Corebridge Financial (CRBG) to Release Earnings on Wednesday

Corebridge Financial (NYSE:CRBG - Get Free Report) will likely be announcing its earnings results after the market closes on Wednesday, February 12th. Analysts expect the company to announce earnings of $1.27 per share and revenue of $5.86 billion for the quarter. Individual that wish to listen to the company's earnings conference call can do so using this link.

Corebridge Financial (NYSE:CRBG - Get Free Report) last announced its earnings results on Monday, November 4th. The company reported $1.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.17 by $0.21. The company had revenue of $5.53 billion for the quarter, compared to analysts' expectations of $5.66 billion. Corebridge Financial had a positive return on equity of 22.24% and a negative net margin of 6.10%. Corebridge Financial's quarterly revenue was up 39.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.05 earnings per share. On average, analysts expect Corebridge Financial to post $5 EPS for the current fiscal year and $6 EPS for the next fiscal year.

Corebridge Financial Stock Up 1.3 %

Shares of CRBG stock traded up $0.42 on Wednesday, hitting $33.23. The stock had a trading volume of 2,048,959 shares, compared to its average volume of 3,144,820. 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 stock has a market cap of $18.90 billion, a price-to-earnings ratio of -15.90, a price-to-earnings-growth ratio of 0.38 and a beta of 0.94. The business has a 50 day moving average of $31.31 and a 200 day moving average of $30.00. Corebridge Financial has a 12-month low of $23.01 and a 12-month high of $34.66.

Insider Transactions at Corebridge Financial

In other Corebridge Financial news, major shareholder International Group American sold 121,956,256 shares of the stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $31.47, for a total value of $3,837,963,376.32. Following the transaction, the insider now owns 127,282,642 shares of the company's stock, valued at approximately $4,005,584,743.74. This represents a 48.93 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.08% of the company's stock.

Analysts Set New Price Targets

CRBG has been the topic of a number of research analyst reports. Morgan Stanley boosted their target price 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. Barclays raised shares of Corebridge Financial from an "equal weight" rating to an "overweight" rating and set a $37.00 target price on the stock in a research note on Monday, January 6th. Piper Sandler boosted their target price on Corebridge Financial from $34.00 to $35.00 and gave the stock an "overweight" rating in a research report on Wednesday, December 18th. Deutsche Bank Aktiengesellschaft upgraded shares of Corebridge Financial from a "hold" rating to a "buy" rating and upped their price target for the company from $33.00 to $40.00 in a report on Friday, January 10th. Finally, DOWLING & PARTN cut shares of Corebridge Financial from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, November 26th. Three research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, Corebridge Financial has an average rating of "Moderate Buy" and a consensus price target of $36.43.

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.