Shares of Corebridge Financial, Inc. (NYSE:CRBG - Get Free Report) reached a new 52-week high during trading on Thursday . The company traded as high as $35.50 and last traded at $34.97, with a volume of 1021615 shares trading hands. The stock had previously closed at $33.07.
Wall Street Analysts Forecast Growth
A number of analysts recently weighed in on CRBG shares. Piper Sandler upped their target price on shares of Corebridge Financial from $35.00 to $38.00 and gave the stock an "overweight" rating in a report on Wednesday, April 2nd. Morgan Stanley lifted their price target on Corebridge Financial from $32.00 to $37.00 and gave the company an "overweight" rating in a research report on Monday, May 19th. Keefe, Bruyette & Woods boosted their price target on shares of Corebridge Financial from $37.00 to $39.00 and gave the stock an "outperform" rating in a research note on Wednesday, May 7th. Wells Fargo & Company upped their target price on shares of Corebridge Financial from $35.00 to $37.00 and gave the stock an "overweight" rating in a research report on Wednesday, May 7th. Finally, Wall Street Zen raised Corebridge Financial from a "sell" rating to a "hold" rating in a research note on Friday, June 6th. One research analyst has rated the stock with a sell rating, three have given a hold rating and eleven have given a buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $37.00.
View Our Latest Analysis on CRBG
Corebridge Financial Trading Up 5.9%
The stock has a market capitalization of $19.24 billion, a P/E ratio of 29.66, a price-to-earnings-growth ratio of 0.54 and a beta of 1.04. The stock has a 50-day moving average price of $31.60 and a two-hundred day moving average price of $31.36. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.14 and a current ratio of 0.14.
Corebridge Financial (NYSE:CRBG - Get Free Report) last posted its earnings results 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 3.73% and a return on equity of 22.19%. The firm had revenue of $4.74 billion during the quarter, compared to analysts' expectations of $5.28 billion. During the same period last year, the company posted $1.10 EPS. On average, research analysts forecast that Corebridge Financial, Inc. will post 5.43 EPS for the current fiscal year.
Corebridge Financial Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 16th will be given a dividend of $0.24 per share. The ex-dividend date of this dividend is Monday, June 16th. This represents a $0.96 annualized dividend and a yield of 2.74%. Corebridge Financial's payout ratio is 81.36%.
Institutional Inflows and Outflows
Several institutional investors have recently made changes to their positions in CRBG. Swedbank AB raised its holdings in Corebridge Financial by 55.0% in the first quarter. Swedbank AB now owns 309,746 shares of the company's stock worth $9,779,000 after purchasing an additional 109,939 shares in the last quarter. Rhumbline Advisers increased its stake in shares of Corebridge Financial by 0.4% during the first quarter. Rhumbline Advisers now owns 307,352 shares of the company's stock valued at $9,703,000 after purchasing an additional 1,215 shares in the last quarter. Strs Ohio purchased a new position in shares of Corebridge Financial during the first quarter valued at approximately $1,823,000. Focus Partners Wealth purchased a new position in shares of Corebridge Financial during the first quarter valued at approximately $384,000. Finally, Woodline Partners LP bought a new stake in shares of Corebridge Financial in the 1st quarter worth approximately $4,908,000. Institutional investors own 98.25% of the company's stock.
Corebridge Financial Company Profile
(
Get Free Report)
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.
Further Reading
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