Corebridge Financial, Inc. (CRBG) To Go Ex-Dividend on March 17th

Corebridge Financial, Inc. (NYSE:CRBG) announced a quarterly dividend on Monday, February 9th. Investors of record on Tuesday, March 17th will be paid a dividend of 0.25 per share on Tuesday, March 31st. This represents a c) dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date is Tuesday, March 17th. This is a 4.2% increase from Corebridge Financial’s previous quarterly dividend of $0.24.

Corebridge Financial has a payout ratio of 16.7% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Corebridge Financial to earn $6.29 per share next year, which means the company should continue to be able to cover its $0.96 annual dividend with an expected future payout ratio of 15.3%.

Corebridge Financial Stock Up 0.6%

Shares of Corebridge Financial stock opened at $31.38 on Wednesday. The business’s 50 day simple moving average is $30.63 and its 200 day simple moving average is $31.73. 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 firm has a market cap of $16.33 billion, a PE ratio of -59.21, a P/E/G ratio of 0.44 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 released its earnings results on Monday, February 9th. The company reported $1.22 earnings per share for the quarter, beating the consensus estimate of $1.11 by $0.11. Corebridge Financial had a negative net margin of 1.73% and a positive return on equity of 18.93%. The business had revenue of $6.34 billion during the quarter, compared to analysts’ expectations of $5.02 billion. During the same period last year, the business earned $1.06 earnings per share. On average, analysts predict that Corebridge Financial will post 5.43 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

CRBG has been the subject of several recent research reports. Barclays reduced their price target on Corebridge Financial from $35.00 to $34.00 and set an “overweight” rating on the stock in a research report on Tuesday. JPMorgan Chase & Co. decreased their target price on shares of Corebridge Financial from $40.00 to $39.00 and set a “neutral” rating on the stock in a report on Monday, January 5th. Evercore cut their target price on Corebridge Financial from $38.00 to $37.00 and set an “outperform” rating for the company in a research note on Wednesday, November 5th. Zacks Research cut Corebridge Financial from a “hold” rating to a “strong sell” rating in a report on Tuesday, January 27th. Finally, Wells Fargo & Company reduced their price objective on Corebridge Financial from $43.00 to $37.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 13th. Seven investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $37.60.

About Corebridge Financial

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.