Corebridge Financial (NYSE:CRBG) Price Target Increased to $34.00 by Analysts at JPMorgan Chase & Co.

Corebridge Financial (NYSE:CRBG) had its target price upped by investment analysts at JPMorgan Chase & Co. from $26.00 to $34.00 in a report released on Tuesday, Benzinga reports. The brokerage currently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s price target indicates a potential upside of 15.84% from the stock’s previous close.

Several other equities research analysts also recently commented on CRBG. Royal Bank of Canada reissued an “outperform” rating and issued a $33.00 price objective on shares of Corebridge Financial in a report on Friday. Piper Sandler increased their price objective on Corebridge Financial from $34.00 to $35.00 and gave the company an “overweight” rating in a report on Monday, May 6th. Morgan Stanley increased their price objective on Corebridge Financial from $26.00 to $28.00 and gave the company an “equal weight” rating in a report on Monday, April 15th. Keefe, Bruyette & Woods raised their price target on Corebridge Financial from $35.00 to $38.00 and gave the company an “outperform” rating in a report on Wednesday, April 10th. Finally, Wells Fargo & Company raised their price target on Corebridge Financial from $33.00 to $34.00 and gave the company an “overweight” rating in a report on Friday, May 10th. Four research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $31.42.

Corebridge Financial Stock Up 0.8 %

Shares of CRBG traded up $0.23 during mid-day trading on Tuesday, hitting $29.35. 361,146 shares of the company’s stock were exchanged, compared to its average volume of 4,441,791. The company has a market cap of $17.86 billion, a PE ratio of 7.72, a P/E/G ratio of 0.32 and a beta of 0.97. Corebridge Financial has a 52 week low of $17.40 and a 52 week high of $34.66. The company has a 50-day simple moving average of $29.25 and a 200 day simple moving average of $26.39. The company has a debt-to-equity ratio of 0.94, a current ratio of 0.14 and a quick ratio of 0.14.

Corebridge Financial (NYSE:CRBG) last issued its quarterly earnings results 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 during 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 23.64%. During the same period last year, the business earned $0.97 EPS. On average, research analysts forecast that Corebridge Financial will post 4.95 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, major shareholder International Group American sold 30,000,000 shares of the firm’s stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $29.20, for a total value of $876,000,000.00. Following the transaction, the insider now owns 294,203,636 shares in the company, valued at $8,590,746,171.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.09% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of CRBG. Riverview Trust Co bought a new position in shares of Corebridge Financial in the first quarter worth $25,000. Vestor Capital LLC bought a new position in Corebridge Financial in the fourth quarter valued at about $43,000. Headlands Technologies LLC bought a new position in Corebridge Financial in the fourth quarter valued at about $65,000. Plato Investment Management Ltd bought a new position in Corebridge Financial in the first quarter valued at about $100,000. Finally, UniSuper Management Pty Ltd bought a new position in Corebridge Financial in the first quarter valued at about $103,000. Institutional investors own 98.25% of the company’s stock.

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.