Brokerages Set Corebridge Financial, Inc. (NYSE:CRBG) Price Target at $36.15

Shares of Corebridge Financial, Inc. (NYSE:CRBG - Get Free Report) have earned a consensus recommendation of "Moderate Buy" from the fourteen analysts that are covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, two have given a hold recommendation and eleven have issued a buy recommendation on the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $36.15.

A number of research analysts have recently commented on the stock. Barclays cut their price target on shares of Corebridge Financial from $37.00 to $36.00 and set an "overweight" rating on the stock in a report on Friday, April 11th. Deutsche Bank Aktiengesellschaft upgraded shares of Corebridge Financial from a "hold" rating to a "buy" rating and boosted their price target for the company from $33.00 to $40.00 in a report on Friday, January 10th. Wells Fargo & Company cut their price target on Corebridge Financial from $38.00 to $35.00 and set an "overweight" rating on the stock in a report on Thursday, April 10th. Keefe, Bruyette & Woods decreased their price objective on Corebridge Financial from $40.00 to $37.00 and set an "outperform" rating for the company in a research note on Wednesday, April 9th. Finally, Morgan Stanley cut their target price on Corebridge Financial from $43.00 to $32.00 and set an "overweight" rating on the stock in a research note on Thursday, April 10th.

Corebridge Financial Price Performance

Shares of CRBG traded up $0.02 during mid-day trading on Tuesday, hitting $29.50. 2,653,029 shares of the stock were exchanged, compared to its average volume of 3,569,102. The firm has a 50-day moving average of $30.56 and a two-hundred day moving average of $31.16. Corebridge Financial has a 52-week low of $23.69 and a 52-week high of $35.36. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.13 and a current ratio of 0.13. The company has a market cap of $16.30 billion, a PE ratio of 7.80, a price-to-earnings-growth ratio of 0.43 and a beta of 0.98.

Corebridge Financial (NYSE:CRBG - Get Free Report) last issued its quarterly earnings data on Wednesday, February 12th. The company reported $1.23 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.27 by ($0.04). Corebridge Financial had a net margin of 11.39% and a return on equity of 22.69%. On average, equities analysts predict that Corebridge Financial will post 5.43 earnings per share for the current year.

Corebridge Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 17th were paid a dividend of $0.24 per share. This is an increase from Corebridge Financial's previous quarterly dividend of $0.23. This represents a $0.96 annualized dividend and a dividend yield of 3.25%. The ex-dividend date of this dividend was Monday, March 17th. Corebridge Financial's payout ratio is presently 25.40%.

Hedge Funds Weigh In On Corebridge Financial

Several hedge funds have recently made changes to their positions in the company. MML Investors Services LLC increased its holdings in shares of Corebridge Financial by 6.5% in the third quarter. MML Investors Services LLC now owns 17,170 shares of the company's stock valued at $501,000 after purchasing an additional 1,055 shares during the period. Barclays PLC increased its holdings in Corebridge Financial by 20.0% in the 3rd quarter. Barclays PLC now owns 358,035 shares of the company's stock worth $10,441,000 after buying an additional 59,702 shares during the period. Virtu Financial LLC acquired a new position in Corebridge Financial in the 3rd quarter worth approximately $581,000. Sanctuary Advisors LLC purchased a new position in Corebridge Financial during the 3rd quarter worth approximately $683,000. Finally, Tidal Investments LLC lifted its stake in Corebridge Financial by 38.0% during the 3rd quarter. Tidal Investments LLC now owns 31,780 shares of the company's stock valued at $927,000 after acquiring an additional 8,751 shares during the period. 98.25% of the stock is owned by institutional investors and hedge funds.

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.