Corebridge Financial, Inc. (NYSE:CRBG) Given Average Rating of “Hold” by Analysts

Corebridge Financial, Inc. (NYSE:CRBG) has been given a consensus rating of “Hold” by the thirteen analysts that are presently covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have given a buy rating to the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $37.60.

A number of research analysts recently weighed in on the stock. Evercore dropped their price target on shares of Corebridge Financial from $38.00 to $37.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 5th. Wells Fargo & Company decreased their price target on Corebridge Financial from $43.00 to $37.00 and set an “overweight” rating for the company in a research report on Tuesday, January 13th. UBS Group decreased their price objective on Corebridge Financial from $35.00 to $33.00 and set a “neutral” rating for the company in a report on Thursday, January 8th. Barclays dropped their price objective on Corebridge Financial from $35.00 to $34.00 and set an “overweight” rating for the company in a research note on Tuesday, February 10th. Finally, Morgan Stanley reaffirmed an “equal weight” rating and issued a $33.00 price target (down previously from $39.00) on shares of Corebridge Financial in a report on Monday, November 17th.

Institutional Trading of Corebridge Financial

A number of hedge funds have recently made changes to their positions in the stock. IFP Advisors Inc raised its position in Corebridge Financial by 1,223.6% during the second quarter. IFP Advisors Inc now owns 728 shares of the company’s stock valued at $26,000 after purchasing an additional 673 shares in the last quarter. Allworth Financial LP purchased a new stake in Corebridge Financial during the second quarter valued at about $26,000. Community Bank N.A. purchased a new position in Corebridge Financial in the 3rd quarter worth approximately $26,000. Salomon & Ludwin LLC lifted its holdings in Corebridge Financial by 179.7% in the 4th quarter. Salomon & Ludwin LLC now owns 828 shares of the company’s stock worth $26,000 after buying an additional 532 shares during the period. Finally, Smartleaf Asset Management LLC boosted its stake in shares of Corebridge Financial by 83.6% during the 3rd quarter. Smartleaf Asset Management LLC now owns 828 shares of the company’s stock valued at $27,000 after purchasing an additional 377 shares in the last quarter. 98.25% of the stock is owned by institutional investors.

Corebridge Financial Price Performance

Corebridge Financial stock opened at $29.62 on Monday. The stock has a 50-day moving average price of $30.63 and a two-hundred day moving average price of $31.48. Corebridge Financial has a 12 month low of $23.69 and a 12 month high of $36.57. The company has a market capitalization of $14.27 billion, a PE ratio of -55.88, a P/E/G ratio of 0.39 and a beta of 1.04. The company has a current ratio of 0.12, a quick ratio of 0.12 and a debt-to-equity ratio of 0.11.

Corebridge Financial (NYSE:CRBG) last issued its quarterly earnings data on Monday, February 9th. The company reported $1.22 EPS for the quarter, topping the consensus estimate of $1.11 by $0.11. The firm had revenue of $6.34 billion during the quarter, compared to the consensus estimate of $5.02 billion. Corebridge Financial had a positive return on equity of 18.92% and a negative net margin of 1.73%.During the same period in the prior year, the business posted $1.06 earnings per share. Analysts expect that Corebridge Financial will post 5.43 EPS for the current year.

Corebridge Financial Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 17th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Tuesday, March 17th. This represents a $1.00 dividend on an annualized basis and a yield of 3.4%. This is a boost from Corebridge Financial’s previous quarterly dividend of $0.24. Corebridge Financial’s dividend payout ratio is presently -181.13%.

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.