Corebridge Financial (NYSE:CRBG) Hits New 52-Week High at $29.53

Corebridge Financial, Inc. (NYSE:CRBG - Get Free Report) reached a new 52-week high during mid-day trading on Friday . The stock traded as high as $29.53 and last traded at $28.94, with a volume of 980418 shares. The stock had previously closed at $28.12.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. UBS Group increased their price target on shares of Corebridge Financial from $22.00 to $28.00 and gave the company a "buy" rating in a research report on Wednesday, January 10th. Piper Sandler increased their price target on shares of Corebridge Financial from $30.00 to $34.00 and gave the stock an "overweight" rating in a report on Friday, April 5th. Wells Fargo & Company increased their price target on shares of Corebridge Financial from $30.00 to $33.00 and gave the stock an "overweight" rating in a report on Thursday, April 11th. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $32.00 target price on shares of Corebridge Financial in a research note on Friday, April 12th. Finally, Keefe, Bruyette & Woods raised their target price on shares of Corebridge Financial from $35.00 to $38.00 and gave the company an "outperform" rating in a research note on Wednesday, April 10th. Three research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. According to MarketBeat.com, Corebridge Financial presently has a consensus rating of "Moderate Buy" and an average price target of $29.08.

Corebridge Financial Trading Up 1.9 %

The company has a market cap of $17.84 billion, a P/E ratio of 16.96, a PEG ratio of 0.31 and a beta of 0.96. The stock's 50 day moving average is $26.54 and its 200-day moving average is $23.63. The company has a current ratio of 0.14, a quick ratio of 0.14 and a debt-to-equity ratio of 0.92.

Corebridge Financial (NYSE:CRBG - Get Free Report) last posted its earnings results on Thursday, February 15th. The company reported $1.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.99 by $0.05. Corebridge Financial had a net margin of 5.92% and a return on equity of 23.11%. The business had revenue of $5.92 billion for the quarter, compared to analysts' expectations of $5.65 billion. During the same quarter in the prior year, the business earned $0.88 EPS. The business's revenue for the quarter was up 11.3% compared to the same quarter last year. Research analysts anticipate that Corebridge Financial, Inc. will post 4.82 earnings per share for the current fiscal year.

Corebridge Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were issued a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 3.21%. The ex-dividend date of this dividend was Thursday, March 14th. Corebridge Financial's dividend payout ratio (DPR) is currently 54.44%.

Institutional Investors Weigh In On Corebridge Financial

Institutional investors have recently added to or reduced their stakes in the stock. Riverview Trust Co bought a new position in shares of Corebridge Financial during the 1st quarter valued at approximately $25,000. Commonwealth Equity Services LLC increased its stake in Corebridge Financial by 5.6% in the first quarter. Commonwealth Equity Services LLC now owns 21,725 shares of the company's stock worth $624,000 after purchasing an additional 1,149 shares during the period. Mariner LLC increased its stake in Corebridge Financial by 4.3% in the third quarter. Mariner LLC now owns 33,647 shares of the company's stock worth $665,000 after purchasing an additional 1,388 shares during the period. EverSource Wealth Advisors LLC purchased a new stake in Corebridge Financial in the third quarter worth $28,000. Finally, Vestor Capital LLC purchased a new stake in Corebridge Financial in the fourth quarter worth $43,000. 98.25% of the stock is owned by hedge funds and other 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.

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