Corebridge Financial Target of Unusually High Options Trading (NYSE:CRBG)

Corebridge Financial, Inc. (NYSE:CRBG) saw unusually large options trading activity on Tuesday. Stock investors acquired 12,894 put options on the company. This is an increase of approximately 253% compared to the average daily volume of 3,655 put options.

Corebridge Financial Trading Up 2.6 %

NYSE:CRBG opened at $30.82 on Thursday. Corebridge Financial has a one year low of $16.13 and a one year high of $30.85. The company has a market cap of $19.19 billion, a PE ratio of 8.11, a PEG ratio of 0.33 and a beta of 0.96. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.14 and a quick ratio of 0.14. The firm has a 50-day moving average of $26.81 and a 200-day moving average of $23.84.

Corebridge Financial (NYSE:CRBG) last issued its quarterly earnings data on Friday, May 3rd. The company reported $1.10 EPS for the quarter, topping the consensus estimate of $1.05 by $0.05. Corebridge Financial had a return on equity of 24.31% and a net margin of 11.25%. The firm had revenue of $5.85 billion during the quarter, compared to the consensus estimate of $5.50 billion. During the same period in the prior year, the business posted $0.97 earnings per share. As a group, equities research analysts expect that Corebridge Financial will post 4.82 EPS for the current fiscal year.

Corebridge Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 14th will be paid a $0.23 dividend. The ex-dividend date of this dividend is Friday, June 14th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.99%. Corebridge Financial’s payout ratio is presently 24.21%.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. Evercore ISI increased their price objective on shares of Corebridge Financial from $30.00 to $32.00 and gave the company an “outperform” rating in a research note on Thursday, April 11th. Wells Fargo & Company increased their price target on Corebridge Financial from $30.00 to $33.00 and gave the stock an “overweight” rating in a report on Thursday, April 11th. Keefe, Bruyette & Woods upped their target price on Corebridge Financial from $35.00 to $38.00 and gave the company an “outperform” rating in a research report on Wednesday, April 10th. UBS Group lifted their target price on Corebridge Financial from $22.00 to $28.00 and gave the stock a “buy” rating in a report on Wednesday, January 10th. Finally, Morgan Stanley raised their price objective on shares of Corebridge Financial from $26.00 to $28.00 and gave the stock an “equal weight” rating in a research report on Monday, April 15th. Three equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $29.17.

Institutional Investors Weigh In On Corebridge Financial

A number of hedge funds have recently made changes to their positions in CRBG. Riverview Trust Co purchased a new position in shares of Corebridge Financial in the first quarter valued at $25,000. Commonwealth Equity Services LLC lifted its holdings in shares of Corebridge Financial by 5.6% in the first quarter. Commonwealth Equity Services LLC now owns 21,725 shares of the company’s stock worth $624,000 after buying an additional 1,149 shares in the last quarter. Mariner LLC boosted its position in shares of Corebridge Financial by 4.3% in the third quarter. Mariner LLC now owns 33,647 shares of the company’s stock valued at $665,000 after acquiring an additional 1,388 shares during the period. EverSource Wealth Advisors LLC purchased a new position in Corebridge Financial during the third quarter valued at approximately $28,000. Finally, Sciencast Management LP lifted its stake in Corebridge Financial by 15.7% in the 1st quarter. Sciencast Management LP now owns 11,170 shares of the company’s stock worth $321,000 after purchasing an additional 1,515 shares in the last quarter. 98.25% of the stock is currently owned by institutional investors.

Corebridge Financial Company Profile

Corebridge Financial, Inc provides retirement solutions and insurance products in the United States. The company 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.