Corebridge Financial (NYSE:CRBG – Free Report) had its price objective boosted by Morgan Stanley from $26.00 to $28.00 in a report released on Monday, Benzinga reports. They currently have an equal weight rating on the stock.
Several other research firms have also recently commented on CRBG. Wells Fargo & Company upped their price target on Corebridge Financial from $30.00 to $33.00 and gave the company an overweight rating in a report on Thursday, April 11th. UBS Group upped their price target on Corebridge Financial from $22.00 to $28.00 and gave the company a buy rating in a report on Wednesday, January 10th. Piper Sandler upped their price target on Corebridge Financial from $30.00 to $34.00 and gave the company an overweight rating in a report on Friday, April 5th. Royal Bank of Canada reiterated an outperform rating and issued a $32.00 price objective on shares of Corebridge Financial in a research note on Friday, April 12th. Finally, Keefe, Bruyette & Woods upped their price objective on Corebridge Financial from $35.00 to $38.00 and gave the company an outperform rating in a research note on Wednesday, April 10th. Three equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, Corebridge Financial currently has a consensus rating of Moderate Buy and a consensus price target of $29.08.
View Our Latest Stock Report on CRBG
Corebridge Financial Price Performance
Corebridge Financial (NYSE:CRBG – Get Free Report) last posted its quarterly 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. The firm had revenue of $5.92 billion during the quarter, compared to analysts’ expectations of $5.65 billion. Corebridge Financial had a return on equity of 23.11% and a net margin of 5.92%. The company’s revenue for the quarter was up 11.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.88 EPS. Research analysts anticipate that Corebridge Financial will post 4.84 EPS for the current year.
Corebridge Financial Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were paid a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 3.47%. The ex-dividend date of this dividend was Thursday, March 14th. Corebridge Financial’s dividend payout ratio (DPR) is currently 54.44%.
Institutional Investors Weigh In On Corebridge Financial
Several institutional investors and hedge funds have recently added to or reduced their stakes in CRBG. Riverview Trust Co acquired a new position in shares of Corebridge Financial during the first quarter worth $25,000. EverSource Wealth Advisors LLC acquired a new position in shares of Corebridge Financial during the third quarter worth $28,000. Nomura Asset Management Co. Ltd. acquired a new position in shares of Corebridge Financial during the first quarter worth $30,000. MetLife Investment Management LLC acquired a new position in shares of Corebridge Financial during the fourth quarter worth $33,000. Finally, Advisor Group Holdings Inc. acquired a new position in shares of Corebridge Financial during the fourth quarter worth $35,000. 98.25% of the stock is currently owned by institutional investors.
About Corebridge Financial
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.
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