Corebridge Financial (NYSE:CRBG) PT Raised to $28.00

Corebridge Financial (NYSE:CRBG - Free Report) had its target price hoisted by Morgan Stanley from $26.00 to $28.00 in a research report sent to investors on Monday morning, Benzinga reports. The firm currently has an equal weight rating on the stock.

CRBG has been the topic of a number of other research reports. Keefe, Bruyette & Woods upped their target price on Corebridge Financial from $35.00 to $38.00 and gave the stock an outperform rating in a report on Wednesday, April 10th. UBS Group boosted their price target on Corebridge Financial from $22.00 to $28.00 and gave the stock a buy rating in a research report on Wednesday, January 10th. Royal Bank of Canada reissued an outperform rating and issued a $32.00 price target on shares of Corebridge Financial in a research report on Friday. Wells Fargo & Company boosted their price target on Corebridge Financial from $30.00 to $33.00 and gave the stock an overweight rating in a research report on Thursday. Finally, Piper Sandler boosted their price target on Corebridge Financial from $30.00 to $34.00 and gave the stock an overweight rating in a research report on Friday, April 5th. Three equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of Moderate Buy and an average target price of $29.08.

Corebridge Financial Stock Down 0.4 %

Shares of CRBG stock traded down $0.12 during midday trading on Monday, reaching $26.66. 2,204,590 shares of the stock were exchanged, compared to its average volume of 4,330,076. Corebridge Financial has a 1 year low of $14.91 and a 1 year high of $29.40. The company's 50 day moving average is $25.88 and its two-hundred day moving average is $23.06. The company has a current ratio of 0.14, a quick ratio of 0.14 and a debt-to-equity ratio of 0.92. The firm has a market cap of $16.60 billion, a PE ratio of 15.78, a price-to-earnings-growth ratio of 0.31 and a beta of 0.86.

Corebridge Financial (NYSE:CRBG - Get Free Report) last posted its earnings results on Thursday, February 15th. The company reported $1.04 earnings per share for the quarter, topping analysts' consensus estimates of $0.99 by $0.05. Corebridge Financial had a return on equity of 23.11% and a net margin of 5.92%. The firm had revenue of $5.92 billion for the quarter, compared to the consensus estimate 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% on a year-over-year basis. On average, equities research analysts predict that Corebridge Financial will post 4.86 EPS for the current year.

Corebridge Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were given a $0.23 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $0.92 annualized dividend and a yield of 3.45%. Corebridge Financial's dividend payout ratio (DPR) is presently 54.44%.

Hedge Funds Weigh In On Corebridge Financial

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Riverview Trust Co bought a new position in shares of Corebridge Financial during the 1st quarter valued at $25,000. EverSource Wealth Advisors LLC bought a new position in shares of Corebridge Financial during the 3rd quarter valued at $28,000. Nomura Asset Management Co. Ltd. bought a new position in shares of Corebridge Financial during the 1st quarter valued at $30,000. MetLife Investment Management LLC bought a new position in shares of Corebridge Financial during the 4th quarter valued at $33,000. Finally, Advisor Group Holdings Inc. bought a new position in shares of Corebridge Financial during the 4th quarter valued at $35,000. 98.25% of the stock is owned by institutional investors.

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.