Corebridge Financial, Inc. (NYSE:CRBG – Get Free Report) has been given a consensus recommendation of “Moderate Buy” by the fifteen ratings firms that are covering the company, MarketBeat.com reports. Six equities research analysts have rated the stock with a hold recommendation and nine have given a buy recommendation to the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $35.1667.
Several equities research analysts have recently issued reports on CRBG shares. JPMorgan Chase & Co. lowered their price objective on shares of Corebridge Financial from $37.00 to $36.00 and set a “neutral” rating on the stock in a research note on Tuesday, May 12th. TD Cowen lowered their price objective on shares of Corebridge Financial from $38.00 to $35.00 and set a “buy” rating on the stock in a research note on Tuesday, March 10th. UBS Group decreased their price target on shares of Corebridge Financial from $33.00 to $29.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 28th. Zacks Research raised shares of Corebridge Financial from a “strong sell” rating to a “hold” rating in a report on Monday. Finally, Barclays dropped their price objective on shares of Corebridge Financial from $33.00 to $30.00 and set an “overweight” rating for the company in a research note on Wednesday, April 8th.
Read Our Latest Stock Report on CRBG
Corebridge Financial Trading Up 0.3%
Corebridge Financial (NYSE:CRBG – Get Free Report) last announced its quarterly earnings data on Wednesday, May 6th. The company reported $1.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.07 by ($0.02). The company had revenue of $4.09 billion during the quarter, compared to analyst estimates of $5.06 billion. Corebridge Financial had a return on equity of 18.44% and a net margin of 1.20%.During the same quarter in the previous year, the business posted $1.16 EPS. As a group, sell-side analysts expect that Corebridge Financial will post 4.75 EPS for the current year.
Corebridge Financial Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 16th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 3.6%. The ex-dividend date is Tuesday, June 16th. Corebridge Financial’s payout ratio is 181.82%.
Institutional Trading of Corebridge Financial
Several institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. boosted its position in shares of Corebridge Financial by 1.2% during the 4th quarter. Vanguard Group Inc. now owns 27,143,048 shares of the company’s stock valued at $818,906,000 after acquiring an additional 311,133 shares in the last quarter. Pzena Investment Management LLC boosted its position in shares of Corebridge Financial by 14.4% during the 1st quarter. Pzena Investment Management LLC now owns 27,045,794 shares of the company’s stock valued at $645,313,000 after acquiring an additional 3,413,384 shares in the last quarter. Norges Bank acquired a new stake in shares of Corebridge Financial during the 4th quarter valued at about $611,550,000. State Street Corp boosted its position in shares of Corebridge Financial by 44.3% during the 4th quarter. State Street Corp now owns 11,295,692 shares of the company’s stock valued at $340,791,000 after acquiring an additional 3,465,371 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in shares of Corebridge Financial by 43.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 8,870,085 shares of the company’s stock valued at $211,575,000 after acquiring an additional 2,689,611 shares in the last quarter. 98.25% of the stock is currently owned by institutional investors and hedge funds.
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.
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