Corebridge Financial, Inc. Announces Quarterly Dividend of $0.23 (NYSE:CRBG)

Corebridge Financial, Inc. (NYSE:CRBG) declared a quarterly dividend on Monday, May 6th, Wall Street Journal reports. Investors of record on Friday, June 14th will be paid a dividend of 0.23 per share on Friday, June 28th. This represents a $0.92 annualized dividend and a dividend yield of 3.15%. The ex-dividend date of this dividend is Friday, June 14th.

Corebridge Financial Price Performance

Shares of CRBG opened at $29.21 on Tuesday. The business’s 50-day moving average is $26.71 and its two-hundred day moving average is $23.77. The company has a market capitalization of $18.18 billion, a P/E ratio of 7.69, a P/E/G ratio of 0.33 and a beta of 0.96. Corebridge Financial has a fifty-two week low of $16.13 and a fifty-two week high of $29.59. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.14 and a current ratio of 0.14.

Corebridge Financial (NYSE:CRBG) last issued its earnings results on Friday, May 3rd. The company reported $1.10 EPS for the quarter, topping analysts’ consensus estimates of $1.05 by $0.05. The firm had revenue of $5.85 billion for the quarter, compared to the consensus estimate of $5.50 billion. Corebridge Financial had a return on equity of 24.31% and a net margin of 11.25%. During the same quarter in the prior year, the business earned $0.97 earnings per share. Research analysts predict that Corebridge Financial will post 4.82 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. Keefe, Bruyette & Woods lifted their target price on shares of Corebridge Financial from $35.00 to $38.00 and gave the company an “outperform” rating in a report on Wednesday, April 10th. UBS Group upped their price objective on shares of Corebridge Financial from $22.00 to $28.00 and gave the stock a “buy” rating in a research report on Wednesday, January 10th. Royal Bank of Canada restated an “outperform” rating and set a $32.00 target price on shares of Corebridge Financial in a research report on Friday, April 12th. Morgan Stanley upped their price target on Corebridge Financial from $26.00 to $28.00 and gave the stock an “equal weight” rating in a report on Monday, April 15th. Finally, The Goldman Sachs Group raised their price objective on Corebridge Financial from $27.00 to $31.00 and gave the company a “buy” rating in a report on Tuesday, January 9th. Three equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, Corebridge Financial currently has a consensus rating of “Moderate Buy” and a consensus target price of $29.17.

About Corebridge Financial

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.