Corebridge Financial (CRBG) Scheduled to Post Quarterly Earnings on Friday

Corebridge Financial (NYSE:CRBG) is scheduled to issue its quarterly earnings data before the market opens on Friday, May 3rd. Analysts expect the company to announce earnings of $1.09 per share for the quarter. Parties that wish to listen to the company’s conference call can do so using this link.

Corebridge Financial (NYSE:CRBG) last announced 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. The company had revenue of $5.92 billion for 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%. The firm’s quarterly revenue was up 11.3% compared to the same quarter last year. During the same quarter last year, the company earned $0.88 earnings per share. On average, analysts expect Corebridge Financial to post $5 EPS for the current fiscal year and $6 EPS for the next fiscal year.

Corebridge Financial Price Performance

Shares of NYSE CRBG opened at $26.68 on Friday. The firm has a market cap of $16.61 billion, a P/E ratio of 15.79, a price-to-earnings-growth ratio of 0.32 and a beta of 0.86. The company has a current ratio of 0.14, a quick ratio of 0.14 and a debt-to-equity ratio of 0.92. Corebridge Financial has a 1-year low of $14.91 and a 1-year high of $29.40. The business’s 50 day moving average is $26.37 and its 200-day moving average is $23.41.

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 dividend of $0.23 per share. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 3.45%. Corebridge Financial’s dividend payout ratio (DPR) is currently 54.44%.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on CRBG. The Goldman Sachs Group increased their target price on Corebridge Financial from $27.00 to $31.00 and gave the stock a “buy” rating in a research note on Tuesday, January 9th. Morgan Stanley increased their target price on Corebridge Financial from $26.00 to $28.00 and gave the stock an “equal weight” rating in a research note on Monday, April 15th. Keefe, Bruyette & Woods increased their target price on Corebridge Financial from $35.00 to $38.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 10th. Piper Sandler increased their target price on Corebridge Financial from $30.00 to $34.00 and gave the stock an “overweight” rating in a research note on Friday, April 5th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $32.00 price target on shares of Corebridge Financial in a research report on Friday, April 12th. Three investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $29.08.

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.