Corebridge Financial (NYSE:CRBG) Hits New 52-Week Low – Here’s What Happened

Corebridge Financial, Inc. (NYSE:CRBG)’s stock price reached a new 52-week low during trading on Saturday . The company traded as low as $22.19 and last traded at $22.3550, with a volume of 7905915 shares. The stock had previously closed at $24.41.

Trending Headlines about Corebridge Financial

Here are the key news stories impacting Corebridge Financial this week:

• Positive Sentiment: All-stock merger announced with Equitable Holdings to create a roughly $22B retirement, life, wealth and asset-management company with about $1.5T AUM; transaction gives Corebridge shareholders ~51% of the combined company, supporting scale and potential cost/sales synergies. Corebridge and Equitable strike all-stock merger deal valuing combined firm at $22B
• Positive Sentiment: Brokerage coverage remains constructive: Keefe, Bruyette & Woods reaffirmed a “moderate buy” and $32 price target, implying sizable upside from current levels and providing analyst support for the deal thesis. Analyst Reaffirmation
• Neutral Sentiment: Company-hosted M&A call/transcript reiterated strategic rationale and integration plans; management framed the deal as transformational but left some execution and timing questions open — investors will watch follow-up details on governance, cost saves and capital allocation. M&A Call Transcript
• Neutral Sentiment: Initial market reaction: shares of both firms jumped on the news as investors priced the combination’s benefits, but moves have been volatile as traders weigh deal details. Stocks Jump on Merger Plans
• Negative Sentiment: Multiple shareholder-law firms have launched investigations into whether the merger terms are fair to shareholders — litigation risk and potential deal complications (or demands for a different exchange ratio/consideration) could pressure the stock. Halper Sadeh Investigation Rowley Law Investigation
• Negative Sentiment: Analysts and commentators are flagging Corebridge’s private credit exposure as a potential risk — concerns about credit marks or illiquid asset valuation could weigh on earnings and investor sentiment if macro credit stress emerges. Private Credit Exposure Concerns

Wall Street Analysts Forecast Growth

CRBG has been the topic of several research reports. Morgan Stanley dropped their price objective on shares of Corebridge Financial from $35.00 to $32.00 and set an “equal weight” rating on the stock in a report on Tuesday, March 3rd. JPMorgan Chase & Co. reduced their target price on Corebridge Financial from $40.00 to $39.00 and set a “neutral” rating for the company in a research note on Monday, January 5th. Keefe, Bruyette & Woods reaffirmed a “moderate buy” rating and issued a $32.00 target price on shares of Corebridge Financial in a research report on Thursday. UBS Group dropped their price target on Corebridge Financial from $35.00 to $33.00 and set a “neutral” rating on the stock in a research note on Thursday, January 8th. Finally, Wells Fargo & Company reduced their price objective on Corebridge Financial from $37.00 to $36.00 and set an “overweight” rating for the company in a research note on Wednesday, February 25th. Eight equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $36.27.

Corebridge Financial Price Performance

The company has a debt-to-equity ratio of 0.11, a current ratio of 0.12 and a quick ratio of 0.12. The business’s fifty day moving average price is $27.72 and its 200-day moving average price is $29.90. The stock has a market capitalization of $10.77 billion, a price-to-earnings ratio of -42.18, a PEG ratio of 0.39 and a beta of 1.11.

Corebridge Financial (NYSE:CRBG) last posted its earnings results on Wednesday, February 11th. The company reported $1.22 earnings per share for the quarter, topping analysts’ consensus estimates of $1.11 by $0.11. Corebridge Financial had a negative net margin of 1.73% and a positive return on equity of 18.92%. The company had revenue of $6.34 billion for the quarter, compared to analyst estimates of $5.02 billion. During the same quarter in the prior year, the business posted $1.06 EPS. On average, research analysts forecast that Corebridge Financial, Inc. will post 5.43 EPS for the current year.

Corebridge Financial Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Tuesday, March 17th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 4.5%. This is an increase from Corebridge Financial’s previous quarterly dividend of $0.24. The ex-dividend date is Tuesday, March 17th. Corebridge Financial’s dividend payout ratio is currently -188.68%.

Hedge Funds Weigh In On Corebridge Financial

A number of hedge funds have recently bought and sold shares of the company. Norges Bank bought a new position in shares of Corebridge Financial during the fourth quarter valued at about $611,550,000. Pzena Investment Management LLC boosted its holdings in Corebridge Financial by 19.3% during the third quarter. Pzena Investment Management LLC now owns 22,329,199 shares of the company’s stock worth $715,651,000 after purchasing an additional 3,605,498 shares during the last quarter. State Street Corp grew its position in Corebridge Financial by 44.3% in the 4th quarter. State Street Corp now owns 11,295,692 shares of the company’s stock worth $340,791,000 after purchasing an additional 3,465,371 shares in the last quarter. AQR Capital Management LLC grew its position in Corebridge Financial by 91.5% in the 4th quarter. AQR Capital Management LLC now owns 5,911,164 shares of the company’s stock worth $178,340,000 after purchasing an additional 2,823,801 shares in the last quarter. Finally, Amundi increased its stake in Corebridge Financial by 227.7% in the 4th quarter. Amundi now owns 3,551,944 shares of the company’s stock valued at $107,162,000 after buying an additional 2,467,981 shares during the last quarter. 98.25% of the stock is owned by hedge funds and other institutional investors.

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.