth $321,000 after purchasing an additional 1,515 shares during the period. 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.