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

Shares of Corebridge Financial, Inc. (NYSE:CRBG) have been given a consensus rating of “Moderate Buy” by the eleven ratings firms that are presently covering the firm, MarketBeat.com reports. Three research analysts have rated the stock with a hold rating and eight have issued a buy rating on the company. The average 12-month price objective among analysts that have covered the stock in the last year is $29.17.

A number of research analysts recently commented on CRBG shares. Keefe, Bruyette & Woods increased their price target on Corebridge Financial from $35.00 to $38.00 and gave the company an “outperform” rating in a report on Wednesday, April 10th. Wells Fargo & Company increased their price objective on shares of Corebridge Financial from $30.00 to $33.00 and gave the company an “overweight” rating in a research note on Thursday, April 11th. Morgan Stanley boosted their target price 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. Evercore ISI lifted their price target on Corebridge Financial from $30.00 to $32.00 and gave the stock an “outperform” rating in a research note on Thursday, April 11th. Finally, Piper Sandler upped their price objective on Corebridge Financial from $34.00 to $35.00 and gave the company an “overweight” rating in a research note on Monday.

Corebridge Financial Stock Performance

Shares of NYSE CRBG opened at $29.21 on Tuesday. The company has a 50-day simple moving average of $26.71 and a 200-day simple moving average of $23.77. 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 company has a market cap of $18.18 billion, a PE ratio of 7.69, a price-to-earnings-growth ratio of 0.33 and a beta of 0.96. Corebridge Financial has a 12 month low of $16.13 and a 12 month high of $29.59.

Corebridge Financial (NYSE:CRBG) last released its earnings results on Friday, May 3rd. The company reported $1.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.05 by $0.05. The business had revenue of $5.85 billion for the quarter, compared to analysts’ expectations of $5.50 billion. Corebridge Financial had a net margin of 11.25% and a return on equity of 24.31%. During the same period last year, the company earned $0.97 earnings per share. On average, equities analysts anticipate that Corebridge Financial will post 4.82 earnings per share for the current year.

Corebridge Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 14th will be given a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 3.15%. The ex-dividend date of this dividend is Friday, June 14th. Corebridge Financial’s dividend payout ratio is 24.21%.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. Riverview Trust Co bought a new position in shares of Corebridge Financial during the 1st quarter worth about $25,000. EverSource Wealth Advisors LLC acquired a new stake in Corebridge Financial during the third quarter valued at approximately $28,000. Vestor Capital LLC bought a new stake in shares of Corebridge Financial in the 4th quarter valued at approximately $43,000. Cullen Frost Bankers Inc. acquired a new position in shares of Corebridge Financial in the 3rd quarter worth approximately $55,000. Finally, Headlands Technologies LLC bought a new position in shares of Corebridge Financial during the 4th quarter worth approximately $65,000. 98.25% of the stock is owned by institutional investors.

About Corebridge Financial

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.