Corebridge Financial (NYSE:CRBG) Price Target Raised to $35.00 at Piper Sandler

Corebridge Financial (NYSE:CRBG) had its target price boosted by Piper Sandler from $34.00 to $35.00 in a research note issued to investors on Monday, Benzinga reports. The firm currently has an overweight rating on the stock.

Several other research analysts also recently weighed in on the stock. Wells Fargo & Company upped 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. Evercore ISI raised their price target on shares of Corebridge Financial from $30.00 to $32.00 and gave the stock an outperform rating in a research report on Thursday, April 11th. Morgan Stanley increased their price objective on shares of Corebridge Financial from $26.00 to $28.00 and gave the stock an equal weight rating in a research note on Monday, April 15th. UBS Group upped their target price on Corebridge Financial from $22.00 to $28.00 and gave the company a buy rating in a report on Wednesday, January 10th. Finally, Royal Bank of Canada reissued an outperform rating and issued a $32.00 price target on shares of Corebridge Financial in a report on Friday, April 12th. Three equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of Moderate Buy and an average price target of $29.17.

Corebridge Financial Trading Up 1.1 %

Shares of CRBG stock opened at $29.54 on Monday. The firm’s 50-day simple moving average is $26.71 and its 200-day simple moving average is $23.77. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.14 and a quick ratio of 0.14. Corebridge Financial has a 1-year low of $16.13 and a 1-year high of $29.59. The firm has a market cap of $18.39 billion, a P/E ratio of 7.69, a PEG ratio of 0.33 and a beta of 0.96.

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

Corebridge Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 14th will be issued a $0.23 dividend. The ex-dividend date is Friday, June 14th. This represents a $0.92 annualized dividend and a dividend yield of 3.11%. Corebridge Financial’s dividend payout ratio is currently 24.21%.

Hedge Funds Weigh In On Corebridge Financial

A number of institutional investors have recently bought and sold shares of the stock. Riverview Trust Co acquired a new position in shares of Corebridge Financial in the 1st quarter valued at about $25,000. EverSource Wealth Advisors LLC bought a new stake in Corebridge Financial during the 3rd quarter valued at approximately $28,000. Vestor Capital LLC bought a new position in Corebridge Financial during the fourth quarter worth $43,000. Cullen Frost Bankers Inc. bought a new stake in Corebridge Financial in the 3rd quarter valued at $55,000. Finally, Headlands Technologies LLC acquired a new stake in Corebridge Financial in the 4th quarter worth $65,000. Hedge funds and other institutional investors own 98.25% of the company’s stock.

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.