Elyse Greenspan, an analyst from Wells Fargo, maintained the Buy rating on Corebridge Financial, Inc. (CRBG – Research Report). The associated price target was raised to $42.00.
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Elyse Greenspan has given her Buy rating due to a combination of factors including the strategic transaction that Corebridge Financial, Inc. has undertaken. The recent deal removes a low multiple business, which is expected to enhance the company’s valuation, leading to a higher price target of $42, up from $37. Despite a slight reduction in 2026 earnings estimates due to the transaction, the long-term outlook remains positive with an anticipated increase in earnings per share by 2027.
Furthermore, the transaction positions Corebridge to execute substantial share buybacks, with $1.7 billion expected in 2025 and $3 billion in 2026, which should support the stock’s upward re-rating. The company’s ability to exceed its usual payout ratio post-transaction and the potential for additional value-creating deals further bolster the Buy recommendation. These strategic moves are seen as beneficial for shareholders, aligning with the company’s goal to enhance economic value and structure.
In another report released on June 27, KBW also maintained a Buy rating on the stock with a $39.00 price target.
Based on the recent corporate insider activity of 56 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of CRBG in relation to earlier this year.