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

Corebridge Financial, Inc. (NYSE:CRBG) has earned a consensus recommendation of “Moderate Buy” from the thirteen research firms that are presently covering the stock, MarketBeat.com reports. Three investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The average 1 year target price among brokers that have covered the stock in the last year is $34.46.

CRBG has been the topic of a number of research analyst reports. TD Cowen started coverage on Corebridge Financial in a report on Wednesday, October 9th. They set a “buy” rating and a $35.00 price target on the stock. Barclays raised their price target on Corebridge Financial from $33.00 to $34.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 8th. Morgan Stanley decreased their target price on shares of Corebridge Financial from $33.00 to $31.00 and set an “equal weight” rating for the company in a research report on Monday, August 19th. Bank of America cut their target price on Corebridge Financial from $40.00 to $38.00 and set a “buy” rating on the stock in a report on Thursday, July 11th. Finally, Royal Bank of Canada lowered their price target on Corebridge Financial from $33.00 to $32.00 and set an “outperform” rating on the stock in a report on Friday, August 2nd.

Insider Buying and Selling

In related news, major shareholder International Group American sold 8,032,129 shares of the business’s stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $24.90, for a total transaction of $200,000,012.10. Following the transaction, the insider now directly owns 284,238,898 shares of the company’s stock, valued at approximately $7,077,548,560.20. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.08% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Corebridge Financial

Institutional investors have recently made changes to their positions in the company. Versor Investments LP raised its stake in Corebridge Financial by 26.4% in the 3rd quarter. Versor Investments LP now owns 26,800 shares of the company’s stock worth $781,000 after purchasing an additional 5,600 shares in the last quarter. Jupiter Wealth Management LLC acquired a new stake in shares of Corebridge Financial during the 3rd quarter worth approximately $117,000. Intrinsic Value Partners LLC bought a new stake in shares of Corebridge Financial during the 3rd quarter worth $712,000. Covestor Ltd lifted its holdings in shares of Corebridge Financial by 118.8% in the third quarter. Covestor Ltd now owns 1,050 shares of the company’s stock worth $31,000 after acquiring an additional 570 shares during the last quarter. Finally, Kerusso Capital Management LLC boosted its position in Corebridge Financial by 6.5% in the third quarter. Kerusso Capital Management LLC now owns 121,755 shares of the company’s stock valued at $3,550,000 after buying an additional 7,385 shares in the last quarter. Institutional investors own 98.25% of the company’s stock.

Corebridge Financial Trading Down 0.2 %

NYSE:CRBG opened at $31.55 on Tuesday. The stock has a fifty day simple moving average of $29.44 and a 200 day simple moving average of $29.05. The firm has a market capitalization of $18.68 billion, a price-to-earnings ratio of 9.83, a price-to-earnings-growth ratio of 0.44 and a beta of 0.90. The company has a quick ratio of 0.14, a current ratio of 0.14 and a debt-to-equity ratio of 0.97. Corebridge Financial has a 1-year low of $18.83 and a 1-year high of $34.66.

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.