Corebridge Financial, Inc. (NYSE:CRBG) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Corebridge Financial, Inc. (NYSE:CRBG – Get Rating) has been assigned an average rating of “Moderate Buy” from the twelve research firms that are presently covering the firm, MarketBeat.com reports. Four equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $24.20.

A number of brokerages have commented on CRBG. Royal Bank of Canada reissued an “outperform” rating and set a $26.00 price objective on shares of Corebridge Financial in a report on Wednesday, April 5th. Citigroup assumed coverage on shares of Corebridge Financial in a research note on Monday, April 10th. They issued a “neutral” rating on the stock. The Goldman Sachs Group raised shares of Corebridge Financial from a “neutral” rating to a “buy” rating and reduced their target price for the company from $25.00 to $23.00 in a research note on Tuesday, April 4th. Finally, Wells Fargo & Company reduced their target price on shares of Corebridge Financial from $28.00 to $21.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 5th.

Corebridge Financial Trading Up 1.5 %

CRBG opened at $17.24 on Tuesday. Corebridge Financial has a twelve month low of $14.01 and a twelve month high of $23.50. The firm’s 50-day simple moving average is $16.24 and its 200-day simple moving average is $19.24. The company has a quick ratio of 0.15, a current ratio of 0.15 and a debt-to-equity ratio of 0.85.

Corebridge Financial (NYSE:CRBG – Get Rating) last issued its quarterly earnings data on Tuesday, May 9th. The company reported $0.97 EPS for the quarter, topping analysts’ consensus estimates of $0.84 by $0.13. The company had revenue of $5.36 billion for the quarter, compared to the consensus estimate of $4.21 billion. During the same period in the prior year, the company earned $1.15 EPS. As a group, sell-side analysts forecast that Corebridge Financial will post 3.87 EPS for the current fiscal year.

Corebridge Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 30th. Investors of record on Friday, June 16th will be given a $0.23 dividend. The ex-dividend date of this dividend is Thursday, June 15th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 5.34%.

Institutional Trading of Corebridge Financial

Several hedge funds have recently bought and sold shares of CRBG. Nomura Asset Management Co. Ltd. acquired a new stake in Corebridge Financial during the 1st quarter worth approximately $30,000. MetLife Investment Management LLC acquired a new stake in Corebridge Financial during the 4th quarter worth approximately $33,000. Advisor Group Holdings Inc. acquired a new stake in Corebridge Financial during the 4th quarter worth approximately $35,000. Steward Partners Investment Advisory LLC acquired a new stake in Corebridge Financial during the 4th quarter worth approximately $41,000. Finally, Operose Advisors LLC acquired a new stake in Corebridge Financial during the 1st quarter worth approximately $48,000. 22.16% of the stock is currently owned by institutional investors and hedge funds.

About Corebridge Financial

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Corebridge Financial, Inc provides retirement solutions and insurance products in the United States. It 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.