Corebridge Financial, Inc. (NYSE:CRBG) Receives $37.29 Average Price Target from Analysts

Corebridge Financial, Inc. (NYSE:CRBG - Get Free Report) has earned a consensus recommendation of "Moderate Buy" from the fifteen brokerages that are presently covering the firm, MarketBeat reports. Two analysts have rated the stock with a hold rating and thirteen have issued a buy rating on the company. The average 12-month price target among brokers that have covered the stock in the last year is $37.29.

CRBG has been the topic of several research analyst reports. Morgan Stanley upgraded shares of Corebridge Financial from an "equal weight" rating to an "overweight" rating and raised their target price for the stock from $35.00 to $43.00 in a report on Friday, February 28th. Piper Sandler boosted their price objective on shares of Corebridge Financial from $34.00 to $35.00 and gave the company an "overweight" rating in a research report on Wednesday, December 18th. Wells Fargo & Company increased their target price on Corebridge Financial from $35.00 to $38.00 and gave the stock an "overweight" rating in a report on Wednesday, February 19th. Barclays upgraded Corebridge Financial from an "equal weight" rating to an "overweight" rating and set a $37.00 price target on the stock in a report on Monday, January 6th. Finally, Deutsche Bank Aktiengesellschaft upgraded Corebridge Financial from a "hold" rating to a "buy" rating and increased their price objective for the stock from $33.00 to $40.00 in a report on Friday, January 10th.

Corebridge Financial Trading Up 0.7 %

Shares of CRBG traded up $0.21 during trading hours on Friday, reaching $31.57. The stock had a trading volume of 1,963,977 shares, compared to its average volume of 3,573,988. The company has a market cap of $17.55 billion, a P/E ratio of 8.35, a P/E/G ratio of 0.43 and a beta of 0.92. Corebridge Financial has a 52 week low of $23.97 and a 52 week high of $35.36. 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 firm has a 50-day moving average of $32.73 and a 200 day moving average of $31.29.

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Corebridge Financial (NYSE:CRBG - Get Free Report) last announced its quarterly earnings results 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, sell-side analysts expect that Corebridge Financial will post 5.43 earnings per share for the current fiscal year.

Corebridge Financial Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 17th will be issued a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 3.04%. This is an increase from Corebridge Financial's previous quarterly dividend of $0.23. The ex-dividend date is Monday, March 17th. Corebridge Financial's payout ratio is presently 25.40%.

Institutional Trading of Corebridge Financial

A number of large investors have recently added to or reduced their stakes in CRBG. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Corebridge Financial in the 3rd quarter valued at about $27,000. Fortitude Family Office LLC acquired a new position in Corebridge Financial during the fourth quarter worth approximately $27,000. FNY Investment Advisers LLC bought a new stake in Corebridge Financial in the fourth quarter valued at approximately $27,000. Smartleaf Asset Management LLC lifted its position in shares of Corebridge Financial by 112.4% in the fourth quarter. Smartleaf Asset Management LLC now owns 907 shares of the company's stock valued at $27,000 after buying an additional 480 shares during the last quarter. Finally, Oarsman Capital Inc. bought a new position in shares of Corebridge Financial during the 4th quarter worth approximately $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.