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

Shares of Corebridge Financial, Inc. (NYSE:CRBG) have been given an average recommendation of “Moderate Buy” by the fifteen analysts that are presently covering the firm, 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 12 month price objective among analysts that have covered the stock in the last year is $37.1667.

Several equities analysts have issued reports on CRBG shares. Wells Fargo & Company upped their price target on shares of Corebridge Financial from $35.00 to $36.00 and gave the company an “overweight” rating in a research report on Thursday, July 9th. Jefferies Financial Group lifted their price target on shares of Corebridge Financial from $43.00 to $45.00 and gave the stock a “buy” rating in a report on Friday, July 10th. Mizuho boosted their price objective on shares of Corebridge Financial from $35.00 to $36.00 and gave the stock an “outperform” rating in a research note on Thursday, July 9th. Barclays increased their price objective on Corebridge Financial from $30.00 to $33.00 and gave the company an “overweight” rating in a report on Tuesday, July 7th. Finally, Piper Sandler raised their target price on Corebridge Financial from $36.00 to $38.00 and gave the stock an “overweight” rating in a research report on Wednesday.

Insider Buying and Selling at Corebridge Financial

In other news, insider David Ditillo sold 12,414 shares of the firm’s stock in a transaction dated Thursday, August 6th. The stock was sold at an average price of $34.00, for a total transaction of $422,076.00. Following the completion of the transaction, the insider directly owned 111,153 shares in the company, valued at $3,779,202. This trade represents a 10.05% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.32% of the company’s stock.

Institutional Trading of Corebridge Financial

Several institutional investors have recently added to or reduced their stakes in the stock. Salomon & Ludwin LLC raised 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 purchasing an additional 532 shares during the last quarter. Rothschild Investment LLC lifted its position in shares of Corebridge Financial by 133.3% in the 4th quarter. Rothschild Investment LLC now owns 910 shares of the company’s stock worth $27,000 after purchasing an additional 520 shares during the period. Bell Investment Advisors Inc bought a new stake in shares of Corebridge Financial in the 2nd quarter valued at $27,000. Sonoma Allocations LLC bought a new stake in shares of Corebridge Financial in the 1st quarter valued at $30,000. Finally, Allworth Financial LP acquired a new stake in shares of Corebridge Financial during the second quarter worth $41,000. 98.25% of the stock is currently owned by institutional investors.

Corebridge Financial Price Performance

CRBG stock opened at $34.48 on Monday. The company has a 50 day simple moving average of $30.66 and a 200 day simple moving average of $28.20. Corebridge Financial has a 1 year low of $22.19 and a 1 year high of $35.22. The stock has a market cap of $15.37 billion, a price-to-earnings ratio of 20.16, a P/E/G ratio of 0.44 and a beta of 1.08. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.12 and a quick ratio of 0.12.

Corebridge Financial (NYSE:CRBG) last released its quarterly earnings data on Tuesday, August 4th. The company reported $1.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.08 by $0.04. The company had revenue of $4.30 billion during the quarter, compared to the consensus estimate of $4.66 billion. Corebridge Financial had a return on equity of 17.37% and a net margin of 4.37%.During the same quarter in the prior year, the firm posted $1.36 earnings per share. Research analysts anticipate that Corebridge Financial will post 4.58 EPS for the current fiscal year.

Corebridge Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Wednesday, September 16th will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date is Wednesday, September 16th. Corebridge Financial’s payout ratio is 58.48%.

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.