Keefe, Bruyette & Woods Cuts Corebridge Financial (NYSE:CRBG) Price Target to $37.00

Corebridge Financial (NYSE:CRBG) had its target price cut by Keefe, Bruyette & Woods from $40.00 to $37.00 in a research note issued to investors on Wednesday,Benzinga reports. They currently have an outperform rating on the stock.

CRBG has been the topic of a number of other reports. Piper Sandler boosted 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, April 2nd. BMO Capital Markets started coverage on Corebridge Financial in a report on Thursday, January 23rd. They issued an “outperform” rating and a $43.00 price target on the stock. Wells Fargo & Company raised their price objective on Corebridge Financial from $35.00 to $38.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 19th. Deutsche Bank Aktiengesellschaft raised Corebridge Financial from a “hold” rating to a “buy” rating and boosted their target price for the stock from $33.00 to $40.00 in a research report on Friday, January 10th. Finally, UBS Group lowered Corebridge Financial from a “buy” rating to a “sell” rating and decreased their price target for the company from $40.00 to $28.00 in a research report on Wednesday, April 2nd. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and eleven have assigned 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 price target of $36.15.

Corebridge Financial Stock Up 0.2 %

Shares of CRBG stock opened at $26.71 on Wednesday. Corebridge Financial has a 1 year low of $23.69 and a 1 year high of $35.36. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.13 and a current ratio of 0.13. The business’s fifty day moving average is $31.56 and its 200-day moving average is $31.24. The stock has a market cap of $14.85 billion, a PE ratio of 7.07, a price-to-earnings-growth ratio of 0.43 and a beta of 0.98.

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

Corebridge Financial Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 17th were given a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 3.59%. This is a positive change from Corebridge Financial’s previous quarterly dividend of $0.23. The ex-dividend date was Monday, March 17th. Corebridge Financial’s dividend payout ratio is 25.40%.

Institutional Investors Weigh In On Corebridge Financial

A number of institutional investors have recently modified their holdings of CRBG. Fortitude Family Office LLC acquired a new stake in shares of Corebridge Financial during the 4th quarter valued at about $27,000. FNY Investment Advisers LLC acquired a new position in Corebridge Financial in the fourth quarter worth approximately $27,000. Smartleaf Asset Management LLC raised its position in Corebridge Financial by 112.4% during the fourth quarter. Smartleaf Asset Management LLC now owns 907 shares of the company’s stock valued at $27,000 after acquiring an additional 480 shares in the last quarter. Oarsman Capital Inc. acquired a new stake in Corebridge Financial in the fourth quarter valued at approximately $30,000. Finally, Sunbelt Securities Inc. bought a new stake in Corebridge Financial in the fourth quarter worth $30,000. Institutional investors and hedge funds own 98.25% of the company’s stock.

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.