Brokerages Set Corebridge Financial, Inc. (NYSE:CRBG) PT at $36.75

Corebridge Financial, Inc. (NYSE:CRBG) has been given an average rating of “Moderate Buy” by the fifteen research firms that are presently covering the firm, Marketbeat Ratings reports. Six 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 brokers that have issued a report on the stock in the last year is $37.1667.

Several analysts have weighed in on CRBG shares. Zacks Research raised shares of Corebridge Financial from a “strong sell” rating to a “hold” rating in a research note on Monday, June 22nd. TD Cowen increased their target price on Corebridge Financial from $35.00 to $38.00 and gave the stock a “buy” rating in a report on Wednesday, July 22nd. UBS Group raised their target price on Corebridge Financial from $29.00 to $32.00 and gave the company a “neutral” rating in a research note on Wednesday, July 8th. Keefe, Bruyette & Woods lifted their price target on Corebridge Financial from $40.00 to $43.00 and gave the company an “outperform” rating in a report on Tuesday, August 11th. Finally, Mizuho upped their price target on shares of Corebridge Financial from $35.00 to $36.00 and gave the stock an “outperform” rating in a research report on Thursday, July 9th.

Corebridge Financial Stock Up 0.0%

Shares of CRBG opened at $34.48 on Monday. The company has a quick ratio of 0.12, a current ratio of 0.12 and a debt-to-equity ratio of 0.14. The company has a 50-day moving average price of $30.66 and a two-hundred day moving average price of $28.18. The stock has a market cap of $15.37 billion, a price-to-earnings ratio of 20.16, a P/E/G ratio of 0.44 and a beta of 1.08. Corebridge Financial has a 12 month low of $22.19 and a 12 month high of $35.22.

Corebridge Financial (NYSE:CRBG) last released its quarterly earnings data on Tuesday, August 4th. The company reported $1.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.08 by $0.04. Corebridge Financial had a return on equity of 17.37% and a net margin of 4.37%.The firm had revenue of $4.30 billion during the quarter, compared to analyst estimates of $4.66 billion. During the same period in the prior year, the company posted $1.36 earnings per share. Equities analysts predict that Corebridge Financial will post 4.58 EPS for the current fiscal year.

Corebridge Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Wednesday, September 16th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 2.9%. The ex-dividend date of this dividend is Wednesday, September 16th. Corebridge Financial’s dividend payout ratio is 58.48%.

Insider Buying and Selling at Corebridge Financial

In related news, insider David Ditillo sold 12,414 shares of the business’s stock in a transaction that occurred on Thursday, August 6th. The shares were sold at an average price of $34.00, for a total value of $422,076.00. Following the completion of the transaction, the insider owned 111,153 shares in the company, valued at $3,779,202. The trade was a 10.05% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.32% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of CRBG. Salomon & Ludwin LLC raised its position in shares of 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 acquiring an additional 532 shares during the last quarter. Rothschild Investment LLC lifted its stake in shares of Corebridge Financial by 133.3% during the fourth quarter. Rothschild Investment LLC now owns 910 shares of the company’s stock valued at $27,000 after acquiring an additional 520 shares during the period. Bell Investment Advisors Inc bought a new position in Corebridge Financial in the second quarter valued at about $27,000. Sonoma Allocations LLC bought a new position in Corebridge Financial in the first quarter valued at about $30,000. Finally, Allworth Financial LP acquired a new stake in Corebridge Financial in the second quarter worth about $41,000. Institutional investors and hedge funds 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.