Analysts Set Corebridge Financial, Inc. (NYSE:CRBG) Price Target at $39.27

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

CRBG has been the topic of several research analyst reports. Wells Fargo & Company reduced 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. Keefe, Bruyette & Woods cut their price objective 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. Evercore ISI reduced their target price on Corebridge Financial from $38.00 to $37.00 and set an “outperform” rating on the stock in a report on Wednesday, November 5th. Wolfe Research started coverage on Corebridge Financial in a research note on Friday, October 10th. They issued a “peer perform” rating for the company. Finally, Mizuho started coverage on Corebridge Financial in a research report on Tuesday, December 16th. They set an “outperform” rating and a $38.00 price target on the stock.

Institutional Trading of Corebridge Financial

A number of hedge funds and other institutional investors have recently modified their holdings of CRBG. HighTower Advisors LLC purchased a new position in Corebridge Financial during the 1st quarter valued at about $218,000. Caisse DE Depot ET Placement DU Quebec bought a new position in shares of Corebridge Financial during the first quarter valued at approximately $1,620,000. OMERS ADMINISTRATION Corp lifted its holdings in shares of Corebridge Financial by 467.1% during the first quarter. OMERS ADMINISTRATION Corp now owns 60,342 shares of the company’s stock valued at $1,905,000 after purchasing an additional 49,702 shares during the last quarter. State of Wyoming lifted its holdings in shares of Corebridge Financial by 9.7% during the first quarter. State of Wyoming now owns 18,729 shares of the company’s stock valued at $591,000 after purchasing an additional 1,662 shares during the last quarter. Finally, Vident Advisory LLC bought a new stake in shares of Corebridge Financial in the 1st quarter worth approximately $762,000. 98.25% of the stock is owned by hedge funds and other institutional investors.

Corebridge Financial Stock Performance

Shares of CRBG stock opened at $30.38 on Friday. The stock has a fifty day moving average of $30.26 and a 200 day moving average of $32.51. Corebridge Financial has a 52 week low of $23.69 and a 52 week high of $36.57. The firm has a market capitalization of $15.81 billion, a price-to-earnings ratio of 18.08, a PEG ratio of 0.36 and a beta of 1.04. The company has a quick ratio of 0.13, a current ratio of 0.13 and a debt-to-equity ratio of 0.77.

Corebridge Financial (NYSE:CRBG) last issued 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 net margin of 5.01% and a return on equity of 19.90%. The company had revenue of $5.63 billion for the quarter, compared to analysts’ expectations of $4.85 billion. During the same period in the previous year, the firm posted $1.23 earnings per share. The firm’s revenue for the quarter was up 34.2% compared to the same quarter last year. As a group, research analysts expect that Corebridge Financial will post 5.43 earnings per share for the current year.

Corebridge Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 31st. Shareholders of record on Wednesday, December 17th were given a dividend of $0.24 per share. The ex-dividend date of this dividend was Wednesday, December 17th. This represents a $0.96 annualized dividend and a yield of 3.2%. Corebridge Financial’s dividend payout ratio (DPR) is currently 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.