Brokerages Set Corebridge Financial, Inc. (NYSE:CRBG) PT at $37.29

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

Several equities analysts recently weighed in on CRBG shares. Piper Sandler raised 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 price target on shares of Corebridge Financial from $35.00 to $38.00 and gave the stock an "overweight" rating in a research note on Wednesday, February 19th. TD Cowen lifted their price objective on shares of Corebridge Financial from $35.00 to $37.00 and gave the company a "buy" rating in a research note on Wednesday, November 27th. Deutsche Bank Aktiengesellschaft raised shares of Corebridge Financial from a "hold" rating to a "buy" rating and increased their target price for the stock from $33.00 to $40.00 in a research report on Friday, January 10th. Finally, Morgan Stanley raised Corebridge Financial from an "equal weight" rating to an "overweight" rating and boosted their price target for the stock from $35.00 to $43.00 in a research report on Friday, February 28th.

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Insider Transactions at Corebridge Financial

In related news, major shareholder International Group American sold 121,956,256 shares of the stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $31.47, for a total value of $3,837,963,376.32. Following the completion of the sale, the insider now owns 127,282,642 shares in the company, valued at approximately $4,005,584,743.74. This trade represents a 48.93 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.08% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Corebridge Financial

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Nippon Life Insurance Co. acquired a new stake in shares of Corebridge Financial during the 4th quarter worth approximately $3,650,151,000. Norges Bank bought a new position in Corebridge Financial in the fourth quarter worth $283,212,000. Price T Rowe Associates Inc. MD boosted its stake in Corebridge Financial by 31.2% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 32,961,533 shares of the company's stock worth $986,539,000 after buying an additional 7,828,929 shares in the last quarter. Wellington Management Group LLP boosted its stake in Corebridge Financial by 4,624.2% during the fourth quarter. Wellington Management Group LLP now owns 3,707,960 shares of the company's stock worth $110,979,000 after buying an additional 3,629,472 shares in the last quarter. Finally, Pzena Investment Management LLC increased its holdings in Corebridge Financial by 222.9% in the 4th quarter. Pzena Investment Management LLC now owns 4,638,455 shares of the company's stock valued at $138,829,000 after buying an additional 3,202,145 shares during the period. 98.25% of the stock is currently owned by institutional investors.

Corebridge Financial Stock Down 3.3 %

Shares of NYSE CRBG traded down $1.10 during mid-day trading on Monday, reaching $32.13. The company had a trading volume of 2,812,232 shares, compared to its average volume of 3,072,773. The stock has a market capitalization of $17.86 billion, a PE ratio of 8.50, a price-to-earnings-growth ratio of 0.43 and a beta of 0.92. Corebridge Financial has a twelve month low of $23.77 and a twelve month 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 stock's 50 day moving average is $32.29 and its 200-day moving average is $30.79.

Corebridge Financial (NYSE:CRBG - Get Free Report) last issued its earnings results on Wednesday, February 12th. The company reported $1.23 earnings per share 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%. As a group, equities analysts anticipate that Corebridge Financial will post 5.43 earnings per share for the current fiscal year.

Corebridge Financial Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 17th will be issued a dividend of $0.24 per share. The ex-dividend date is Monday, March 17th. This is a positive change from Corebridge Financial's previous quarterly dividend of $0.23. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.99%. 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.