Corebridge Financial (NYSE:CRBG – Get Free Report) released its quarterly earnings data on Tuesday. The company reported $1.12 earnings per share for the quarter, beating the consensus estimate of $1.08 by $0.04, Zacks reports. Corebridge Financial had a return on equity of 16.68% and a net margin of 4.37%.The firm had revenue of $4.30 billion during the quarter, compared to the consensus estimate of $4.66 billion. During the same period in the previous year, the company posted $1.36 earnings per share.
Corebridge Financial Stock Up 1.1%
Shares of CRBG stock traded up $0.36 during trading hours on Thursday, reaching $33.95. 1,803,931 shares of the company’s stock were exchanged, compared to its average volume of 5,118,707. Corebridge Financial has a 1 year low of $22.19 and a 1 year high of $35.22. The stock has a market cap of $15.14 billion, a PE ratio of 19.87, a PEG ratio of 0.40 and a beta of 1.08. The company has a current ratio of 0.12, a quick ratio of 0.12 and a debt-to-equity ratio of 0.99. The stock’s fifty day moving average price is $29.63 and its two-hundred day moving average price is $28.00.
Corebridge Financial Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Wednesday, September 16th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 2.9%. The ex-dividend date of this dividend is Wednesday, September 16th. Corebridge Financial’s dividend payout ratio (DPR) is currently 58.48%.
Analyst Upgrades and Downgrades
Get Our Latest Stock Analysis on Corebridge Financial
Insider Activity at Corebridge Financial
In other news, insider David Ditillo sold 4,250 shares of the business’s stock in a transaction on Monday, July 6th. The shares were sold at an average price of $30.00, for a total transaction of $127,500.00. Following the sale, the insider directly owned 128,153 shares of the company’s stock, valued at $3,844,590. The trade was a 3.21% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.29% of the company’s stock.
Institutional Trading of Corebridge Financial
Several large investors have recently added to or reduced their stakes in CRBG. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in Corebridge Financial in the second quarter valued at approximately $75,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its stake in Corebridge Financial by 102.2% during the 2nd quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 2,313 shares of the company’s stock valued at $82,000 after acquiring an additional 1,169 shares during the period. UMB Bank n.a. boosted its holdings in shares of Corebridge Financial by 21.8% in the 4th quarter. UMB Bank n.a. now owns 4,342 shares of the company’s stock valued at $131,000 after acquiring an additional 778 shares during the last quarter. Van ECK Associates Corp increased its stake in shares of Corebridge Financial by 10.2% in the fourth quarter. Van ECK Associates Corp now owns 4,684 shares of the company’s stock worth $141,000 after acquiring an additional 435 shares during the period. Finally, Focus Partners Wealth purchased a new position in shares of Corebridge Financial during the third quarter worth $151,000. Hedge funds and other 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.
Featured Articles
- Five stocks we like better than Corebridge Financial
- Disney Sets Up for a Magical Year in 2027
- Astera Labs’ Post-Earnings Pullback May Be Last Chance to Buy Below $360
- McDonald’s Stock Sell-Off: Justified Warning or Buying Opportunity?
- Why Brown-Forman Rejected a 23% Premium Twice
Receive News & Ratings for Corebridge Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Corebridge Financial and related companies with MarketBeat.com's FREE daily email newsletter.
