Corebridge Financial, Inc. (CRBG) to Distribute Quarterly Dividend of $0.25 on September 30th

Corebridge Financial, Inc. (NYSE:CRBG) announced a quarterly dividend on Tuesday, August 4th. Investors of record on Wednesday, September 16th will be paid a dividend of 0.25 per share on Wednesday, September 30th. This represents a c) annualized dividend and a yield of 3.0%. The ex-dividend date is Wednesday, September 16th.

Corebridge Financial has a dividend payout ratio of 17.4% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Corebridge Financial to earn $5.75 per share next year, which means the company should continue to be able to cover its $1.00 annual dividend with an expected future payout ratio of 17.4%.

Corebridge Financial Stock Performance

NYSE CRBG opened at $33.49 on Thursday. The company has a fifty day moving average of $29.63 and a two-hundred day moving average of $28.00. The company has a market capitalization of $14.93 billion, a PE ratio of 19.58, a P/E/G ratio of 0.40 and a beta of 1.08. Corebridge Financial has a 1 year low of $22.19 and a 1 year high of $35.22. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.12 and a quick ratio of 0.12.

Corebridge Financial (NYSE:CRBG) last issued its quarterly earnings data on Tuesday, August 4th. The company reported $1.12 earnings per share for the quarter, beating analysts’ consensus estimates of $1.08 by $0.04. The company had revenue of $4.30 billion during the quarter, compared to analysts’ expectations of $4.66 billion. Corebridge Financial had a return on equity of 16.68% and a net margin of 4.37%.During the same quarter in the previous year, the business earned $1.36 earnings per share. As a group, analysts expect that Corebridge Financial will post 4.55 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. Piper Sandler increased their price target on Corebridge Financial from $31.00 to $36.00 and gave the stock an “overweight” rating in a report on Wednesday, July 15th. UBS Group lifted their price objective on Corebridge Financial from $29.00 to $32.00 and gave the company a “neutral” rating in a report on Wednesday, July 8th. Bank of America cut their target price on Corebridge Financial from $42.00 to $40.00 and set a “buy” rating for the company in a research note on Tuesday, April 14th. Mizuho lifted their price target on Corebridge Financial from $35.00 to $36.00 and gave the company an “outperform” rating in a research note on Thursday, July 9th. Finally, Weiss Ratings cut Corebridge Financial from a “hold (c)” rating to a “hold (c-)” rating in a research report on Tuesday, May 26th. Nine investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $36.75.

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.