Corebridge Financial (NYSE:CRBG) Price Target Raised to $45.00 at Jefferies Financial Group

Corebridge Financial (NYSE:CRBG) had its price objective boosted by stock analysts at Jefferies Financial Group from $43.00 to $45.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm currently has a “buy” rating on the stock. Jefferies Financial Group’s price target would suggest a potential upside of 46.83% from the company’s previous close.

A number of other brokerages have also recently commented on CRBG. Wells Fargo & Company upped their price target on Corebridge Financial from $35.00 to $36.00 and gave the company an “overweight” rating in a research note on Thursday. JPMorgan Chase & Co. decreased their price objective on shares of Corebridge Financial from $37.00 to $36.00 and set a “neutral” rating for the company in a report on Tuesday, May 12th. Mizuho upped their target price on shares of Corebridge Financial from $35.00 to $36.00 and gave the company an “outperform” rating in a research note on Thursday. Bank of America cut their target price on shares of Corebridge Financial from $42.00 to $40.00 and set a “buy” rating on the stock in a report on Tuesday, April 14th. Finally, Zacks Research raised shares of Corebridge Financial from a “strong sell” rating to a “hold” rating in a report on Monday, June 22nd. Nine investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $35.92.

Corebridge Financial Stock Performance

CRBG stock opened at $30.65 on Friday. The business’s fifty day moving average is $28.01 and its 200-day moving average is $27.86. The company has a quick ratio of 0.12, a current ratio of 0.12 and a debt-to-equity ratio of 0.99. The company has a market cap of $13.66 billion, a P/E ratio of 55.81, a price-to-earnings-growth ratio of 0.33 and a beta of 1.10. Corebridge Financial has a twelve month low of $22.19 and a twelve month high of $36.57.

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

Insider Transactions at Corebridge Financial

In other news, insider David Ditillo sold 4,250 shares of the company’s stock in a transaction dated Monday, July 6th. The stock was sold at an average price of $30.00, for a total transaction of $127,500.00. Following the completion of the transaction, the insider directly owned 128,153 shares of the company’s stock, valued at $3,844,590. This represents a 3.21% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.29% of the company’s stock.

Hedge Funds Weigh In On Corebridge Financial

Several hedge funds have recently made changes to their positions in CRBG. Community Bank N.A. acquired a new stake in shares of Corebridge Financial in the third quarter valued at approximately $26,000. Salomon & Ludwin LLC grew its position in Corebridge Financial by 179.7% in the fourth quarter. Salomon & Ludwin LLC now owns 828 shares of the company’s stock valued at $26,000 after purchasing an additional 532 shares in the last quarter. Rothschild Investment LLC grew its position in Corebridge Financial by 133.3% in the fourth quarter. Rothschild Investment LLC now owns 910 shares of the company’s stock valued at $27,000 after purchasing an additional 520 shares in the last quarter. True Wealth Design LLC increased its stake in Corebridge Financial by 50.2% in the 4th quarter. True Wealth Design LLC now owns 1,233 shares of the company’s stock valued at $37,000 after buying an additional 412 shares during the last quarter. Finally, Sonoma Allocations LLC bought a new stake in Corebridge Financial during the 1st quarter worth about $30,000. 98.25% of the stock is owned by institutional investors.

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.