Corebridge Financial, Inc. (NYSE:CRBG) Given Consensus Rating of "Moderate Buy" by Brokerages

Shares of Corebridge Financial, Inc. (NYSE:CRBG - Get Free Report) have earned a consensus rating of "Moderate Buy" from the fourteen ratings firms that are covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and eleven have issued a buy recommendation on the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $36.15.

CRBG has been the subject of several recent research reports. Barclays reduced their price objective on Corebridge Financial from $37.00 to $36.00 and set an "overweight" rating for the company in a research note on Friday, April 11th. BMO Capital Markets assumed coverage on shares of Corebridge Financial in a research report on Thursday, January 23rd. They set an "outperform" rating and a $43.00 price target on the stock. Morgan Stanley cut their price objective on shares of Corebridge Financial from $43.00 to $32.00 and set an "overweight" rating for the company in a report on Thursday, April 10th. Deutsche Bank Aktiengesellschaft raised shares of Corebridge Financial from a "hold" rating to a "buy" rating and raised their target price for the stock from $33.00 to $40.00 in a research note on Friday, January 10th. Finally, Keefe, Bruyette & Woods dropped their price target on Corebridge Financial from $40.00 to $37.00 and set an "outperform" rating for the company in a research report on Wednesday, April 9th.

Institutional Investors Weigh In On Corebridge Financial

A number of institutional investors have recently made changes to their positions in CRBG. Fortitude Family Office LLC purchased a new position in shares of Corebridge Financial during the 4th quarter worth approximately $27,000. FNY Investment Advisers LLC purchased a new position in shares of Corebridge Financial during the fourth quarter worth $27,000. Smartleaf Asset Management LLC boosted its position in shares of Corebridge Financial by 112.4% during the fourth quarter. Smartleaf Asset Management LLC now owns 907 shares of the company's stock worth $27,000 after buying an additional 480 shares during the period. Oarsman Capital Inc. purchased a new stake in shares of Corebridge Financial in the 4th quarter valued at $30,000. Finally, Sunbelt Securities Inc. acquired a new position in Corebridge Financial during the 4th quarter worth about $30,000. 98.25% of the stock is currently owned by institutional investors and hedge funds.

Corebridge Financial Price Performance

CRBG traded up $0.79 during midday trading on Tuesday, hitting $29.04. 3,196,665 shares of the company traded hands, compared to its average volume of 3,568,768. The business has a 50 day simple moving average of $30.72 and a two-hundred day simple moving average of $31.16. Corebridge Financial has a 52-week low of $23.69 and a 52-week high of $35.36. The company has a market capitalization of $16.15 billion, a price-to-earnings ratio of 7.68, a PEG ratio of 0.43 and a beta of 0.98. The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 0.16.

Corebridge Financial (NYSE:CRBG - Get Free Report) last posted its quarterly earnings data on Wednesday, February 12th. The company reported $1.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.27 by ($0.04). Corebridge Financial had a return on equity of 22.69% and a net margin of 11.39%. On average, equities analysts forecast that Corebridge Financial will post 5.43 earnings per share for the current fiscal year.

Corebridge Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 17th were issued a $0.24 dividend. This is a positive change from Corebridge Financial's previous quarterly dividend of $0.23. This represents a $0.96 annualized dividend and a yield of 3.31%. The ex-dividend date was Monday, March 17th. Corebridge Financial's payout ratio is 25.40%.

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.