Corebridge Financial (NYSE:CRBG - Get Free Report) issued its quarterly earnings data on Friday. The company reported $1.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.05 by $0.05, Briefing.com reports. Corebridge Financial had a net margin of 5.92% and a return on equity of 23.11%. The company had revenue of $5.85 billion during the quarter, compared to the consensus estimate of $5.50 billion. During the same quarter in the prior year, the firm earned $0.97 earnings per share.
Corebridge Financial Price Performance
Shares of Corebridge Financial stock traded up $0.56 during midday trading on Friday, hitting $28.68. 6,093,955 shares of the company traded hands, compared to its average volume of 3,879,546. The stock has a market cap of $17.85 billion, a price-to-earnings ratio of 16.97, a PEG ratio of 0.33 and a beta of 0.96. 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's fifty day moving average price is $26.61 and its 200-day moving average price is $23.68. Corebridge Financial has a 12 month low of $14.91 and a 12 month high of $29.53.
Corebridge Financial Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were issued a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 3.21%. The ex-dividend date of this dividend was Thursday, March 14th. Corebridge Financial's dividend payout ratio (DPR) is presently 54.44%.
Analyst Upgrades and Downgrades
A number of analysts have commented on CRBG shares. Royal Bank of Canada reiterated an "outperform" rating and issued a $32.00 price target on shares of Corebridge Financial in a research note on Friday, April 12th. Keefe, Bruyette & Woods increased their price target 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. The Goldman Sachs Group increased their price target on shares of Corebridge Financial from $27.00 to $31.00 and gave the company a "buy" rating in a research note on Tuesday, January 9th. Wells Fargo & Company increased their price target on shares of Corebridge Financial from $30.00 to $33.00 and gave the company an "overweight" rating in a research note on Thursday, April 11th. Finally, 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 note on Wednesday, January 10th. Three research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $29.08.
View Our Latest Research Report on CRBG
About Corebridge Financial
(
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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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