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

Shares of Corebridge Financial, Inc. (NYSE:CRBG) have earned an average recommendation of “Moderate Buy” from the eleven ratings firms that are presently covering the company, Marketbeat reports. Three equities research analysts have rated the stock with a hold rating and eight have issued a buy rating on the company. The average 12-month price target among brokers that have covered the stock in the last year is $28.50.

A number of analysts recently issued reports on the company. Royal Bank of Canada boosted their price target on Corebridge Financial from $25.00 to $28.00 and gave the company an “outperform” rating in a report on Friday, February 16th. 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. Piper Sandler upped their target price on Corebridge Financial from $30.00 to $34.00 and gave the stock an “overweight” rating in a report on Friday, April 5th. The Goldman Sachs Group upped their target price on Corebridge Financial from $27.00 to $31.00 and gave the stock a “buy” rating in a report on Tuesday, January 9th. Finally, Evercore ISI upped their target price on Corebridge Financial from $30.00 to $32.00 and gave the stock an “outperform” rating in a report on Thursday.

Hedge Funds Weigh In On Corebridge Financial

Several hedge funds have recently made changes to their positions in the company. American International Group Inc. increased its position in shares of Corebridge Financial by 50.8% in the 4th quarter. American International Group Inc. now owns 1,881 shares of the company’s stock valued at $41,000 after acquiring an additional 634 shares during the period. MetLife Investment Management LLC increased its position in shares of Corebridge Financial by 76.4% in the 2nd quarter. MetLife Investment Management LLC now owns 2,929 shares of the company’s stock valued at $52,000 after acquiring an additional 1,269 shares during the period. Mariner LLC increased its position in shares of Corebridge Financial by 4.3% in the 3rd quarter. Mariner LLC now owns 33,647 shares of the company’s stock valued at $665,000 after acquiring an additional 1,388 shares during the period. EverSource Wealth Advisors LLC acquired a new position in shares of Corebridge Financial in the 3rd quarter valued at $28,000. Finally, Advisor Group Holdings Inc. acquired a new position in shares of Corebridge Financial in the 4th quarter valued at $35,000. 98.25% of the stock is owned by institutional investors and hedge funds.

Corebridge Financial Stock Down 0.3 %

Shares of NYSE:CRBG opened at $27.29 on Friday. Corebridge Financial has a 1 year low of $14.91 and a 1 year high of $29.40. The business has a 50 day simple moving average of $25.76 and a two-hundred day simple moving average of $22.92. The firm has a market capitalization of $16.99 billion, a PE ratio of 16.15, a price-to-earnings-growth ratio of 0.33 and a beta of 0.86. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.14 and a quick ratio of 0.14.

Corebridge Financial (NYSE:CRBG) last announced its quarterly 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 analyst estimates of $5.65 billion. Corebridge Financial had a return on equity of 23.11% and a net margin of 5.92%. Corebridge Financial’s quarterly revenue was up 11.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.88 earnings per share. On average, equities analysts predict that Corebridge Financial will post 4.87 EPS for the current year.

Corebridge Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were given a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 3.37%. The ex-dividend date was Thursday, March 14th. Corebridge Financial’s payout ratio is presently 54.44%.

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.