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

Corebridge Financial (NYSE:CRBG) was downgraded by equities researchers at UBS Group from a “buy” rating to a “sell” rating in a report issued on Wednesday,Finviz reports. They presently have a $28.00 price target on the stock, down from their prior price target of $40.00. UBS Group’s price objective indicates a potential downside of 11.25% from the stock’s current price.

CRBG has been the topic of a number of other research reports. Barclays raised Corebridge Financial from an “equal weight” rating to an “overweight” rating and set a $37.00 target price on the stock in a research report on Monday, January 6th. Wells Fargo & Company boosted their price objective on shares of Corebridge Financial from $35.00 to $38.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 19th. BMO Capital Markets assumed coverage on shares of Corebridge Financial in a research report on Thursday, January 23rd. They issued an “outperform” rating and a $43.00 target price for the company. Deutsche Bank Aktiengesellschaft raised shares of Corebridge Financial from a “hold” rating to a “buy” rating and boosted their price target for the stock from $33.00 to $40.00 in a research report on Friday, January 10th. Finally, Piper Sandler lifted their target price on Corebridge Financial from $34.00 to $35.00 and gave the company an “overweight” rating in a research report on Wednesday, December 18th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $36.79.

Corebridge Financial Stock Performance

Shares of CRBG opened at $31.55 on Wednesday. The firm has a market cap of $17.54 billion, a P/E ratio of 8.35, a PEG ratio of 0.43 and a beta of 0.92. Corebridge Financial has a twelve month low of $23.97 and a twelve month high of $35.36. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.13 and a current ratio of 0.13. The firm’s 50 day moving average price is $32.72 and its two-hundred day moving average price is $31.32.

Corebridge Financial (NYSE:CRBG) last posted its quarterly earnings data on Wednesday, February 12th. The company reported $1.23 EPS for the quarter, missing the consensus estimate 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, analysts forecast that Corebridge Financial will post 5.43 EPS for the current fiscal year.

Institutional Investors Weigh In On Corebridge Financial

Hedge funds have recently bought and sold shares of the stock. Fortitude Family Office LLC bought a new position in shares of Corebridge Financial during the fourth quarter worth approximately $27,000. Smartleaf Asset Management LLC increased its position in Corebridge Financial by 112.4% during the 4th quarter. Smartleaf Asset Management LLC now owns 907 shares of the company’s stock worth $27,000 after buying an additional 480 shares during the period. FNY Investment Advisers LLC bought a new position in Corebridge Financial during the 4th quarter worth $27,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Corebridge Financial during the third quarter worth $27,000. Finally, Oarsman Capital Inc. bought a new stake in shares of Corebridge Financial in the fourth quarter valued at about $30,000. 98.25% of the stock is currently owned by institutional investors and hedge funds.

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.