Analysts Set Corebridge Financial, Inc. (NYSE:CRBG) PT at $36.75

Shares of Corebridge Financial, Inc. (NYSE:CRBG) have been assigned a consensus rating of “Moderate Buy” from the fifteen brokerages that are presently covering the firm, Marketbeat reports. Six analysts have rated the stock with a hold rating and nine have issued a buy rating on the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $37.1667.

Several research firms have commented on CRBG. Wells Fargo & Company increased their price objective on shares of Corebridge Financial from $35.00 to $36.00 and gave the company an “overweight” rating in a report on Thursday, July 9th. UBS Group lifted their target price on Corebridge Financial from $29.00 to $32.00 and gave the stock a “neutral” rating in a report on Wednesday, July 8th. Zacks Research upgraded Corebridge Financial from a “strong sell” rating to a “hold” rating in a research report on Monday, June 22nd. Piper Sandler increased their price target on Corebridge Financial from $36.00 to $38.00 and gave the company an “overweight” rating in a research note on Wednesday. Finally, Barclays raised their price target on Corebridge Financial from $30.00 to $33.00 and gave the company an “overweight” rating in a report on Tuesday, July 7th.

Corebridge Financial Price Performance

CRBG stock opened at $33.67 on Monday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.12 and a current ratio of 0.12. The company’s fifty day moving average price is $30.35 and its 200-day moving average price is $28.12. Corebridge Financial has a one year low of $22.19 and a one year high of $35.22. The company has a market capitalization of $15.01 billion, a PE ratio of 19.69, a price-to-earnings-growth ratio of 0.43 and a beta of 1.08.

Corebridge Financial (NYSE:CRBG) last posted its earnings results on Tuesday, August 4th. The company reported $1.12 earnings per share for the quarter, beating the consensus estimate of $1.08 by $0.04. The company had revenue of $4.30 billion during the quarter, compared to analysts’ expectations of $4.66 billion. Corebridge Financial had a net margin of 4.37% and a return on equity of 17.37%. During the same period last year, the company posted $1.36 earnings per share. On average, equities analysts anticipate that Corebridge Financial will post 4.56 EPS for the current fiscal year.

Corebridge Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Wednesday, September 16th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date is Wednesday, September 16th. Corebridge Financial’s dividend payout ratio is currently 58.48%.

Insider Buying and Selling at Corebridge Financial

In related news, insider David Ditillo sold 12,414 shares of the business’s stock in a transaction on Thursday, August 6th. The shares were sold at an average price of $34.00, for a total value of $422,076.00. Following the sale, the insider owned 111,153 shares in the company, valued at approximately $3,779,202. The trade was a 10.05% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.32% of the company’s stock.

Hedge Funds Weigh In On Corebridge Financial

Several institutional investors have recently bought and sold shares of CRBG. Bank of Nova Scotia grew its position in Corebridge Financial by 3.8% in the 2nd quarter. Bank of Nova Scotia now owns 9,328 shares of the company’s stock valued at $331,000 after acquiring an additional 340 shares during the last quarter. Integrated Wealth Concepts LLC raised its holdings in shares of Corebridge Financial by 2.5% in the third quarter. Integrated Wealth Concepts LLC now owns 15,424 shares of the company’s stock valued at $494,000 after acquiring an additional 383 shares in the last quarter. Van ECK Associates Corp lifted its position in shares of Corebridge Financial by 10.2% in the 4th quarter. Van ECK Associates Corp now owns 4,684 shares of the company’s stock worth $141,000 after purchasing an additional 435 shares during the period. Empowered Funds LLC boosted its position in Corebridge Financial by 7.1% during the 4th quarter. Empowered Funds LLC now owns 7,042 shares of the company’s stock valued at $212,000 after acquiring an additional 465 shares in the last quarter. Finally, Assetmark Inc. boosted its position in Corebridge Financial by 35.0% during the fourth quarter. Assetmark Inc. now owns 1,877 shares of the company’s stock valued at $57,000 after purchasing an additional 487 shares in the last quarter. Institutional investors own 98.25% of the company’s stock.

About Corebridge Financial

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.