Corebridge Financial, Inc. (NYSE:CRBG – Get Free Report) has been given an average recommendation of “Moderate Buy” by the fifteen analysts that are covering the company, MarketBeat.com reports. Six investment analysts have rated the stock with a hold recommendation and nine have issued a buy recommendation on the company. The average 12-month price objective among analysts that have covered the stock in the last year is $36.75.
A number of analysts have recently issued reports on CRBG shares. Wells Fargo & Company lifted their price target on Corebridge Financial from $35.00 to $36.00 and gave the stock an “overweight” rating in a research note on Thursday, July 9th. Jefferies Financial Group raised their price objective on Corebridge Financial from $43.00 to $45.00 and gave the company a “buy” rating in a report on Friday, July 10th. Barclays lifted their target price on shares of Corebridge Financial from $30.00 to $33.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 7th. JPMorgan Chase & Co. dropped their target price on shares of Corebridge Financial from $37.00 to $36.00 and set a “neutral” rating for the company in a report on Tuesday, May 12th. Finally, Mizuho increased their target price on shares of Corebridge Financial from $35.00 to $36.00 and gave the company an “outperform” rating in a research report on Thursday, July 9th.
Check Out Our Latest Research Report on CRBG
Insider Buying and Selling
Institutional Investors Weigh In On Corebridge Financial
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Salomon & Ludwin LLC boosted its stake in Corebridge Financial by 179.7% during the fourth quarter. Salomon & Ludwin LLC now owns 828 shares of the company’s stock worth $26,000 after buying an additional 532 shares during the last quarter. Rothschild Investment LLC increased its stake in shares of Corebridge Financial by 133.3% in the 4th quarter. Rothschild Investment LLC now owns 910 shares of the company’s stock worth $27,000 after acquiring an additional 520 shares during the last quarter. Sonoma Allocations LLC acquired a new stake in shares of Corebridge Financial in the 1st quarter worth $30,000. True Wealth Design LLC raised its holdings in shares of Corebridge Financial by 50.2% during the 4th quarter. True Wealth Design LLC now owns 1,233 shares of the company’s stock worth $37,000 after acquiring an additional 412 shares during the period. Finally, Versant Capital Management Inc raised its holdings in shares of Corebridge Financial by 1,124.2% during the 2nd quarter. Versant Capital Management Inc now owns 1,616 shares of the company’s stock worth $46,000 after acquiring an additional 1,484 shares during the period. Institutional investors and hedge funds own 98.25% of the company’s stock.
Corebridge Financial Trading Up 0.6%
Shares of Corebridge Financial stock opened at $31.72 on Thursday. The company has a current ratio of 0.12, a quick ratio of 0.12 and a debt-to-equity ratio of 0.99. Corebridge Financial has a twelve month low of $22.19 and a twelve month high of $36.57. The firm has a market capitalization of $14.14 billion, a PE ratio of 57.67, a P/E/G ratio of 0.39 and a beta of 1.10. The firm’s 50-day moving average price is $28.76 and its 200 day moving average price is $27.91.
Corebridge Financial (NYSE:CRBG – Get Free Report) last posted its quarterly earnings data on Wednesday, May 6th. The company reported $1.05 EPS for the quarter, missing the consensus estimate of $1.07 by ($0.02). Corebridge Financial had a return on equity of 18.44% and a net margin of 1.20%.The firm had revenue of $4.08 billion for the quarter, compared to analysts’ expectations of $5.06 billion. During the same quarter last year, the firm posted $1.16 earnings per share. On average, sell-side analysts predict that Corebridge Financial will post 4.63 EPS for the current fiscal year.
Corebridge Financial Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Tuesday, June 16th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 3.2%. The ex-dividend date of this dividend was Tuesday, June 16th. Corebridge Financial’s dividend payout ratio is currently 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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