Corebridge Financial, Inc. (NYSE:CRBG) Given Average Rating of “Moderate Buy” by Analysts

Corebridge Financial, Inc. (NYSE:CRBG) has been assigned a consensus recommendation of “Moderate Buy” from the fifteen brokerages that are presently covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, five have issued a hold recommendation, eight have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $35.9167.

CRBG has been the topic of several analyst reports. Barclays reduced their price objective on shares of Corebridge Financial from $33.00 to $30.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 8th. Morgan Stanley cut their price target on shares of Corebridge Financial from $35.00 to $32.00 and set an “equal weight” rating on the stock in a research report on Tuesday, March 3rd. TD Cowen cut their price target on shares of Corebridge Financial from $38.00 to $35.00 and set a “buy” rating on the stock in a research report on Tuesday, March 10th. Piper Sandler raised shares of Corebridge Financial to a “strong-buy” rating in a research report on Thursday, April 2nd. Finally, Mizuho upped their price target on shares of Corebridge Financial from $31.00 to $35.00 and gave the company an “outperform” rating in a research report on Thursday.

Institutional Trading of Corebridge Financial

Institutional investors have recently bought and sold shares of the company. Community Bank N.A. bought a new stake in Corebridge Financial during the third quarter valued at $26,000. Smartleaf Asset Management LLC boosted its position in Corebridge Financial by 83.6% during the third quarter. Smartleaf Asset Management LLC now owns 828 shares of the company’s stock valued at $27,000 after acquiring an additional 377 shares during the last quarter. Salomon & Ludwin LLC boosted its position in Corebridge Financial by 179.7% during the fourth quarter. Salomon & Ludwin LLC now owns 828 shares of the company’s stock valued at $26,000 after acquiring an additional 532 shares during the last quarter. Rothschild Investment LLC boosted its position in 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 last quarter. Finally, Root Financial Partners LLC bought a new stake in Corebridge Financial during the third quarter valued at $32,000. Institutional investors own 98.25% of the company’s stock.

Corebridge Financial Stock Performance

Shares of Corebridge Financial stock opened at $27.27 on Friday. The company has a quick ratio of 0.12, a current 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 stock has a market cap of $13.14 billion, a price-to-earnings ratio of 49.59, a P/E/G ratio of 0.38 and a beta of 1.18. The company’s fifty day moving average is $25.27 and its 200 day moving average is $28.61.

Corebridge Financial (NYSE:CRBG) last issued its quarterly earnings data on Monday, May 4th. The company reported $1.05 earnings per share 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 business had revenue of $4.09 billion during the quarter, compared to the consensus estimate of $5.06 billion. During the same period in the prior year, the firm earned $1.16 EPS. Sell-side analysts forecast that Corebridge Financial will post 4.92 EPS for the current year.

Corebridge Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 16th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Tuesday, June 16th. This represents a $1.00 dividend on an annualized basis and a yield of 3.7%. Corebridge Financial’s dividend payout ratio is 181.82%.

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.