Corebridge Financial (NYSE:CRBG) Issues Quarterly Earnings Results

Corebridge Financial (NYSE:CRBG) posted its earnings results on Friday. The company reported $1.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.05 by $0.05, Briefing.com reports. The firm had revenue of $5.85 billion during the quarter, compared to analysts’ expectations of $5.50 billion. Corebridge Financial had a return on equity of 23.11% and a net margin of 5.92%. During the same period in the previous year, the firm earned $0.97 earnings per share.

Corebridge Financial Stock Up 2.0 %

NYSE:CRBG opened at $28.68 on Monday. Corebridge Financial has a twelve month low of $14.91 and a twelve month high of $29.53. The firm has a market capitalization of $17.85 billion, a price-to-earnings ratio of 7.55, a price-to-earnings-growth ratio of 0.33 and a beta of 0.96. The company has a quick ratio of 0.14, a current ratio of 0.14 and a debt-to-equity ratio of 0.92. The stock’s 50 day moving average price is $26.61 and its two-hundred day moving average price is $23.71.

Corebridge Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were paid a $0.23 dividend. The ex-dividend date was Thursday, March 14th. This represents a $0.92 dividend on an annualized basis and a yield of 3.21%. Corebridge Financial’s dividend payout ratio is 24.21%.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Wells Fargo & Company boosted their price objective on Corebridge Financial from $30.00 to $33.00 and gave the company an “overweight” rating in a research report on Thursday, April 11th. The Goldman Sachs Group increased their price objective on shares of Corebridge Financial from $27.00 to $31.00 and gave the stock a “buy” rating in a research report on Tuesday, January 9th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $32.00 price objective on shares of Corebridge Financial in a research report on Friday, April 12th. Morgan Stanley increased their target price on Corebridge Financial from $26.00 to $28.00 and gave the stock an “equal weight” rating in a report on Monday, April 15th. Finally, Evercore ISI lifted their price target on Corebridge Financial from $30.00 to $32.00 and gave the company an “outperform” rating in a research note on Thursday, April 11th. Three investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $29.08.

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.