Corebridge Financial, Inc. (NYSE:CRBG) Short Interest Update

Corebridge Financial, Inc. (NYSE:CRBG - Get Free Report) was the target of a significant decline in short interest in May. As of May 15th, there was short interest totalling 7,320,000 shares, a decline of 20.6% from the April 30th total of 9,220,000 shares. Based on an average daily volume of 3,140,000 shares, the short-interest ratio is currently 2.3 days. Currently, 2.0% of the shares of the stock are short sold.

Corebridge Financial Trading Up 0.6%

CRBG stock traded up $0.18 during midday trading on Thursday, hitting $32.73. The company had a trading volume of 2,151,961 shares, compared to its average volume of 3,292,410. The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 0.16. Corebridge Financial has a 52 week low of $23.69 and a 52 week high of $35.36. The stock's 50 day moving average price is $30.18 and its 200 day moving average price is $31.28. The stock has a market cap of $17.99 billion, a price-to-earnings ratio of 8.66, a PEG ratio of 0.43 and a beta of 1.04.

Corebridge Financial (NYSE:CRBG - Get Free Report) last released its earnings results on Monday, May 5th. The company reported $1.16 EPS for the quarter, topping analysts' consensus estimates of $1.15 by $0.01. Corebridge Financial had a return on equity of 22.69% and a net margin of 11.39%. The firm had revenue of $4.74 billion for the quarter, compared to analysts' expectations of $5.28 billion. During the same period in the prior year, the firm posted $1.10 earnings per share. As a group, equities research analysts expect that Corebridge Financial will post 5.43 earnings per share for the current fiscal year.

Corebridge Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 16th will be issued a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 2.93%. The ex-dividend date of this dividend is Monday, June 16th. Corebridge Financial's dividend payout ratio is presently 81.36%.

Wall Street Analysts Forecast Growth

CRBG has been the topic of several recent analyst reports. 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 report on Monday, May 19th. UBS Group cut shares of Corebridge Financial from a "buy" rating to a "sell" rating and reduced their price objective for the company from $40.00 to $28.00 in a research note on Wednesday, April 2nd. Wells Fargo & Company lifted their price target on shares of Corebridge Financial from $35.00 to $37.00 and gave the stock an "overweight" rating in a report on Wednesday, May 7th. Barclays boosted their target price on shares of Corebridge Financial from $36.00 to $38.00 and gave the company an "overweight" rating in a report on Tuesday, May 6th. Finally, Piper Sandler upped their price target on shares of Corebridge Financial from $35.00 to $38.00 and gave the company an "overweight" rating in a report on Wednesday, April 2nd. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $37.00.

Hedge Funds Weigh In On Corebridge Financial

A number of large investors have recently bought and sold shares of the business. Smartleaf Asset Management LLC raised its position 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 worth $27,000 after acquiring an additional 480 shares in the last quarter. Oarsman Capital Inc. acquired a new position in shares of Corebridge Financial during the fourth quarter valued at approximately $30,000. Sunbelt Securities Inc. acquired a new stake in shares of Corebridge Financial in the fourth quarter valued at approximately $30,000. Blue Trust Inc. boosted its position in shares of Corebridge Financial by 183.2% during the fourth quarter. Blue Trust Inc. now owns 1,127 shares of the company's stock worth $33,000 after buying an additional 729 shares during the period. Finally, Whittier Trust Co. of Nevada Inc. boosted its holdings in Corebridge Financial by 58.4% in the fourth 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 during the period. Hedge funds and other institutional investors own 98.25% of the company's stock.

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.