Corebridge Financial (NYSE:CRBG) Price Target Raised to $40.00

Corebridge Financial (NYSE:CRBG) had its price target increased by TD Cowen from $38.00 to $40.00 in a research report report published on Wednesday morning,Benzinga reports. TD Cowen currently has a buy rating on the stock.

Several other analysts have also recently commented on the stock. Jefferies Financial Group upped their target price on shares of Corebridge Financial from $43.00 to $45.00 and gave the company a “buy” rating in a research report on Friday, July 10th. Keefe, Bruyette & Woods increased their price target on Corebridge Financial from $40.00 to $43.00 and gave the company an “outperform” rating in a research note on Tuesday, August 11th. Mizuho raised their price target on Corebridge Financial from $38.00 to $40.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 7th. Wells Fargo & Company lifted their price objective on Corebridge Financial from $39.00 to $40.00 and gave the stock an “overweight” rating in a research note on Monday, October 12th. Finally, Piper Sandler lifted their price objective on Corebridge Financial from $38.00 to $40.00 and gave the stock an “overweight” rating in a research note on Monday, October 12th. Nine research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $39.00.

Corebridge Financial Trading Down 4.1%

CRBG opened at $34.15 on Wednesday. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.12 and a quick ratio of 0.12. The company has a market cap of $15.22 billion, a price-to-earnings ratio of 19.97, a price-to-earnings-growth ratio of 0.51 and a beta of 1.07. The firm has a 50 day simple moving average of $33.92 and a 200 day simple moving average of $30.59. Corebridge Financial has a fifty-two week low of $22.19 and a fifty-two week high of $35.64.

Corebridge Financial (NYSE:CRBG) last announced its quarterly earnings data on Wednesday, August 5th. The company reported $1.12 earnings per share for the quarter, beating the consensus estimate of $1.08 by $0.04. Corebridge Financial had a net margin of 4.37% and a return on equity of 17.37%. The business had revenue of $4.30 billion for the quarter, compared to analyst estimates of $4.66 billion. During the same period in the prior year, the business posted $1.36 earnings per share. On average, sell-side analysts anticipate that Corebridge Financial will post 4.59 earnings per share for the current year.

Corebridge Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 30th. Stockholders of record on Wednesday, September 16th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 2.9%. The ex-dividend date of this dividend was Wednesday, September 16th. Corebridge Financial’s dividend payout ratio is currently 58.48%.

Insider Buying and Selling at Corebridge Financial

In other news, major shareholder Life Insurance Co Nippon acquired 805,782 shares of the firm’s stock in a transaction that occurred on Monday, September 28th. The stock was acquired at an average cost of $34.15 per share, for a total transaction of $27,517,455.30. Following the completion of the acquisition, the insider owned 125,579,654 shares in the company, valued at $4,288,545,184.10. This represents a 0.65% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Over the last ninety days, insiders bought 8,259,995 shares of company stock worth $283,393,906 and sold 28,895 shares worth $983,886. 0.32% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Corebridge Financial

Institutional investors have recently bought and sold shares of the company. Wellington Management Group LLP bought a new stake in shares of Corebridge Financial in the second quarter worth $99,469,000. WINTON GROUP Ltd acquired a new position in Corebridge Financial during the second quarter worth $1,729,000. Nykredit A S acquired a new position in Corebridge Financial during the second quarter worth $1,347,000. Man Group plc bought a new position in Corebridge Financial in the second quarter valued at $1,089,000. Finally, Public Employees Retirement System of Ohio bought a new position in Corebridge Financial in the second quarter valued at $2,744,000. Institutional investors own 98.25% of the company’s stock.

Corebridge Financial News Roundup

Here are the key news stories impacting Corebridge Financial this week:

• Positive Sentiment: Major shareholder Nippon Life continued buying CRBG shares. Nippon acquired 217,182 shares for approximately $7.7 million on October 21, following purchases of 193,357 shares for about $6.8 million on October 20 and 162,024 shares for roughly $5.6 million on October 19. The repeated buying signals confidence from a shareholder that now owns more than 130 million shares. SEC ownership filing
• Positive Sentiment: TD Cowen raised its CRBG price target from $38 to $40 and maintained a “Buy” rating. The target increase reinforces the favorable analyst outlook and suggests additional potential upside. TD Cowen raises Corebridge Financial price target
• Positive Sentiment: Other analysts remain constructive. Piper Sandler also set a $40 target with an “Overweight” rating, while Keefe, Bruyette & Woods has a $43 target and “Outperform” rating. The broader consensus is “Moderate Buy,” with an average target of $39.
• Neutral Sentiment: Recent earnings were mixed. Corebridge beat quarterly EPS expectations, reporting $1.12 versus the $1.08 consensus, but revenue of $4.30 billion missed estimates of $4.66 billion and EPS declined from $1.36 a year earlier. These results may temper enthusiasm until the next report.
• Neutral Sentiment: CRBG is trading near its annual high and above its key moving averages. That strong momentum supports the long-term case but may also encourage short-term investors to lock in gains, potentially explaining the recent weakness despite positive insider activity.
• Neutral Sentiment: The $0.25 quarterly dividend remains in place, equating to a $1.00 annualized payout and an approximately 2.8% yield, providing ongoing income support.

About Corebridge Financial

Corebridge Financial, Inc (NYSE: CRBG) is a provider of retirement solutions and insurance products in the United States. The company serves individuals, employers and institutions through offerings designed to support retirement savings, income planning and financial protection.

Its products and services include individual and group retirement plans, annuities, life insurance and institutional retirement solutions. Corebridge also provides investment and administrative services associated with retirement plans, helping employers and employees manage long-term savings and retirement income needs.

Corebridge was established through the separation of American International Group’s (AIG) Life and Retirement business and began operating as an independent publicly traded company in 2022.