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

Corebridge Financial, Inc. (NYSE:CRBG) announced 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 is Friday, June 14th.

Corebridge Financial Stock Up 1.9 %

Shares of CRBG traded up $0.54 on Monday, hitting $29.22. 3,277,507 shares of the stock traded hands, compared to its average volume of 4,274,721. The company has a market capitalization of $18.19 billion, a PE ratio of 7.72, a P/E/G ratio of 0.33 and a beta of 0.96. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.14 and a current ratio of 0.14. The business has a 50 day simple moving average of $26.61 and a 200 day simple moving average of $23.71. Corebridge Financial has a one year low of $16.13 and a one year high of $29.59.

Corebridge Financial (NYSE:CRBG) last announced its quarterly earnings results on Friday, May 3rd. The company reported $1.10 earnings per share for the quarter, beating the consensus estimate of $1.05 by $0.05. Corebridge Financial had a net margin of 11.25% and a return on equity of 24.31%. The company had revenue of $5.85 billion during the quarter, compared to the consensus estimate of $5.50 billion. During the same quarter last year, the firm earned $0.97 earnings per share. As a group, equities analysts forecast that Corebridge Financial will post 4.82 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have recently weighed in on CRBG. The Goldman Sachs Group lifted their price target on shares of Corebridge Financial from $27.00 to $31.00 and gave the stock a “buy” rating in a research note on Tuesday, January 9th. Morgan Stanley lifted their target price on shares of Corebridge Financial from $26.00 to $28.00 and gave the company an “equal weight” rating in a research note on Monday, April 15th. Wells Fargo & Company lifted their target price on shares of Corebridge Financial from $30.00 to $33.00 and gave the company an “overweight” rating in a research note on Thursday, April 11th. 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 research note on Wednesday, April 10th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $32.00 target price on shares of Corebridge Financial in a research note on Friday, April 12th. Three investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $29.17.

Corebridge Financial Company Profile

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.