Corebridge Financial, Inc. (NYSE:CRBG) Given Average Rating of "Moderate Buy" by Brokerages

Corebridge Financial, Inc. (NYSE:CRBG - Get Free Report) has received a consensus rating of "Moderate Buy" from the fourteen ratings firms that are currently covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, two have issued a hold rating and eleven have given a buy rating to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $37.00.

Several equities research analysts have commented on the company. Keefe, Bruyette & Woods boosted their target price on Corebridge Financial from $37.00 to $39.00 and gave the stock an "outperform" rating in a report on Wednesday, May 7th. UBS Group lowered shares of Corebridge Financial from a "buy" rating to a "sell" rating and decreased their price objective for the stock from $40.00 to $28.00 in a report on Wednesday, April 2nd. Wells Fargo & Company upped their price objective on Corebridge Financial from $35.00 to $37.00 and gave the company an "overweight" rating in a research report on Wednesday, May 7th. Piper Sandler boosted their price target on Corebridge Financial from $35.00 to $38.00 and gave the stock an "overweight" rating in a research note on Wednesday, April 2nd. Finally, Morgan Stanley increased their price objective on Corebridge Financial from $32.00 to $37.00 and gave the company an "overweight" rating in a research report on Monday, May 19th.

Corebridge Financial Stock Down 1.5%

Shares of CRBG stock traded down $0.50 during midday trading on Wednesday, reaching $32.63. 3,461,325 shares of the stock were exchanged, compared to its average volume of 3,280,682. The company's 50 day moving average is $30.34 and its two-hundred day moving average is $31.33. The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 0.16. The firm has a market cap of $17.93 billion, a PE ratio of 8.63, a price-to-earnings-growth ratio of 0.43 and a beta of 1.04. Corebridge Financial has a 1 year low of $23.69 and a 1 year high of $35.36.

Corebridge Financial (NYSE:CRBG - Get Free Report) last posted its quarterly earnings data on Monday, May 5th. The company reported $1.16 EPS for the quarter, topping the consensus estimate of $1.15 by $0.01. Corebridge Financial had a net margin of 11.39% and a return on equity of 22.69%. The business had revenue of $4.74 billion for the quarter, compared to analyst estimates of $5.28 billion. During the same quarter in the previous year, the firm posted $1.10 earnings per share. On average, equities research analysts predict that Corebridge Financial will post 5.43 EPS for the current year.

Corebridge Financial Dividend Announcement

The firm also recently disclosed 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. The ex-dividend date is Monday, June 16th. This represents a $0.96 annualized dividend and a dividend yield of 2.94%. Corebridge Financial's payout ratio is 81.36%.

Institutional Investors Weigh In On Corebridge Financial

Large investors have recently made changes to their positions in the company. New York Life Investment Management LLC bought a new position in shares of Corebridge Financial during the 4th quarter valued at approximately $781,000. Raymond James Financial Inc. purchased a new position in shares of Corebridge Financial in the 4th quarter worth $31,844,000. Sumitomo Mitsui Trust Group Inc. increased its holdings in shares of Corebridge Financial by 4.3% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 504,261 shares of the company's stock worth $15,093,000 after buying an additional 20,783 shares during the last quarter. Principal Securities Inc. lifted its holdings in shares of Corebridge Financial by 557.3% in the 4th quarter. Principal Securities Inc. now owns 10,044 shares of the company's stock valued at $301,000 after acquiring an additional 8,516 shares during the last quarter. Finally, US Bancorp DE boosted its holdings in shares of Corebridge Financial by 7,525.1% in the 4th quarter. US Bancorp DE now owns 21,579 shares of the company's stock worth $646,000 after purchasing an additional 21,296 shares during the period. 98.25% of the stock is owned by institutional investors.

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.