Morgan Stanley Lowers Corebridge Financial (NYSE:CRBG) Price Target to $32.00

Corebridge Financial (NYSE:CRBG) had its price target lowered by stock analysts at Morgan Stanley from $35.00 to $32.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Morgan Stanley’s target price would suggest a potential upside of 20.75% from the stock’s current price.

Several other research firms also recently commented on CRBG. Wells Fargo & Company decreased their target price on shares of Corebridge Financial from $37.00 to $36.00 and set an “overweight” rating for the company in a research report on Wednesday, February 25th. JPMorgan Chase & Co. cut their price target on Corebridge Financial from $40.00 to $39.00 and set a “neutral” rating for the company in a research note on Monday, January 5th. Evercore lowered their price objective on Corebridge Financial from $38.00 to $37.00 and set an “outperform” rating for the company in a research note on Wednesday, November 5th. Zacks Research lowered Corebridge Financial from a “hold” rating to a “strong sell” rating in a report on Tuesday, January 27th. Finally, Weiss Ratings downgraded Corebridge Financial from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, January 15th. Seven equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $37.40.

Corebridge Financial Trading Up 5.6%

NYSE CRBG opened at $26.50 on Tuesday. The company has a quick ratio of 0.12, a current ratio of 0.12 and a debt-to-equity ratio of 0.11. Corebridge Financial has a 52 week low of $23.69 and a 52 week high of $36.57. The business has a 50 day moving average price of $29.94 and a 200-day moving average price of $31.10. The company has a market cap of $12.76 billion, a price-to-earnings ratio of -50.00, a P/E/G ratio of 0.36 and a beta of 1.11.

Corebridge Financial (NYSE:CRBG) last issued its earnings results on Monday, February 9th. The company reported $1.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.11 by $0.11. The company had revenue of $6.34 billion for the quarter, compared to analysts’ expectations of $5.02 billion. Corebridge Financial had a positive return on equity of 18.92% and a negative net margin of 1.73%.During the same period last year, the business earned $1.06 EPS. As a group, equities analysts expect that Corebridge Financial will post 5.43 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of CRBG. Allworth Financial LP purchased a new position in shares of Corebridge Financial in the 2nd quarter worth about $26,000. Community Bank N.A. bought a new stake in Corebridge Financial in the third quarter worth about $26,000. Smartleaf Asset Management LLC boosted its stake in Corebridge Financial by 83.6% in the third quarter. Smartleaf Asset Management LLC now owns 828 shares of the company’s stock valued at $27,000 after acquiring an additional 377 shares during the last quarter. Salomon & Ludwin LLC grew its position in shares of Corebridge Financial by 179.7% during the 4th quarter. Salomon & Ludwin LLC now owns 828 shares of the company’s stock valued at $26,000 after acquiring an additional 532 shares during the period. Finally, Rothschild Investment LLC increased its stake in shares of Corebridge Financial by 133.3% during the 4th quarter. Rothschild Investment LLC now owns 910 shares of the company’s stock worth $27,000 after purchasing an additional 520 shares during the last quarter. Institutional investors own 98.25% of the company’s stock.

Corebridge Financial Company Profile

Corebridge Financial (NYSE: CRBG) is a publicly traded provider of retirement, life insurance and asset management solutions. Formed from the separation of American International Group’s life and retirement operations, Corebridge focuses on helping individuals, employers and institutions manage retirement income, protect against longevity and mortality risks, and invest long-term savings. The company operates under a unified brand that brings together insurance products and investment capabilities to deliver integrated financial solutions.

Corebridge’s product suite includes retirement income and annuity products, individual and group life insurance, asset management and investment advisory services, and employer-sponsored retirement plan offerings.