Shares of Corebridge Financial, Inc. (NYSE:CRBG – Get Free Report) have been given an average recommendation of “Moderate Buy” by the fifteen ratings firms that are currently covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and nine have given a buy rating to the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $35.1667.
A number of research firms have weighed in on CRBG. JPMorgan Chase & Co. reduced their target price on Corebridge Financial from $37.00 to $36.00 and set a “neutral” rating on the stock in a report on Tuesday, May 12th. Wells Fargo & Company upped their target price on Corebridge Financial from $32.00 to $35.00 and gave the stock an “overweight” rating in a report on Tuesday, May 12th. Barclays reduced their target price on Corebridge Financial from $33.00 to $30.00 and set an “overweight” rating on the stock in a report on Wednesday, April 8th. Weiss Ratings downgraded Corebridge Financial from a “hold (c)” rating to a “hold (c-)” rating in a report on Tuesday, May 26th. Finally, Piper Sandler reduced their target price on Corebridge Financial from $35.00 to $31.00 and set an “overweight” rating on the stock in a report on Tuesday, May 26th.
Get Our Latest Research Report on CRBG
Institutional Inflows and Outflows
Corebridge Financial Stock Down 0.1%
Shares of NYSE:CRBG opened at $26.97 on Wednesday. Corebridge Financial has a 1 year low of $22.19 and a 1 year high of $36.57. The company has a market cap of $12.32 billion, a PE ratio of 49.03, a P/E/G ratio of 0.29 and a beta of 1.14. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.12 and a quick ratio of 0.12. The stock’s 50-day moving average is $25.91 and its 200 day moving average is $28.12.
Corebridge Financial (NYSE:CRBG – Get Free Report) last announced its quarterly earnings results on Wednesday, May 6th. The company reported $1.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.07 by ($0.02). Corebridge Financial had a net margin of 1.20% and a return on equity of 18.44%. The business had revenue of $4.09 billion for the quarter, compared to analysts’ expectations of $5.06 billion. During the same quarter in the prior year, the firm earned $1.16 EPS. Sell-side analysts anticipate that Corebridge Financial will post 4.89 EPS for the current year.
Corebridge Financial Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 16th will be issued a dividend of $0.25 per share. The ex-dividend date is Tuesday, June 16th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.7%. Corebridge Financial’s dividend payout ratio is 181.82%.
About Corebridge Financial
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.
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