Corebridge Financial, Inc. (NYSE:CRBG) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of Corebridge Financial, Inc. (NYSE:CRBG) have been assigned a consensus recommendation of “Moderate Buy” from the fifteen brokerages that are currently covering the company, Marketbeat reports. Three investment analysts have rated the stock with a hold recommendation and twelve have given a buy recommendation to the company. The average 1 year price target among brokerages that have covered the stock in the last year is $36.43.

A number of research firms have weighed in on CRBG. Morgan Stanley increased their price objective on Corebridge Financial from $31.00 to $34.00 and gave the stock an “equal weight” rating in a research report on Tuesday, November 5th. BMO Capital Markets started coverage on Corebridge Financial in a research note on Thursday, January 23rd. They set an “outperform” rating and a $43.00 target price for the company. Barclays raised Corebridge Financial from an “equal weight” rating to an “overweight” rating and set a $37.00 target price for the company in a research note on Monday, January 6th. Deutsche Bank Aktiengesellschaft raised Corebridge Financial from a “hold” rating to a “buy” rating and increased their target price for the stock from $33.00 to $40.00 in a research note on Friday, January 10th. Finally, Wells Fargo & Company cut their target price on Corebridge Financial from $37.00 to $35.00 and set an “overweight” rating for the company in a research note on Tuesday, January 14th.

Insider Buying and Selling at Corebridge Financial

In other Corebridge Financial news, major shareholder International Group American sold 121,956,256 shares of the stock in a transaction on Monday, December 9th. The stock was sold at an average price of $31.47, for a total transaction of $3,837,963,376.32. Following the sale, the insider now owns 127,282,642 shares in the company, valued at approximately $4,005,584,743.74. This represents a 48.93 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.08% of the stock is owned by insiders.

Institutional Investors Weigh In On Corebridge Financial

Several hedge funds have recently made changes to their positions in the business. EverSource Wealth Advisors LLC boosted its holdings in shares of Corebridge Financial by 25.1% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,642 shares of the company’s stock worth $49,000 after purchasing an additional 329 shares during the last quarter. Smartleaf Asset Management LLC boosted its holdings in shares of Corebridge Financial by 112.4% during the fourth quarter. Smartleaf Asset Management LLC now owns 907 shares of the company’s stock worth $27,000 after purchasing an additional 480 shares during the last quarter. Covestor Ltd boosted its holdings in shares of Corebridge Financial by 118.8% during the third quarter. Covestor Ltd now owns 1,050 shares of the company’s stock worth $31,000 after purchasing an additional 570 shares during the last quarter. The Manufacturers Life Insurance Company boosted its holdings in shares of Corebridge Financial by 2.8% during the second quarter. The Manufacturers Life Insurance Company now owns 21,479 shares of the company’s stock worth $625,000 after purchasing an additional 585 shares during the last quarter. Finally, Sanctuary Advisors LLC boosted its holdings in shares of Corebridge Financial by 3.1% during the fourth quarter. Sanctuary Advisors LLC now owns 22,182 shares of the company’s stock worth $664,000 after purchasing an additional 660 shares during the last quarter. Institutional investors and hedge funds own 98.25% of the company’s stock.

Corebridge Financial Stock Down 1.0 %

Corebridge Financial stock opened at $33.12 on Thursday. Corebridge Financial has a twelve month low of $23.34 and a twelve month high of $34.66. The stock has a 50 day moving average of $31.36 and a two-hundred day moving average of $30.08. The company has a current ratio of 0.14, a quick ratio of 0.14 and a debt-to-equity ratio of 0.83. The stock has a market capitalization of $18.84 billion, a price-to-earnings ratio of -15.84, a PEG ratio of 0.37 and a beta of 0.94.

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.