Corebridge Financial (NYSE:CRBG) Given New $37.00 Price Target at Keefe, Bruyette & Woods

Corebridge Financial (NYSE:CRBG - Free Report) had its price objective decreased by Keefe, Bruyette & Woods from $40.00 to $37.00 in a research note released on Wednesday,Benzinga reports. Keefe, Bruyette & Woods currently has an outperform rating on the stock.

Other analysts have also recently issued reports about the company. BMO Capital Markets began coverage on Corebridge Financial in a research note on Thursday, January 23rd. They set an "outperform" rating and a $43.00 target price for the company. Barclays upgraded Corebridge Financial from an "equal weight" rating to an "overweight" rating and set a $37.00 price target for the company in a research note on Monday, January 6th. Wells Fargo & Company upped their target price on shares of Corebridge Financial from $35.00 to $38.00 and gave the company an "overweight" rating in a report on Wednesday, February 19th. UBS Group cut Corebridge Financial from a "buy" rating to a "sell" rating and reduced their price target for the stock from $40.00 to $28.00 in a report on Wednesday, April 2nd. Finally, Deutsche Bank Aktiengesellschaft upgraded Corebridge Financial from a "hold" rating to a "buy" rating and upped their price objective for the company from $33.00 to $40.00 in a research note on Friday, January 10th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and eleven have given a buy rating to the company's stock. According to data from MarketBeat, Corebridge Financial has a consensus rating of "Moderate Buy" and an average price target of $36.15.

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Corebridge Financial Trading Up 1.9 %

NYSE:CRBG traded up $0.51 on Wednesday, hitting $27.20. 1,906,072 shares of the stock were exchanged, compared to its average volume of 3,571,482. The company's 50-day moving average price is $31.56 and its 200 day moving average price is $31.25. Corebridge Financial has a 52 week low of $23.69 and a 52 week high of $35.36. The stock has a market capitalization of $15.12 billion, a price-to-earnings ratio of 7.20, a P/E/G ratio of 0.43 and a beta of 0.98. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.13 and a current ratio of 0.13.

Corebridge Financial (NYSE:CRBG - Get Free Report) last issued 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%. On average, equities research analysts forecast that Corebridge Financial will post 5.43 earnings per share for the current year.

Corebridge Financial Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 17th were paid a $0.24 dividend. The ex-dividend date of this dividend was Monday, March 17th. This is an increase from Corebridge Financial's previous quarterly dividend of $0.23. This represents a $0.96 annualized dividend and a dividend yield of 3.53%. Corebridge Financial's dividend payout ratio is 25.40%.

Institutional Trading of Corebridge Financial

Several hedge funds and other institutional investors have recently bought and sold shares of the business. The Manufacturers Life Insurance Company increased its holdings in shares of Corebridge Financial by 3.4% during the third quarter. The Manufacturers Life Insurance Company now owns 22,211 shares of the company's stock worth $648,000 after purchasing an additional 732 shares during the period. State Street Corp grew its position in Corebridge Financial by 11.7% during the third quarter. State Street Corp now owns 8,035,438 shares of the company's stock worth $234,313,000 after buying an additional 843,559 shares in the last quarter. Wellington Management Group LLP increased its stake in Corebridge Financial by 13.3% during the 3rd quarter. Wellington Management Group LLP now owns 78,488 shares of the company's stock worth $2,289,000 after acquiring an additional 9,229 shares during the period. EP Wealth Advisors LLC acquired a new position in Corebridge Financial in the 3rd quarter valued at $493,000. Finally, iA Global Asset Management Inc. lifted its position in shares of Corebridge Financial by 62.2% during the 3rd quarter. iA Global Asset Management Inc. now owns 10,593 shares of the company's stock valued at $309,000 after acquiring an additional 4,061 shares during the period. 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.