Corebridge Financial (NYSE:CRBG – Get Free Report) had its price target dropped by Royal Bank of Canada from $33.00 to $32.00 in a research note issued on Friday, Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Royal Bank of Canada’s price objective indicates a potential upside of 22.09% from the stock’s current price.
CRBG has been the topic of a number of other reports. Morgan Stanley lifted their price target on shares of Corebridge Financial from $26.00 to $28.00 and gave the stock an “equal weight” rating in a research report on Monday, April 15th. UBS Group lifted their price target on shares of Corebridge Financial from $29.00 to $35.00 and gave the stock a “buy” rating in a research report on Tuesday, July 9th. Jefferies Financial Group lifted their price target on shares of Corebridge Financial from $35.00 to $40.00 and gave the stock a “buy” rating in a research report on Friday, June 28th. JPMorgan Chase & Co. raised their price objective on shares of Corebridge Financial from $26.00 to $34.00 and gave the stock a “neutral” rating in a report on Tuesday, July 2nd. Finally, Piper Sandler raised their price objective on shares of Corebridge Financial from $34.00 to $35.00 and gave the stock an “overweight” rating in a report on Monday, May 6th. Four analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, Corebridge Financial currently has an average rating of “Moderate Buy” and an average target price of $32.38.
Read Our Latest Research Report on CRBG
Corebridge Financial Trading Down 5.4 %
Corebridge Financial (NYSE:CRBG – Get Free Report) last announced its quarterly earnings data on Wednesday, July 31st. The company reported $1.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.10 by $0.03. Corebridge Financial had a net margin of 10.16% and a return on equity of 23.77%. The firm had revenue of $4.18 billion for the quarter, compared to analysts’ expectations of $5.73 billion. During the same period last year, the firm earned $1.04 earnings per share. As a group, research analysts expect that Corebridge Financial will post 4.73 EPS for the current fiscal year.
Insider Buying and Selling at Corebridge Financial
In other Corebridge Financial news, major shareholder International Group American sold 30,000,000 shares of the business’s stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $29.20, for a total value of $876,000,000.00. Following the completion of the sale, the insider now owns 294,203,636 shares of the company’s stock, valued at approximately $8,590,746,171.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.09% of the company’s stock.
Hedge Funds Weigh In On Corebridge Financial
Hedge funds and other institutional investors have recently made changes to their positions in the company. Riverview Trust Co acquired a new position in Corebridge Financial during the 1st quarter worth approximately $25,000. LRI Investments LLC acquired a new position in Corebridge Financial during the 2nd quarter worth approximately $30,000. ORG Partners LLC acquired a new position in Corebridge Financial during the 2nd quarter worth approximately $32,000. Vestor Capital LLC acquired a new position in Corebridge Financial during the 4th quarter worth approximately $43,000. Finally, Fifth Third Bancorp acquired a new position in Corebridge Financial during the 2nd quarter worth approximately $54,000. 98.25% of the stock is currently owned by institutional investors and hedge funds.
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.
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