Corebridge Financial (NYSE:CRBG) Given New $45.00 Price Target at Barclays

Corebridge Financial (NYSE:CRBG) had its price objective raised by Barclays from $38.00 to $45.00 in a research report released on Thursday morning,Benzinga reports. The firm currently has an overweight rating on the stock.

CRBG has been the topic of several other research reports. Wells Fargo & Company upped their target price on shares of Corebridge Financial from $35.00 to $37.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 7th. Keefe, Bruyette & Woods upped their price objective on Corebridge Financial from $37.00 to $39.00 and gave the company an “outperform” rating in a research report on Wednesday, May 7th. Piper Sandler lifted their target price on Corebridge Financial from $35.00 to $38.00 and gave the stock an “overweight” rating in a report on Wednesday, April 2nd. Morgan Stanley upped their price target on Corebridge Financial from $32.00 to $37.00 and gave the company an “overweight” rating in a report on Monday, May 19th. Finally, UBS Group downgraded Corebridge Financial from a “buy” rating to a “sell” rating and reduced their price objective for the stock from $40.00 to $28.00 in a report on Wednesday, April 2nd. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat.com, Corebridge Financial currently has a consensus rating of “Moderate Buy” and an average target price of $37.54.

Corebridge Financial Stock Performance

Shares of CRBG opened at $35.02 on Thursday. The company has a quick ratio of 0.14, a current ratio of 0.14 and a debt-to-equity ratio of 0.96. The stock has a market cap of $19.25 billion, a P/E ratio of 29.68, a P/E/G ratio of 0.53 and a beta of 1.04. The business’s 50 day moving average price is $31.75 and its 200-day moving average price is $31.39. Corebridge Financial has a 52 week low of $23.69 and a 52 week high of $35.50.

Corebridge Financial (NYSE:CRBG) last released its earnings results on Monday, May 5th. The company reported $1.16 EPS for the quarter, topping the consensus estimate of $1.15 by $0.01. The business had revenue of $4.74 billion for the quarter, compared to the consensus estimate of $5.28 billion. Corebridge Financial had a return on equity of 22.19% and a net margin of 3.73%. During the same period in the previous year, the company posted $1.10 earnings per share. Equities research analysts anticipate that Corebridge Financial will post 5.43 earnings per share for the current fiscal year.

Corebridge Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 16th will be issued a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 2.74%. The ex-dividend date of this dividend is Monday, June 16th. Corebridge Financial’s dividend payout ratio is currently 81.36%.

Institutional Trading of Corebridge Financial

Institutional investors have recently made changes to their positions in the business. Smartleaf Asset Management LLC increased its holdings in shares of Corebridge Financial by 112.4% in the fourth quarter. Smartleaf Asset Management LLC now owns 907 shares of the company’s stock worth $27,000 after purchasing an additional 480 shares during the last quarter. Oarsman Capital Inc. purchased a new position in shares of Corebridge Financial in the 4th quarter worth $30,000. Sunbelt Securities Inc. purchased a new position in Corebridge Financial during the fourth quarter worth $30,000. Whittier Trust Co. of Nevada Inc. boosted its stake in Corebridge Financial by 58.4% during the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 1,147 shares of the company’s stock worth $34,000 after buying an additional 423 shares during the period. Finally, Brooklyn Investment Group increased its position in Corebridge Financial by 66.7% during the first quarter. Brooklyn Investment Group now owns 1,452 shares of the company’s stock valued at $46,000 after acquiring an additional 581 shares during the last quarter. Hedge funds and other institutional investors own 98.25% of the company’s stock.

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.