Wells Fargo & Company Raises Corebridge Financial (NYSE:CRBG) Price Target to $36.00

Corebridge Financial (NYSE:CRBG) had its target price raised by equities research analysts at Wells Fargo & Company from $35.00 to $36.00 in a report released on Thursday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Wells Fargo & Company‘s target price would indicate a potential upside of 17.97% from the company’s current price.

A number of other research analysts have also recently weighed in on CRBG. UBS Group lifted their price objective on shares of Corebridge Financial from $29.00 to $32.00 and gave the company a “neutral” rating in a report on Wednesday. Zacks Research upgraded Corebridge Financial from a “strong sell” rating to a “hold” rating in a report on Monday, June 22nd. Keefe, Bruyette & Woods raised their price objective on shares of Corebridge Financial from $31.00 to $38.00 and gave the stock an “outperform” rating in a report on Wednesday, May 6th. Barclays lifted their target price on Corebridge Financial from $30.00 to $33.00 and gave the company an “overweight” rating in a research note on Tuesday. Finally, JPMorgan Chase & Co. reduced their price objective on Corebridge Financial from $37.00 to $36.00 and set a “neutral” rating for the company in a research report on Tuesday, May 12th. Eight investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat, Corebridge Financial presently has an average rating of “Moderate Buy” and a consensus target price of $35.09.

Corebridge Financial Trading Up 2.2%

NYSE CRBG traded up $0.67 on Thursday, hitting $30.52. The company’s stock had a trading volume of 1,261,342 shares, compared to its average volume of 5,241,852. The company’s 50-day simple moving average is $27.95 and its 200 day simple moving average is $27.86. The company has a current ratio of 0.12, a quick ratio of 0.12 and a debt-to-equity ratio of 0.99. The firm has a market cap of $13.60 billion, a P/E ratio of 55.54, a PEG ratio of 0.34 and a beta of 1.10. Corebridge Financial has a 52-week low of $22.19 and a 52-week high of $36.57.

Corebridge Financial (NYSE:CRBG) last posted its quarterly earnings data on Wednesday, May 6th. The company reported $1.05 EPS for the quarter, missing the consensus estimate of $1.07 by ($0.02). Corebridge Financial had a return on equity of 18.44% and a net margin of 1.20%.The company had revenue of $4.08 billion during the quarter, compared to analysts’ expectations of $5.06 billion. During the same quarter last year, the company earned $1.16 earnings per share. Research analysts predict that Corebridge Financial will post 4.75 EPS for the current fiscal year.

Insider Activity

In other Corebridge Financial news, insider David Ditillo sold 4,250 shares of the business’s stock in a transaction dated Monday, July 6th. The stock was sold at an average price of $30.00, for a total value of $127,500.00. Following the completion of the transaction, the insider directly owned 128,153 shares of the company’s stock, valued at approximately $3,844,590. The trade was a 3.21% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.29% of the stock is owned by company insiders.

Institutional Trading of Corebridge Financial

A number of institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. increased its holdings in Corebridge Financial by 1.2% during the fourth quarter. Vanguard Group Inc. now owns 27,143,048 shares of the company’s stock worth $818,906,000 after buying an additional 311,133 shares during the last quarter. Pzena Investment Management LLC lifted its holdings in Corebridge Financial by 14.4% during the 1st quarter. Pzena Investment Management LLC now owns 27,045,794 shares of the company’s stock worth $645,313,000 after purchasing an additional 3,413,384 shares during the last quarter. Norges Bank acquired a new position in Corebridge Financial in the 4th quarter valued at $611,550,000. State Street Corp lifted its holdings in shares of Corebridge Financial by 44.3% during the fourth quarter. State Street Corp now owns 11,295,692 shares of the company’s stock worth $340,791,000 after buying an additional 3,465,371 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in Corebridge Financial by 43.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 8,870,085 shares of the company’s stock valued at $211,575,000 after purchasing an additional 2,689,611 shares during the period. Institutional investors own 98.25% of the company’s stock.

Corebridge Financial Company Profile

Corebridge Financial (NYSE: CRBG) is a publicly traded provider of retirement, life insurance and asset management solutions. Formed from the separation of American International Group’s life and retirement operations, Corebridge focuses on helping individuals, employers and institutions manage retirement income, protect against longevity and mortality risks, and invest long-term savings. The company operates under a unified brand that brings together insurance products and investment capabilities to deliver integrated financial solutions.

Corebridge’s product suite includes retirement income and annuity products, individual and group life insurance, asset management and investment advisory services, and employer-sponsored retirement plan offerings.