Corebridge Financial, Inc. (NYSE:CRBG) Receives Average Rating of "Moderate Buy" from Analysts

Corebridge Financial, Inc. (NYSE:CRBG - Get Free Report) has earned an average recommendation of "Moderate Buy" from the twelve brokerages that are presently covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and ten have given a buy recommendation to the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $38.64.

A number of equities analysts have recently commented on CRBG shares. Keefe, Bruyette & Woods lifted their price target on shares of Corebridge Financial from $37.00 to $39.00 and gave the company an "outperform" rating in a research report on Wednesday, May 7th. Morgan Stanley raised their price objective on shares of Corebridge Financial from $37.00 to $40.00 and gave the stock an "overweight" rating in a research note on Friday, June 27th. Barclays boosted their price objective on shares of Corebridge Financial from $38.00 to $45.00 and gave the stock an "overweight" rating in a report on Thursday, June 26th. Piper Sandler boosted their price objective on shares of Corebridge Financial from $38.00 to $40.00 and gave the stock an "overweight" rating in a report on Thursday. Finally, Wall Street Zen upgraded shares of Corebridge Financial from a "sell" rating to a "hold" rating in a report on Saturday.

Institutional Investors Weigh In On Corebridge Financial

A number of institutional investors have recently bought and sold shares of the business. EverSource Wealth Advisors LLC boosted its stake in Corebridge Financial by 25.1% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,642 shares of the company's stock worth $49,000 after buying an additional 329 shares in the last quarter. Whittier Trust Co. of Nevada Inc. boosted its stake in shares of Corebridge Financial by 58.4% in the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 1,147 shares of the company's stock valued at $34,000 after purchasing an additional 423 shares in the last quarter. Smartleaf Asset Management LLC boosted its stake in shares of Corebridge Financial by 112.4% in the 4th quarter. Smartleaf Asset Management LLC now owns 907 shares of the company's stock valued at $27,000 after purchasing an additional 480 shares in the last quarter. Brooklyn Investment Group boosted its stake in shares of Corebridge Financial by 66.7% in the 1st quarter. Brooklyn Investment Group now owns 1,452 shares of the company's stock valued at $46,000 after purchasing an additional 581 shares in the last quarter. Finally, MetLife Investment Management LLC boosted its stake in shares of Corebridge Financial by 16.0% in the 4th quarter. MetLife Investment Management LLC now owns 5,193 shares of the company's stock valued at $155,000 after purchasing an additional 715 shares in the last quarter. Institutional investors and hedge funds own 98.25% of the company's stock.

Corebridge Financial Stock Performance

Shares of NYSE:CRBG traded down $0.69 during trading on Friday, reaching $35.09. The stock had a trading volume of 3,069,674 shares, compared to its average volume of 3,271,719. Corebridge Financial has a 52 week low of $23.69 and a 52 week high of $36.08. The firm has a market capitalization of $19.29 billion, a price-to-earnings ratio of 29.74, a P/E/G ratio of 0.59 and a beta of 1.06. The company has a quick ratio of 0.14, a current ratio of 0.14 and a debt-to-equity ratio of 0.96. The stock has a fifty day simple moving average of $32.60 and a two-hundred day simple moving average of $31.64.

Corebridge Financial (NYSE:CRBG - Get Free Report) last released its quarterly earnings results on Monday, May 5th. The company reported $1.16 EPS for the quarter, beating analysts' consensus estimates of $1.15 by $0.01. Corebridge Financial had a net margin of 3.73% and a return on equity of 22.19%. The company had revenue of $4.74 billion for the quarter, compared to analyst estimates of $5.28 billion. During the same quarter last year, the firm posted $1.10 earnings per share. As a group, analysts anticipate that Corebridge Financial will post 5.43 earnings per share for the current fiscal year.

Corebridge Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Monday, June 16th were paid a dividend of $0.24 per share. The ex-dividend date was Monday, June 16th. This represents a $0.96 dividend on an annualized basis and a yield of 2.74%. Corebridge Financial's dividend payout ratio is currently 81.36%.

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.