Corebridge Financial (NYSE:CRBG) Hits New 52-Week Low – Here’s What Happened

Corebridge Financial, Inc. (NYSE:CRBG) hit a new 52-week low on Saturday . The company traded as low as $22.19 and last traded at $22.3550, with a volume of 7905915 shares. The stock had previously closed at $24.41.

More Corebridge Financial News

Here are the key news stories impacting Corebridge Financial this week:

• Positive Sentiment: All-stock merger announced with Equitable Holdings to create a roughly $22B retirement, life, wealth and asset-management company with about $1.5T AUM; transaction gives Corebridge shareholders ~51% of the combined company, supporting scale and potential cost/sales synergies. Corebridge and Equitable strike all-stock merger deal valuing combined firm at $22B
• Positive Sentiment: Brokerage coverage remains constructive: Keefe, Bruyette & Woods reaffirmed a “moderate buy” and $32 price target, implying sizable upside from current levels and providing analyst support for the deal thesis. Analyst Reaffirmation
• Neutral Sentiment: Company-hosted M&A call/transcript reiterated strategic rationale and integration plans; management framed the deal as transformational but left some execution and timing questions open — investors will watch follow-up details on governance, cost saves and capital allocation. M&A Call Transcript
• Neutral Sentiment: Initial market reaction: shares of both firms jumped on the news as investors priced the combination’s benefits, but moves have been volatile as traders weigh deal details. Stocks Jump on Merger Plans
• Negative Sentiment: Multiple shareholder-law firms have launched investigations into whether the merger terms are fair to shareholders — litigation risk and potential deal complications (or demands for a different exchange ratio/consideration) could pressure the stock. Halper Sadeh Investigation Rowley Law Investigation
• Negative Sentiment: Analysts and commentators are flagging Corebridge’s private credit exposure as a potential risk — concerns about credit marks or illiquid asset valuation could weigh on earnings and investor sentiment if macro credit stress emerges. Private Credit Exposure Concerns

Analysts Set New Price Targets

A number of analysts recently commented on CRBG shares. Keefe, Bruyette & Woods reaffirmed a “moderate buy” rating and set a $32.00 price target on shares of Corebridge Financial in a research report on Thursday. Zacks Research upgraded Corebridge Financial from a “strong sell” rating to a “hold” rating in a research note on Friday, March 6th. Weiss Ratings lowered shares of Corebridge Financial from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday, January 15th. UBS Group decreased their price objective on shares of Corebridge Financial from $35.00 to $33.00 and set a “neutral” rating for the company in a report on Thursday, January 8th. Finally, Barclays lowered their price objective on shares of Corebridge Financial from $34.00 to $33.00 and set an “overweight” rating on the stock in a research report on Wednesday, March 11th. Eight investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Corebridge Financial currently has an average rating of “Moderate Buy” and an average target price of $36.27.

Corebridge Financial Price Performance

The firm’s 50 day moving average price is $27.72 and its two-hundred day moving average price is $29.90. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.12 and a quick ratio of 0.12. The stock has a market cap of $10.77 billion, a PE ratio of -42.18, a P/E/G ratio of 0.39 and a beta of 1.11.

Corebridge Financial (NYSE:CRBG) last announced its quarterly earnings results on Wednesday, February 11th. The company reported $1.22 EPS for the quarter, beating analysts’ consensus estimates of $1.11 by $0.11. The company had revenue of $6.34 billion for the quarter, compared to analysts’ expectations of $5.02 billion. Corebridge Financial had a negative net margin of 1.73% and a positive return on equity of 18.92%. During the same period in the prior year, the company posted $1.06 EPS. On average, research analysts expect that Corebridge Financial, Inc. will post 5.43 earnings per share for the current year.

Corebridge Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Tuesday, March 17th will be issued a dividend of $0.25 per share. This is a positive change from Corebridge Financial’s previous quarterly dividend of $0.24. The ex-dividend date of this dividend is Tuesday, March 17th. This represents a $1.00 dividend on an annualized basis and a yield of 4.5%. Corebridge Financial’s payout ratio is currently -188.68%.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its holdings in shares of Corebridge Financial by 7.2% during the third quarter. Vanguard Group Inc. now owns 26,831,915 shares of the company’s stock worth $859,963,000 after purchasing an additional 1,805,819 shares in the last quarter. Algebris UK Ltd. grew its position in Corebridge Financial by 31.4% in the third quarter. Algebris UK Ltd. now owns 1,393,378 shares of the company’s stock worth $44,624,000 after acquiring an additional 333,245 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in Corebridge Financial by 6.9% in the third quarter. Dimensional Fund Advisors LP now owns 6,686,747 shares of the company’s stock valued at $214,372,000 after acquiring an additional 430,308 shares during the last quarter. Machina Capital S.A.S. bought a new position in Corebridge Financial in the third quarter valued at $1,182,000. Finally, Assenagon Asset Management S.A. raised its position in Corebridge Financial by 928.9% during the third quarter. Assenagon Asset Management S.A. now owns 68,226 shares of the company’s stock valued at $2,187,000 after purchasing an additional 61,595 shares in the last quarter. Hedge funds and other institutional investors own 98.25% of the company’s stock.

About Corebridge Financial

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.