Mizuho Begins Coverage on Corebridge Financial (NYSE:CRBG)

Research analysts at Mizuho started coverage on shares of Corebridge Financial (NYSE:CRBG) in a report issued on Tuesday, MarketBeat.com reports. The brokerage set an “outperform” rating and a $38.00 price target on the stock. Mizuho’s target price would suggest a potential upside of 24.57% from the stock’s previous close.

Several other research analysts have also commented on CRBG. Weiss Ratings reissued a “buy (b-)” rating on shares of Corebridge Financial in a research note on Monday, December 8th. Morgan Stanley reiterated an “equal weight” rating and set a $33.00 target price (down from $39.00) on shares of Corebridge Financial in a report on Monday, November 17th. Wells Fargo & Company decreased their price target on shares of Corebridge Financial from $44.00 to $43.00 and set an “overweight” rating for the company in a research report on Wednesday, November 5th. Evercore ISI cut their price objective on Corebridge Financial from $38.00 to $37.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 5th. Finally, Wolfe Research started coverage on Corebridge Financial in a research note on Friday, October 10th. They issued a “peer perform” rating on the stock. Nine analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $39.27.

Corebridge Financial Trading Down 4.7%

CRBG opened at $30.51 on Tuesday. Corebridge Financial has a 52 week low of $23.69 and a 52 week high of $36.57. The company has a quick ratio of 0.13, a current ratio of 0.13 and a debt-to-equity ratio of 0.77. The business has a fifty day simple moving average of $30.57 and a 200-day simple moving average of $32.70. The firm has a market cap of $15.88 billion, a P/E ratio of 18.16, a P/E/G ratio of 0.44 and a beta of 1.04.

Corebridge Financial (NYSE:CRBG) last posted its earnings results on Tuesday, November 4th. The company reported $0.96 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.08 by ($0.12). The firm had revenue of $5.63 billion for the quarter, compared to analyst estimates of $4.85 billion. Corebridge Financial had a return on equity of 19.90% and a net margin of 5.01%.Corebridge Financial’s revenue was up 34.2% on a year-over-year basis. During the same period in the previous year, the company posted $1.23 EPS. On average, equities analysts expect that Corebridge Financial will post 5.43 earnings per share for the current year.

Institutional Trading of Corebridge Financial

A number of institutional investors have recently bought and sold shares of the business. IFP Advisors Inc increased its holdings in shares of Corebridge Financial by 1,223.6% in the 2nd quarter. IFP Advisors Inc now owns 728 shares of the company’s stock valued at $26,000 after acquiring an additional 673 shares during the last quarter. Allworth Financial LP purchased a new position in Corebridge Financial in the second quarter valued at approximately $26,000. Community Bank N.A. purchased a new position in Corebridge Financial in the third quarter valued at approximately $26,000. Smartleaf Asset Management LLC raised its holdings in Corebridge Financial by 83.6% during the third quarter. Smartleaf Asset Management LLC now owns 828 shares of the company’s stock worth $27,000 after purchasing an additional 377 shares in the last quarter. Finally, Root Financial Partners LLC purchased a new stake in shares of Corebridge Financial during the 3rd quarter worth approximately $32,000. 98.25% of the stock is owned by hedge funds and other institutional investors.

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.