Corebridge Financial, Inc. (NYSE:CRBG) Receives $28.50 Average PT from Analysts

Shares of Corebridge Financial, Inc. (NYSE:CRBG - Get Free Report) have earned an average rating of "Moderate Buy" from the eleven analysts that are presently covering the company, MarketBeat.com reports. Three equities research analysts have rated the stock with a hold recommendation and eight have given a buy recommendation to the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $28.83.

A number of research firms have issued reports on CRBG. Royal Bank of Canada reiterated an "outperform" rating and issued a $32.00 target price on shares of Corebridge Financial in a research note on Friday. UBS Group lifted 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. Wells Fargo & Company lifted their price target on shares of Corebridge Financial from $30.00 to $33.00 and gave the company an "overweight" rating in a research report on Thursday. Keefe, Bruyette & Woods lifted their price target on shares of Corebridge Financial from $35.00 to $38.00 and gave the company an "outperform" rating in a research report on Wednesday. Finally, The Goldman Sachs Group lifted their price target on shares of Corebridge Financial from $27.00 to $31.00 and gave the company a "buy" rating in a research report on Tuesday, January 9th.

Corebridge Financial Stock Down 1.9 %

Shares of CRBG stock traded down $0.52 during trading on Friday, hitting $26.77. 2,849,234 shares of the company were exchanged, compared to its average volume of 4,359,996. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.14 and a current ratio of 0.14. The firm has a market capitalization of $16.67 billion, a price-to-earnings ratio of 15.84, a P/E/G ratio of 0.32 and a beta of 0.86. The business's 50-day simple moving average is $25.82 and its 200 day simple moving average is $22.96. Corebridge Financial has a twelve month low of $14.91 and a twelve month high of $29.40.

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 analysts' consensus estimates of $0.99 by $0.05. The firm had revenue of $5.92 billion during the quarter, compared to analysts' expectations of $5.65 billion. Corebridge Financial had a net margin of 5.92% and a return on equity of 23.11%. The company's revenue was up 11.3% compared to the same quarter last year. During the same period in the previous year, the company earned $0.88 earnings per share. As a group, analysts forecast that Corebridge Financial will post 4.86 EPS for the current fiscal year.

Corebridge Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were paid a $0.23 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $0.92 annualized dividend and a dividend yield of 3.44%. Corebridge Financial's dividend payout ratio is presently 54.44%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in CRBG. American International Group Inc. lifted its position in Corebridge Financial by 25,998,738.6% during the 4th quarter. American International Group Inc. now owns 324,205,517 shares of the company's stock worth $7,022,291,000 after buying an additional 324,204,270 shares in the last quarter. Norges Bank bought a new stake in Corebridge Financial during the 4th quarter worth about $225,561,000. Vanguard Group Inc. raised its holdings in Corebridge Financial by 39.0% during the 4th quarter. Vanguard Group Inc. now owns 23,713,102 shares of the company's stock worth $513,626,000 after purchasing an additional 6,648,673 shares during the last quarter. Price T Rowe Associates Inc. MD raised its holdings in Corebridge Financial by 63.2% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 16,048,354 shares of the company's stock worth $321,930,000 after purchasing an additional 6,216,666 shares during the last quarter. Finally, Hotchkis & Wiley Capital Management LLC raised its holdings in Corebridge Financial by 106.3% during the 4th quarter. Hotchkis & Wiley Capital Management LLC now owns 10,010,679 shares of the company's stock worth $216,831,000 after purchasing an additional 5,157,570 shares during the last quarter. Institutional investors and hedge funds 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.