Corebridge Financial, Inc. (NYSE:CRBG) Receives $24.20 Average Price Target from Analysts

Corebridge Financial, Inc. (NYSE:CRBG – Get Rating) has earned a consensus rating of “Moderate Buy” from the twelve analysts that are currently covering the firm, MarketBeat.com reports. Four equities research analysts have rated the stock with a hold recommendation and eight have given a buy recommendation to the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $24.20.

A number of equities research analysts have issued reports on the stock. The Goldman Sachs Group raised shares of Corebridge Financial from a “neutral” rating to a “buy” rating and decreased their target price for the company from $25.00 to $23.00 in a research note on Tuesday, April 4th. Citigroup assumed coverage on shares of Corebridge Financial in a research note on Monday, April 10th. They set a “neutral” rating for the company. Royal Bank of Canada reissued an “outperform” rating and set a $26.00 target price on shares of Corebridge Financial in a research note on Wednesday, April 5th. Finally, Wells Fargo & Company decreased their target price on shares of Corebridge Financial from $28.00 to $21.00 and set an “overweight” rating for the company in a research note on Wednesday, April 5th.

Corebridge Financial Stock Performance

Corebridge Financial stock opened at $17.24 on Tuesday. The company has a 50 day moving average price of $16.27 and a 200 day moving average price of $19.18. Corebridge Financial has a 52 week low of $14.01 and a 52 week high of $23.50. The company has a quick ratio of 0.15, a current ratio of 0.15 and a debt-to-equity ratio of 0.85.

Corebridge Financial (NYSE:CRBG – Get Rating) last posted its quarterly earnings data on Tuesday, May 9th. The company reported $0.97 EPS for the quarter, topping analysts’ consensus estimates of $0.84 by $0.13. The firm had revenue of $5.36 billion during the quarter, compared to analyst estimates of $4.21 billion. During the same period in the prior year, the business posted $1.15 EPS. On average, equities analysts forecast that Corebridge Financial will post 3.87 earnings per share for the current year.

Corebridge Financial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 30th. Stockholders of record on Friday, June 16th will be given a dividend of $0.23 per share. The ex-dividend date is Thursday, June 15th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 5.34%.

Hedge Funds Weigh In On Corebridge Financial

A number of large investors have recently modified their holdings of CRBG. Barclays PLC acquired a new position in shares of Corebridge Financial during the third quarter worth approximately $291,000. The Manufacturers Life Insurance Company acquired a new position in shares of Corebridge Financial during the third quarter worth approximately $8,368,000. UBS Group AG acquired a new position in shares of Corebridge Financial during the third quarter worth approximately $186,000. Bank of Montreal Can bought a new stake in shares of Corebridge Financial during the third quarter worth approximately $21,612,000. Finally, ExodusPoint Capital Management LP bought a new stake in shares of Corebridge Financial during the third quarter worth approximately $822,000. 22.16% of the stock is currently owned by institutional investors and hedge funds.

About Corebridge Financial

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Corebridge Financial, Inc provides retirement solutions and insurance products in the United States. It operates through Individual Retirement, Group Retirement, Life Insurance, and Institutional Markets segments. The Individual Retirement segment provides fixed annuities, fixed index annuities, variable annuities and retail mutual funds.