Corebridge Financial, Inc. (NYSE:CRBG) Receives $35.17 Average Price Target from Brokerages

Corebridge Financial, Inc. (NYSE:CRBG) has been given a consensus recommendation of “Moderate Buy” by the fifteen brokerages that are covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, five have issued a hold recommendation and nine have issued a buy recommendation on the company. The average 12-month price target among brokerages that have covered the stock in the last year is $35.1667.

Several equities research analysts have recently weighed in on the company. TD Cowen decreased their target price on Corebridge Financial from $38.00 to $35.00 and set a “buy” rating for the company in a research report on Tuesday, March 10th. Weiss Ratings downgraded Corebridge Financial from a “hold (c)” rating to a “hold (c-)” rating in a research report on Tuesday. Mizuho upped their target price on Corebridge Financial from $31.00 to $35.00 and gave the stock an “outperform” rating in a research report on Thursday, May 7th. UBS Group decreased their target price on Corebridge Financial from $33.00 to $29.00 and set a “neutral” rating for the company in a research report on Tuesday, April 28th. Finally, Bank of America reduced their price target on Corebridge Financial from $42.00 to $40.00 and set a “buy” rating for the company in a report on Tuesday, April 14th.

Corebridge Financial Stock Performance

NYSE CRBG opened at $26.97 on Wednesday. The business’s 50-day moving average price is $25.91 and its 200 day moving average price is $28.14. Corebridge Financial has a twelve month low of $22.19 and a twelve month high of $36.57. The company has a market capitalization of $12.32 billion, a PE ratio of 49.03, a price-to-earnings-growth ratio of 0.29 and a beta of 1.18. The company has a current ratio of 0.12, a quick ratio of 0.12 and a debt-to-equity ratio of 0.99.

Corebridge Financial (NYSE:CRBG) last announced its quarterly earnings results on Wednesday, May 6th. The company reported $1.05 EPS for the quarter, missing the consensus estimate of $1.07 by ($0.02). The firm had revenue of $4.09 billion for the quarter, compared to analyst estimates of $5.06 billion. Corebridge Financial had a return on equity of 18.44% and a net margin of 1.20%.During the same quarter in the prior year, the company earned $1.16 earnings per share. On average, research analysts predict that Corebridge Financial will post 4.89 earnings per share for the current year.

Corebridge Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Tuesday, June 16th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Tuesday, June 16th. This represents a $1.00 dividend on an annualized basis and a yield of 3.7%. Corebridge Financial’s dividend payout ratio is currently 181.82%.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of CRBG. Community Bank N.A. bought a new position in Corebridge Financial during the 3rd quarter worth approximately $26,000. Salomon & Ludwin LLC lifted its holdings in Corebridge Financial by 179.7% during the 4th quarter. Salomon & Ludwin LLC now owns 828 shares of the company’s stock worth $26,000 after buying an additional 532 shares during the last quarter. Smartleaf Asset Management LLC lifted its holdings in Corebridge Financial by 83.6% during the 3rd quarter. Smartleaf Asset Management LLC now owns 828 shares of the company’s stock worth $27,000 after buying an additional 377 shares during the last quarter. Rothschild Investment LLC lifted its holdings in Corebridge Financial by 133.3% during the 4th quarter. Rothschild Investment LLC now owns 910 shares of the company’s stock worth $27,000 after buying an additional 520 shares during the last quarter. Finally, Sonoma Allocations LLC bought a new position in Corebridge Financial during the 1st quarter worth approximately $30,000. Institutional investors own 98.25% of the company’s stock.

About Corebridge Financial

Corebridge Financial (NYSE: CRBG) is a publicly traded provider of retirement, life insurance and asset management solutions. Formed from the separation of American International Group’s life and retirement operations, Corebridge focuses on helping individuals, employers and institutions manage retirement income, protect against longevity and mortality risks, and invest long-term savings. The company operates under a unified brand that brings together insurance products and investment capabilities to deliver integrated financial solutions.

Corebridge’s product suite includes retirement income and annuity products, individual and group life insurance, asset management and investment advisory services, and employer-sponsored retirement plan offerings.