Corebridge Financial (NYSE:CRBG – Free Report) had its price objective raised by Barclays from $38.00 to $45.00 in a research note issued to investors on Thursday,Benzinga reports. They currently have an overweight rating on the stock.
CRBG has been the topic of a number of other research reports. Keefe, Bruyette & Woods upped their target price on Corebridge Financial from $37.00 to $39.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 7th. Piper Sandler raised their price objective on Corebridge Financial from $35.00 to $38.00 and gave the company an “overweight” rating in a report on Wednesday, April 2nd. Wells Fargo & Company increased their target price on Corebridge Financial from $35.00 to $37.00 and gave the company an “overweight” rating in a research report on Wednesday, May 7th. UBS Group lowered shares of Corebridge Financial from a “buy” rating to a “sell” rating and cut their price target for the stock from $40.00 to $28.00 in a report on Wednesday, April 2nd. Finally, Morgan Stanley upped their price objective on shares of Corebridge Financial from $32.00 to $37.00 and gave the stock an “overweight” rating in a research report on Monday, May 19th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $37.54.
View Our Latest Report on Corebridge Financial
Corebridge Financial Stock Up 5.9%
Corebridge Financial (NYSE:CRBG – Get Free Report) last announced its earnings results on Monday, May 5th. The company reported $1.16 earnings per share for the quarter, beating the consensus estimate of $1.15 by $0.01. The company had revenue of $4.74 billion during the quarter, compared to the consensus estimate of $5.28 billion. Corebridge Financial had a net margin of 3.73% and a return on equity of 22.19%. During the same period last year, the firm earned $1.10 earnings per share. On average, equities analysts anticipate that Corebridge Financial will post 5.43 earnings per share for the current fiscal year.
Corebridge Financial Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 16th will be given a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.74%. The ex-dividend date of this dividend is Monday, June 16th. Corebridge Financial’s dividend payout ratio (DPR) is 81.36%.
Hedge Funds Weigh In On Corebridge Financial
Several hedge funds and other institutional investors have recently modified their holdings of the business. Price T Rowe Associates Inc. MD boosted its stake in Corebridge Financial by 31.2% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 32,961,533 shares of the company’s stock worth $986,539,000 after buying an additional 7,828,929 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of Corebridge Financial by 1.4% during the 1st quarter. Vanguard Group Inc. now owns 24,249,948 shares of the company’s stock worth $765,571,000 after acquiring an additional 324,692 shares during the period. Norges Bank acquired a new position in shares of Corebridge Financial during the 4th quarter valued at about $283,212,000. AQR Capital Management LLC grew its holdings in shares of Corebridge Financial by 50.0% in the first quarter. AQR Capital Management LLC now owns 8,337,525 shares of the company’s stock valued at $258,880,000 after purchasing an additional 2,780,764 shares during the period. Finally, Pzena Investment Management LLC grew its holdings in shares of Corebridge Financial by 73.6% in the first quarter. Pzena Investment Management LLC now owns 8,050,602 shares of the company’s stock valued at $254,158,000 after purchasing an additional 3,412,147 shares during the period. 98.25% of the stock is owned by hedge funds and other 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.
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