Corebridge Financial, Inc. (NYSE:CRBG) Receives Consensus Rating of “Moderate Buy” from Analysts

Shares of Corebridge Financial, Inc. (NYSE:CRBG) have earned an average rating of “Moderate Buy” from the eleven ratings firms that are presently covering the firm, Marketbeat reports. Three research analysts have rated the stock with a hold recommendation and eight have issued a buy recommendation on the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $29.08.

Several analysts recently commented on the company. Wells Fargo & Company boosted their price target on Corebridge Financial from $30.00 to $33.00 and gave the company an “overweight” rating in a research note on Thursday, April 11th. Piper Sandler boosted their price target on Corebridge Financial from $30.00 to $34.00 and gave the company an “overweight” rating in a research note on Friday, April 5th. Morgan Stanley boosted their price target on Corebridge Financial from $26.00 to $28.00 and gave the company an “equal weight” rating in a research note on Monday. Keefe, Bruyette & Woods boosted their price target on Corebridge Financial from $35.00 to $38.00 and gave the company an “outperform” rating in a research note on Wednesday, April 10th. Finally, The Goldman Sachs Group boosted their price target on Corebridge Financial from $27.00 to $31.00 and gave the company a “buy” rating in a research note on Tuesday, January 9th.

Corebridge Financial Price Performance

Shares of NYSE:CRBG opened at $26.54 on Friday. Corebridge Financial has a 1-year low of $14.91 and a 1-year high of $29.40. The firm has a market capitalization of $16.52 billion, a PE ratio of 15.70, a PEG ratio of 0.32 and a beta of 0.86. The business’s 50 day moving average is $26.08 and its 200-day moving average is $23.15. The company has a current ratio of 0.14, a quick ratio of 0.14 and a debt-to-equity ratio of 0.92.

Corebridge Financial (NYSE:CRBG) last announced its quarterly earnings data on Thursday, February 15th. The company reported $1.04 earnings per share for the quarter, topping the consensus estimate of $0.99 by $0.05. Corebridge Financial had a return on equity of 23.11% and a net margin of 5.92%. The company had revenue of $5.92 billion for the quarter, compared to analyst estimates of $5.65 billion. During the same quarter last year, the firm earned $0.88 EPS. Corebridge Financial’s revenue for the quarter was up 11.3% compared to the same quarter last year. Sell-side analysts predict that Corebridge Financial will post 4.84 earnings per share for the current year.

Corebridge Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were paid a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 3.47%. The ex-dividend date of this dividend was Thursday, March 14th. Corebridge Financial’s dividend payout ratio is currently 54.44%.

Hedge Funds Weigh In On Corebridge Financial

A number of institutional investors and hedge funds have recently bought and sold shares of CRBG. Factory Mutual Insurance Co. raised its position in shares of Corebridge Financial by 47.1% during the fourth quarter. Factory Mutual Insurance Co. now owns 1,028,200 shares of the company’s stock worth $22,271,000 after acquiring an additional 329,200 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Corebridge Financial by 10.1% during the third quarter. Vanguard Group Inc. now owns 17,064,429 shares of the company’s stock worth $337,022,000 after acquiring an additional 1,566,275 shares during the last quarter. Artemis Investment Management LLP bought a new stake in shares of Corebridge Financial during the fourth quarter worth $18,378,000. Charles Schwab Investment Management Inc. raised its position in shares of Corebridge Financial by 90.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,382,574 shares of the company’s stock worth $27,306,000 after acquiring an additional 656,440 shares during the last quarter. Finally, TD Asset Management Inc raised its position in shares of Corebridge Financial by 15.0% during the third quarter. TD Asset Management Inc now owns 5,252,950 shares of the company’s stock worth $103,746,000 after acquiring an additional 686,727 shares during the last quarter. 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.