Corebridge Financial (NYSE:CRBG) Stock Rating Lowered by UBS Group

Corebridge Financial (NYSE:CRBG) was downgraded by analysts at UBS Group from a “buy” rating to a “sell” rating in a report issued on Wednesday, MarketBeat.com reports. They currently have a $28.00 price target on the stock, down from their previous price target of $40.00. UBS Group’s target price points to a potential downside of 2.18% from the company’s previous close.

CRBG has been the subject of several other research reports. Deutsche Bank Aktiengesellschaft upgraded Corebridge Financial from a “hold” rating to a “buy” rating and increased their price objective for the stock from $33.00 to $40.00 in a report on Friday, January 10th. Barclays raised shares of 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, January 6th. Piper Sandler raised their target price 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. Wells Fargo & Company lifted their price objective on Corebridge Financial from $35.00 to $38.00 and gave the company an “overweight” rating in a research report on Wednesday, February 19th. Finally, BMO Capital Markets initiated coverage on Corebridge Financial in a research report on Thursday, January 23rd. They issued an “outperform” rating and a $43.00 target price for the company. One analyst has rated the stock with a sell rating, two have assigned a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat, Corebridge Financial has a consensus rating of “Moderate Buy” and a consensus price target of $37.00.

Corebridge Financial Stock Down 10.3 %

Shares of NYSE CRBG opened at $28.63 on Wednesday. The firm’s fifty day moving average is $32.63 and its 200 day moving average is $31.30. Corebridge Financial has a 52 week low of $23.97 and a 52 week high of $35.36. The company has a quick ratio of 0.13, a current ratio of 0.13 and a debt-to-equity ratio of 0.16. The company has a market cap of $15.92 billion, a price-to-earnings ratio of 7.57, a PEG ratio of 0.43 and a beta of 0.92.

Corebridge Financial (NYSE:CRBG) last released its quarterly earnings data on Wednesday, February 12th. The company reported $1.23 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.27 by ($0.04). Corebridge Financial had a net margin of 11.39% and a return on equity of 22.69%. On average, equities research analysts expect that Corebridge Financial will post 5.43 earnings per share for the current year.

Institutional Trading of Corebridge Financial

Several institutional investors have recently bought and sold shares of CRBG. Fortitude Family Office LLC bought a new position in shares of Corebridge Financial in the fourth quarter worth approximately $27,000. Smartleaf Asset Management LLC raised its holdings in Corebridge Financial by 112.4% in the 4th quarter. Smartleaf Asset Management LLC now owns 907 shares of the company’s stock worth $27,000 after acquiring an additional 480 shares during the last quarter. FNY Investment Advisers LLC bought a new position in Corebridge Financial in the 4th quarter valued at approximately $27,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Corebridge Financial during the 3rd quarter valued at $27,000. Finally, Oarsman Capital Inc. bought a new stake in shares of Corebridge Financial in the 4th quarter worth $30,000. 98.25% of the stock is owned by hedge funds and other institutional investors.

About Corebridge Financial

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.