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

Shares of Corebridge Financial, Inc. (NYSE:CRBG) have been assigned a consensus recommendation of “Moderate Buy” from the eleven brokerages that are covering the stock, Marketbeat.com reports. Three equities research analysts have rated the stock with a hold recommendation and eight have given a buy recommendation to the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $29.08.

Several brokerages recently issued reports on CRBG. Evercore ISI raised their price objective on Corebridge Financial from $30.00 to $32.00 and gave the stock an “outperform” rating in a research note on Thursday, April 11th. Keefe, Bruyette & Woods raised their target price on Corebridge Financial from $35.00 to $38.00 and gave the company an “outperform” rating in a research note on Wednesday, April 10th. Royal Bank of Canada reiterated an “outperform” rating and issued a $32.00 target price on shares of Corebridge Financial in a research note on Friday, April 12th. Wells Fargo & Company raised their target price on Corebridge Financial from $30.00 to $33.00 and gave the company an “overweight” rating in a research note on Thursday, April 11th. Finally, Piper Sandler raised their target price on Corebridge Financial from $30.00 to $34.00 and gave the company an “overweight” rating in a research note on Friday, April 5th.

Corebridge Financial Stock Performance

Corebridge Financial stock opened at $26.54 on Friday. The stock has a market cap of $16.52 billion, a P/E ratio of 15.70, a price-to-earnings-growth ratio of 0.32 and a beta of 0.86. The company has a current ratio of 0.14, a quick ratio of 0.14 and a debt-to-equity ratio of 0.92. The stock has a 50 day moving average of $26.08 and a 200-day moving average of $23.15. Corebridge Financial has a 52 week low of $14.91 and a 52 week high of $29.40.

Corebridge Financial (NYSE:CRBG) last released its earnings results on Thursday, February 15th. The company reported $1.04 EPS for the quarter, beating the consensus estimate of $0.99 by $0.05. Corebridge Financial had a return on equity of 23.11% and a net margin of 5.92%. The company had revenue of $5.92 billion during the quarter, compared to analysts’ expectations of $5.65 billion. During the same period in the prior year, the business posted $0.88 EPS. The business’s revenue was up 11.3% on a year-over-year basis. On average, analysts expect that Corebridge Financial will post 4.84 EPS for the current fiscal year.

Corebridge Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were issued a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 3.47%. The ex-dividend date was Thursday, March 14th. Corebridge Financial’s dividend payout ratio (DPR) is 54.44%.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of CRBG. Riverview Trust Co acquired a new position in shares of Corebridge Financial during the first quarter valued at $25,000. EverSource Wealth Advisors LLC acquired a new position in Corebridge Financial during the third quarter worth about $28,000. Nomura Asset Management Co. Ltd. acquired a new position in Corebridge Financial during the first quarter worth about $30,000. MetLife Investment Management LLC acquired a new position in Corebridge Financial during the fourth quarter worth about $33,000. Finally, Advisor Group Holdings Inc. acquired a new position in Corebridge Financial during the fourth quarter worth about $35,000. 98.25% of the stock is owned by institutional investors and hedge funds.

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.