Corebridge Financial (NYSE:CRBG) Price Target Raised to $28.00 at Morgan Stanley

Corebridge Financial (NYSE:CRBG) had its price target hoisted by research analysts at Morgan Stanley from $26.00 to $28.00 in a report released on Monday, Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Morgan Stanley’s price target indicates a potential upside of 4.63% from the stock’s current price.

CRBG has been the topic of several other reports. Piper Sandler increased their target price on Corebridge Financial from $30.00 to $34.00 and gave the stock an “overweight” rating in a research report on Friday, April 5th. Evercore ISI increased their target price on Corebridge Financial from $30.00 to $32.00 and gave the stock an “outperform” rating in a research report on Thursday. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $32.00 target price on shares of Corebridge Financial in a research report on Friday. UBS Group increased their target price on Corebridge Financial from $22.00 to $28.00 and gave the stock a “buy” rating in a research report on Wednesday, January 10th. Finally, Keefe, Bruyette & Woods increased their target price on Corebridge Financial from $35.00 to $38.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 10th. Three research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $29.08.

Corebridge Financial Stock Performance

Shares of CRBG stock traded down $0.02 on Monday, hitting $26.76. 879,316 shares of the stock traded hands, compared to its average volume of 4,310,644. 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 company has a market capitalization of $16.66 billion, a PE ratio of 15.85, a PEG ratio of 0.31 and a beta of 0.86. Corebridge Financial has a 1-year low of $14.91 and a 1-year high of $29.40. The company’s fifty day moving average is $25.82 and its 200 day moving average is $23.01.

Corebridge Financial (NYSE:CRBG) last posted its quarterly earnings results on Thursday, February 15th. The company reported $1.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.99 by $0.05. Corebridge Financial had a return on equity of 23.11% and a net margin of 5.92%. The business had revenue of $5.92 billion for the quarter, compared to analyst estimates of $5.65 billion. During the same period in the prior year, the company posted $0.88 EPS. The business’s revenue was up 11.3% compared to the same quarter last year. On average, equities research analysts predict that Corebridge Financial will post 4.86 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of CRBG. American International Group Inc. boosted its stake in Corebridge Financial by 25,998,738.6% during the fourth quarter. American International Group Inc. now owns 324,205,517 shares of the company’s stock valued at $7,022,291,000 after buying an additional 324,204,270 shares in the last quarter. Norges Bank purchased a new stake in shares of Corebridge Financial during the fourth quarter valued at $225,561,000. Vanguard Group Inc. lifted its holdings in shares of Corebridge Financial by 39.0% during the fourth quarter. Vanguard Group Inc. now owns 23,713,102 shares of the company’s stock valued at $513,626,000 after purchasing an additional 6,648,673 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of Corebridge Financial by 63.2% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 16,048,354 shares of the company’s stock valued at $321,930,000 after purchasing an additional 6,216,666 shares during the last quarter. Finally, Hotchkis & Wiley Capital Management LLC lifted its holdings in shares of Corebridge Financial by 106.3% during the fourth quarter. Hotchkis & Wiley Capital Management LLC now owns 10,010,679 shares of the company’s stock valued at $216,831,000 after purchasing an additional 5,157,570 shares during the last quarter. 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.