Corebridge Financial, Inc. (CRBG) To Go Ex-Dividend on March 17th

Corebridge Financial, Inc. (NYSE:CRBG) declared a quarterly dividend on Wednesday, February 12th, Wall Street Journal reports. Shareholders of record on Monday, March 17th will be given a dividend of 0.24 per share on Monday, March 31st. This represents a $0.96 dividend on an annualized basis and a yield of 3.02%. The ex-dividend date of this dividend is Monday, March 17th. This is a 4.3% increase from Corebridge Financial’s previous quarterly dividend of $0.23.

Corebridge Financial has a dividend payout ratio of 15.8% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Corebridge Financial to earn $6.29 per share next year, which means the company should continue to be able to cover its $0.96 annual dividend with an expected future payout ratio of 15.3%.

Corebridge Financial Stock Up 4.0 %

CRBG opened at $31.78 on Friday. The stock has a market cap of $17.67 billion, a price-to-earnings ratio of 8.41, a PEG ratio of 0.43 and a beta of 0.92. The company has a quick ratio of 0.13, a current ratio of 0.13 and a debt-to-equity ratio of 0.16. The company’s 50-day moving average price is $32.42 and its two-hundred day moving average price is $30.92. Corebridge Financial has a twelve month low of $23.97 and a twelve month high of $35.36.

Corebridge Financial (NYSE:CRBG) last announced its quarterly earnings results on Wednesday, February 12th. The company reported $1.23 EPS for the quarter, missing analysts’ consensus estimates of $1.27 by ($0.04). Corebridge Financial had a net margin of 11.39% and a return on equity of 22.69%. As a group, equities analysts expect that Corebridge Financial will post 5.43 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts recently commented on CRBG shares. BMO Capital Markets started coverage on shares of Corebridge Financial in a research note on Thursday, January 23rd. They set an “outperform” rating and a $43.00 price target on the stock. Wells Fargo & Company upped their target price on shares of Corebridge Financial from $35.00 to $38.00 and gave the stock an “overweight” rating in a report on Wednesday, February 19th. Piper Sandler upped their target price on shares of Corebridge Financial from $34.00 to $35.00 and gave the stock an “overweight” rating in a report on Wednesday, December 18th. TD Cowen upped their target price on shares of Corebridge Financial from $35.00 to $37.00 and gave the stock a “buy” rating in a report on Wednesday, November 27th. Finally, Morgan Stanley raised shares of Corebridge Financial from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $35.00 to $43.00 in a report on Friday, February 28th. Two equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, Corebridge Financial presently has a consensus rating of “Moderate Buy” and a consensus target price of $37.29.

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.