Corebridge Financial, Inc. (NYSE:CRBG) Receives $36.50 Average Price Target from Analysts

Shares of Corebridge Financial, Inc. (NYSE:CRBG) have received an average rating of “Moderate Buy” from the fifteen research firms that are currently covering the stock, Marketbeat Ratings reports. Six equities research analysts have rated the stock with a hold recommendation and nine have assigned a buy recommendation to the company. The average twelve-month price target among analysts that have covered the stock in the last year is $36.50.

A number of equities research analysts have commented on CRBG shares. Jefferies Financial Group upped their price target on Corebridge Financial from $43.00 to $45.00 and gave the company a “buy” rating in a research report on Friday, July 10th. Keefe, Bruyette & Woods lifted their price objective on Corebridge Financial from $38.00 to $40.00 and gave the stock an “outperform” rating in a research note on Monday, July 13th. Mizuho upped their target price on Corebridge Financial from $35.00 to $36.00 and gave the company an “outperform” rating in a report on Thursday, July 9th. Weiss Ratings downgraded shares of Corebridge Financial from a “hold (c)” rating to a “hold (c-)” rating in a research report on Tuesday, May 26th. Finally, JPMorgan Chase & Co. lowered their price target on shares of Corebridge Financial from $37.00 to $36.00 and set a “neutral” rating for the company in a report on Tuesday, May 12th.

Insider Buying and Selling at Corebridge Financial

In related news, insider David Ditillo sold 4,250 shares of Corebridge Financial stock in a transaction on Monday, July 6th. The shares were sold at an average price of $30.00, for a total transaction of $127,500.00. Following the completion of the transaction, the insider owned 128,153 shares of the company’s stock, valued at $3,844,590. This trade represents a 3.21% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.29% of the stock is currently owned by company insiders.

Institutional Trading of Corebridge Financial

A number of institutional investors have recently bought and sold shares of the company. Salomon & Ludwin LLC raised its position in shares of Corebridge Financial by 179.7% in the 4th quarter. Salomon & Ludwin LLC now owns 828 shares of the company’s stock worth $26,000 after acquiring an additional 532 shares in the last quarter. Rothschild Investment LLC boosted its position in shares of Corebridge Financial by 133.3% during the 4th quarter. Rothschild Investment LLC now owns 910 shares of the company’s stock valued at $27,000 after purchasing an additional 520 shares in the last quarter. True Wealth Design LLC grew its stake in Corebridge Financial by 50.2% during the fourth quarter. True Wealth Design LLC now owns 1,233 shares of the company’s stock worth $37,000 after purchasing an additional 412 shares during the period. Sonoma Allocations LLC acquired a new stake in Corebridge Financial during the first quarter worth approximately $30,000. Finally, Versant Capital Management Inc increased its holdings in Corebridge Financial by 1,124.2% in the second quarter. Versant Capital Management Inc now owns 1,616 shares of the company’s stock worth $46,000 after purchasing an additional 1,484 shares in the last quarter. Institutional investors own 98.25% of the company’s stock.

Corebridge Financial Price Performance

Shares of NYSE:CRBG opened at $31.28 on Thursday. The firm has a market cap of $13.94 billion, a PE ratio of 56.87, a price-to-earnings-growth ratio of 0.39 and a beta of 1.10. The firm’s fifty day moving average is $28.55 and its 200-day moving average is $27.89. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.12 and a current ratio of 0.12. Corebridge Financial has a 52 week low of $22.19 and a 52 week high of $36.57.

Corebridge Financial (NYSE:CRBG) last posted its quarterly earnings data on Wednesday, May 6th. The company reported $1.05 earnings per share for the quarter, missing analysts’ consensus estimates of $1.07 by ($0.02). The company had revenue of $4.08 billion during the quarter, compared to analyst estimates of $5.06 billion. Corebridge Financial had a net margin of 1.20% and a return on equity of 18.44%. During the same quarter in the previous year, the company earned $1.16 earnings per share. Sell-side analysts predict that Corebridge Financial will post 4.63 earnings per share for the current year.

Corebridge Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 16th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date of this dividend was Tuesday, June 16th. Corebridge Financial’s dividend payout ratio is currently 181.82%.

Corebridge Financial Company Profile

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.