Corebridge Financial (NYSE:CRBG) Sets New 52-Week Low - Should You Sell?

Corebridge Financial, Inc. (NYSE:CRBG - Get Free Report) shares hit a new 52-week low on Monday . The stock traded as low as $23.69 and last traded at $24.15, with a volume of 150903 shares traded. The stock had previously closed at $25.71.

Wall Street Analyst Weigh In

CRBG has been the subject of several analyst reports. Barclays lowered 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. UBS Group lowered shares of Corebridge Financial from a "buy" rating to a "sell" rating and dropped their price objective for the stock from $40.00 to $28.00 in a research note on Wednesday, April 2nd. Wells Fargo & Company cut their price objective on shares of Corebridge Financial from $38.00 to $35.00 and set an "overweight" rating on the stock in a research report on Thursday. Keefe, Bruyette & Woods lowered their target price on shares of Corebridge Financial from $40.00 to $37.00 and set an "outperform" rating for the company in a report on Wednesday. Finally, BMO Capital Markets assumed coverage on shares of Corebridge Financial in a report on Thursday, January 23rd. They set an "outperform" rating and a $43.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $36.15.

Corebridge Financial Stock Up 0.2 %

The company has a debt-to-equity ratio of 0.16, a current ratio of 0.13 and a quick ratio of 0.13. The business's fifty day moving average price is $31.56 and its two-hundred day moving average price is $31.24. The stock has a market capitalization of $14.85 billion, a PE ratio of 7.07, a price-to-earnings-growth ratio of 0.43 and a beta of 0.98.

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

Corebridge Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 17th were issued a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 3.59%. This is an increase from Corebridge Financial's previous quarterly dividend of $0.23. The ex-dividend date of this dividend was Monday, March 17th. Corebridge Financial's dividend payout ratio (DPR) is presently 25.40%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. The Manufacturers Life Insurance Company increased its stake in shares of Corebridge Financial by 3.4% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 22,211 shares of the company's stock worth $648,000 after acquiring an additional 732 shares during the last quarter. Wellington Management Group LLP grew its stake in shares of Corebridge Financial by 13.3% in the third 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 in the last quarter. National Bank of Canada FI raised its position in Corebridge Financial by 1,409.4% in the 3rd quarter. National Bank of Canada FI now owns 14,098 shares of the company's stock valued at $411,000 after purchasing an additional 13,164 shares in the last quarter. XTX Topco Ltd raised its holdings in shares of Corebridge Financial by 27.2% in the 3rd quarter. XTX Topco Ltd now owns 10,505 shares of the company's stock valued at $306,000 after purchasing an additional 2,246 shares in the last quarter. Finally, MML Investors Services LLC boosted its position in shares of Corebridge Financial by 6.5% during the 3rd quarter. MML Investors Services LLC now owns 17,170 shares of the company's stock worth $501,000 after acquiring an additional 1,055 shares in the last quarter. Hedge funds and other institutional investors 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.