Corebridge Financial (NYSE:CRBG) Sets New 1-Year High at $29.40

Corebridge Financial, Inc. (NYSE:CRBG) shares hit a new 52-week high during trading on Thursday . The stock traded as high as $29.40 and last traded at $28.43, with a volume of 329071 shares trading hands. The stock had previously closed at $28.15.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on CRBG shares. Wells Fargo & Company increased their target price on Corebridge Financial from $28.00 to $30.00 and gave the stock an “overweight” rating in a report on Friday, February 16th. Keefe, Bruyette & Woods raised their price target on shares of Corebridge Financial from $31.00 to $35.00 and gave the company an “outperform” rating in a research report on Friday, February 16th. Royal Bank of Canada boosted their price objective on Corebridge Financial from $25.00 to $28.00 and gave the stock an “outperform” rating in a report on Friday, February 16th. The Goldman Sachs Group upped their price target on Corebridge Financial from $27.00 to $31.00 and gave the stock a “buy” rating in a report on Tuesday, January 9th. Finally, UBS Group increased their price objective on shares of Corebridge Financial from $22.00 to $28.00 and gave the company a “buy” rating in a research note on Wednesday, January 10th. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $27.00.

Corebridge Financial Stock Performance

The company has a current ratio of 0.14, a quick ratio of 0.14 and a debt-to-equity ratio of 0.92. The company has a market cap of $17.81 billion, a PE ratio of 16.67, a P/E/G ratio of 0.32 and a beta of 0.83. The business has a fifty day moving average of $24.92 and a 200-day moving average of $22.22.

Corebridge Financial (NYSE:CRBG) last released its earnings results on Thursday, February 15th. The company reported $1.04 EPS for the quarter, beating analysts’ consensus estimates of $0.99 by $0.05. Corebridge Financial had a return on equity of 23.11% and a net margin of 5.92%. The company had revenue of $5.92 billion during the quarter, compared to analysts’ expectations of $5.65 billion. During the same quarter last year, the business posted $0.88 EPS. The firm’s revenue for the quarter was up 11.3% compared to the same quarter last year. Equities research analysts anticipate that Corebridge Financial, Inc. will post 4.97 earnings per share for the current fiscal year.

Corebridge Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 29th. Investors of record on Friday, March 15th will be issued a $0.23 dividend. The ex-dividend date of this dividend is Thursday, March 14th. This represents a $0.92 dividend on an annualized basis and a yield of 3.22%. Corebridge Financial’s payout ratio is currently 54.44%.

Hedge Funds Weigh In On Corebridge Financial

Hedge funds have recently bought and sold shares of the business. EverSource Wealth Advisors LLC bought a new position in Corebridge Financial in the third quarter valued at about $28,000. Nomura Asset Management Co. Ltd. purchased a new position in Corebridge Financial in the 1st quarter worth approximately $30,000. MetLife Investment Management LLC bought a new position in shares of Corebridge Financial during the 4th quarter valued at about $33,000. Advisor Group Holdings Inc. purchased a new position in shares of Corebridge Financial in the fourth quarter valued at $35,000. Finally, American International Group Inc. boosted its holdings 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 worth $41,000 after purchasing an additional 634 shares during the period. 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.