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

Shares of Corebridge Financial, Inc. (NYSE:CRBG) have been given an average recommendation of “Moderate Buy” by the thirteen research firms that are covering the company, MarketBeat Ratings reports. Four investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $39.2727.

Several analysts have issued reports on CRBG shares. Wells Fargo & Company dropped their price target on shares of Corebridge Financial from $44.00 to $43.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 5th. Weiss Ratings restated a “buy (b-)” rating on shares of Corebridge Financial in a research note on Monday, December 22nd. Mizuho began coverage on shares of Corebridge Financial in a research note on Tuesday, December 16th. They issued an “outperform” rating and a $38.00 target price for the company. Barclays reduced their price target on Corebridge Financial from $46.00 to $39.00 and set an “overweight” rating for the company in a report on Wednesday, October 8th. Finally, Keefe, Bruyette & Woods lowered their price target on Corebridge Financial from $42.00 to $41.00 and set an “outperform” rating on the stock in a research report on Thursday, October 9th.

Institutional Investors Weigh In On Corebridge Financial

Hedge funds have recently added to or reduced their stakes in the business. Strs Ohio bought a new stake in shares of Corebridge Financial during the 1st quarter worth $1,823,000. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in Corebridge Financial in the second quarter valued at about $17,576,000. Dynamic Technology Lab Private Ltd acquired a new position in Corebridge Financial during the first quarter worth about $1,257,000. AXQ Capital LP acquired a new position in Corebridge Financial during the second quarter worth about $682,000. Finally, Assenagon Asset Management S.A. lifted its holdings in shares of Corebridge Financial by 928.9% in the third quarter. Assenagon Asset Management S.A. now owns 68,226 shares of the company’s stock worth $2,187,000 after acquiring an additional 61,595 shares during the last quarter. Institutional investors and hedge funds own 98.25% of the company’s stock.

Corebridge Financial Stock Performance

Shares of NYSE CRBG opened at $30.54 on Friday. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.13 and a current ratio of 0.13. The stock has a 50 day moving average price of $30.43 and a 200 day moving average price of $32.59. The stock has a market capitalization of $15.90 billion, a PE ratio of 18.18, a price-to-earnings-growth ratio of 0.43 and a beta of 1.04. Corebridge Financial has a 52 week low of $23.69 and a 52 week high of $36.57.

Corebridge Financial (NYSE:CRBG) last announced its quarterly earnings data on Tuesday, November 4th. The company reported $0.96 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.08 by ($0.12). Corebridge Financial had a return on equity of 19.90% and a net margin of 5.01%.The company had revenue of $5.63 billion for the quarter, compared to the consensus estimate of $4.85 billion. During the same quarter in the prior year, the company earned $1.23 EPS. The company’s revenue for the quarter was up 34.2% on a year-over-year basis. Analysts predict that Corebridge Financial will post 5.43 earnings per share for the current fiscal year.

Corebridge Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Wednesday, December 17th will be issued a dividend of $0.24 per share. The ex-dividend date of this dividend is Wednesday, December 17th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 3.1%. Corebridge Financial’s payout ratio is presently 57.14%.

Corebridge Financial Company Profile

Corebridge Financial (NYSE: CRBG) is a publicly traded provider of retirement, life insurance and asset management solutions. Formed from the separation of American International Group’s life and retirement operations, Corebridge focuses on helping individuals, employers and institutions manage retirement income, protect against longevity and mortality risks, and invest long-term savings. The company operates under a unified brand that brings together insurance products and investment capabilities to deliver integrated financial solutions.

Corebridge’s product suite includes retirement income and annuity products, individual and group life insurance, asset management and investment advisory services, and employer-sponsored retirement plan offerings.