Corebridge Financial (CRBG) Projected to Post Earnings on Wednesday

Corebridge Financial (NYSE:CRBG) is projected to post its quarterly earnings results after the market closes on Wednesday, February 12th. Analysts expect Corebridge Financial to post earnings of $1.27 per share and revenue of $5.86 billion for the quarter. Investors that are interested in registering for the company’s conference call can do so using this link.

Corebridge Financial Stock Performance

NYSE:CRBG opened at $33.12 on Tuesday. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.14 and a quick ratio of 0.14. The firm has a market cap of $18.84 billion, a PE ratio of -15.84, a P/E/G ratio of 0.37 and a beta of 0.94. The firm has a 50 day simple moving average of $31.36 and a 200-day simple moving average of $30.08. Corebridge Financial has a 1-year low of $23.34 and a 1-year high of $34.66.

Wall Street Analyst Weigh In

Several brokerages have weighed in on CRBG. TD Cowen boosted their price target on Corebridge Financial from $35.00 to $37.00 and gave the company a “buy” rating in a report on Wednesday, November 27th. DOWLING & PARTN downgraded Corebridge Financial from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 26th. Piper Sandler raised their price target on Corebridge Financial from $34.00 to $35.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 18th. Morgan Stanley upped their price objective on shares of Corebridge Financial from $31.00 to $34.00 and gave the company an “equal weight” rating in a research note on Tuesday, November 5th. Finally, Wells Fargo & Company decreased their target price on shares of Corebridge Financial from $37.00 to $35.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 14th. Three investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, Corebridge Financial currently has an average rating of “Moderate Buy” and an average target price of $36.43.

Insider Buying and Selling

In related news, major shareholder International Group American sold 121,956,256 shares of the firm’s stock in a transaction on Monday, December 9th. The shares were sold at an average price of $31.47, for a total transaction of $3,837,963,376.32. Following the completion of the sale, the insider now directly owns 127,282,642 shares of the company’s stock, valued at approximately $4,005,584,743.74. This trade represents a 48.93 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.08% of the stock is owned by corporate insiders.

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.