Corebridge Financial, Inc. (NYSE:CRBG) Given Average Recommendation of “Moderate Buy” by Analysts

Shares of Corebridge Financial, Inc. (NYSE:CRBG) have been given an average rating of “Moderate Buy” by the fifteen analysts that are covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have given a buy rating to the company. The average 12 month price objective among analysts that have covered the stock in the last year is $35.1667.

Several research firms recently issued reports on CRBG. Zacks Research cut Corebridge Financial from a “hold” rating to a “strong sell” rating in a report on Monday, May 4th. JPMorgan Chase & Co. decreased their target price on shares of Corebridge Financial from $37.00 to $36.00 and set a “neutral” rating on the stock in a research note on Tuesday, May 12th. Bank of America decreased their target price on shares of Corebridge Financial from $42.00 to $40.00 and set a “buy” rating on the stock in a research note on Tuesday, April 14th. Weiss Ratings lowered shares of Corebridge Financial from a “hold (c)” rating to a “hold (c-)” rating in a research note on Tuesday, May 26th. Finally, Keefe, Bruyette & Woods raised their target price on shares of Corebridge Financial from $31.00 to $38.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 6th.

Corebridge Financial Trading Up 1.7%

CRBG stock opened at $27.03 on Wednesday. The company has a current ratio of 0.12, a quick ratio of 0.12 and a debt-to-equity ratio of 0.99. Corebridge Financial has a 12-month low of $22.19 and a 12-month high of $36.57. The stock has a market cap of $12.35 billion, a price-to-earnings ratio of 49.15, a PEG ratio of 0.29 and a beta of 1.14. The business’s 50-day moving average is $25.98 and its 200 day moving average is $28.10.

Corebridge Financial (NYSE:CRBG) last posted its quarterly earnings data on Wednesday, May 6th. The company reported $1.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.07 by ($0.02). Corebridge Financial had a return on equity of 18.44% and a net margin of 1.20%.The firm had revenue of $4.09 billion during the quarter, compared to analyst estimates of $5.06 billion. During the same quarter in the previous year, the firm posted $1.16 earnings per share. On average, sell-side analysts anticipate that Corebridge Financial will post 4.89 EPS for the current fiscal year.

Corebridge Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 16th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 3.7%. The ex-dividend date of this dividend is Tuesday, June 16th. Corebridge Financial’s dividend payout ratio (DPR) is 181.82%.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of CRBG. Community Bank N.A. purchased a new position in Corebridge Financial in the 3rd quarter worth approximately $26,000. Salomon & Ludwin LLC lifted its stake 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 purchasing an additional 532 shares in the last quarter. Smartleaf Asset Management LLC lifted its stake in Corebridge Financial by 83.6% in the 3rd quarter. Smartleaf Asset Management LLC now owns 828 shares of the company’s stock worth $27,000 after purchasing an additional 377 shares in the last quarter. Rothschild Investment LLC raised its position in shares of Corebridge Financial by 133.3% during the 4th quarter. Rothschild Investment LLC now owns 910 shares of the company’s stock valued at $27,000 after buying an additional 520 shares during the period. Finally, Sonoma Allocations LLC purchased a new stake in shares of Corebridge Financial during the 1st quarter valued at approximately $30,000. 98.25% of the stock is owned by hedge funds and other institutional investors.

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.