Corebridge Financial (NYSE:CRBG) Rating Increased to Buy at Deutsche Bank Aktiengesellschaft

Corebridge Financial (NYSE:CRBGGet Free Report) was upgraded by analysts at Deutsche Bank Aktiengesellschaft from a “hold” rating to a “buy” rating in a research note issued on Friday, MarketBeat.com reports. The firm presently has a $40.00 price objective on the stock, up from their previous price objective of $33.00. Deutsche Bank Aktiengesellschaft’s price objective points to a potential upside of 27.59% from the company’s previous close.

A number of other brokerages have also commented on CRBG. Morgan Stanley increased their price objective on shares of Corebridge Financial from $31.00 to $34.00 and gave the stock an “equal weight” rating in a report on Tuesday, November 5th. DOWLING & PARTN lowered shares of Corebridge Financial from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 26th. TD Cowen increased their price target on shares of Corebridge Financial from $35.00 to $37.00 and gave the company a “buy” rating in a research note on Wednesday, November 27th. Piper Sandler boosted their price objective on shares of Corebridge Financial from $34.00 to $35.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 18th. Finally, Barclays upgraded Corebridge Financial from an “equal weight” rating to an “overweight” rating and set a $37.00 price objective on the stock in a research report on Monday. Three equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $35.85.

View Our Latest Report on Corebridge Financial

Corebridge Financial Stock Up 0.2 %

Shares of CRBG opened at $31.35 on Friday. The company has a market capitalization of $17.83 billion, a P/E ratio of -15.00, a PEG ratio of 0.39 and a beta of 0.92. Corebridge Financial has a one year low of $23.01 and a one year high of $34.66. The business’s 50 day simple moving average is $30.94 and its 200-day simple moving average is $29.64. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.14 and a quick ratio of 0.14.

Corebridge Financial (NYSE:CRBGGet Free Report) last posted its quarterly earnings data on Monday, November 4th. The company reported $1.38 EPS for the quarter, topping analysts’ consensus estimates of $1.17 by $0.21. The company had revenue of $5.53 billion for the quarter, compared to analyst estimates of $5.66 billion. Corebridge Financial had a positive return on equity of 22.24% and a negative net margin of 6.10%. The business’s revenue was up 39.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.05 earnings per share. As a group, sell-side analysts predict that Corebridge Financial will post 4.81 EPS for the current fiscal year.

Insiders Place Their Bets

In other Corebridge Financial news, major shareholder International Group American sold 30,000,000 shares of Corebridge Financial stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $31.20, for a total transaction of $936,000,000.00. Following the transaction, the insider now directly owns 249,238,898 shares in the company, valued at approximately $7,776,253,617.60. The trade was a 10.74 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.08% of the company’s stock.

Institutional Investors Weigh In On Corebridge Financial

Several large investors have recently modified their holdings of CRBG. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Corebridge Financial in the 3rd quarter valued at approximately $27,000. Fortitude Family Office LLC bought a new position in Corebridge Financial in the fourth quarter valued at approximately $27,000. Capital Performance Advisors LLP acquired a new position in shares of Corebridge Financial in the third quarter valued at approximately $28,000. ORG Wealth Partners LLC acquired a new position in shares of Corebridge Financial in the third quarter valued at approximately $29,000. Finally, HM Payson & Co. bought a new stake in shares of Corebridge Financial during the third quarter worth $29,000. 98.25% of the stock is currently owned by institutional investors.

About Corebridge Financial

(Get Free Report)

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.

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Analyst Recommendations for Corebridge Financial (NYSE:CRBG)

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