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

Corebridge Financial, Inc. (NYSE:CRBG) has been given an average recommendation of “Moderate Buy” by the eleven research firms that are presently covering the firm, Marketbeat.com reports. Three investment analysts have rated the stock with a hold recommendation and eight have assigned a buy recommendation to the company. The average 1 year price target among brokerages that have covered the stock in the last year is $31.18.

CRBG has been the topic of a number of recent analyst reports. Royal Bank of Canada reiterated an “outperform” rating and set a $33.00 price target on shares of Corebridge Financial in a research report on Friday. Morgan Stanley boosted their price target on shares of Corebridge Financial from $26.00 to $28.00 and gave the stock an “equal weight” rating in a report on Monday, April 15th. Evercore ISI increased their price objective on shares of Corebridge Financial from $30.00 to $32.00 and gave the company an “outperform” rating in a report on Thursday, April 11th. Keefe, Bruyette & Woods boosted their target price on shares of Corebridge Financial from $35.00 to $38.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 10th. Finally, Jefferies Financial Group upped their price target on shares of Corebridge Financial from $35.00 to $40.00 and gave the stock a “buy” rating in a research report on Friday.

Corebridge Financial Stock Up 0.0 %

Shares of CRBG stock opened at $29.12 on Wednesday. Corebridge Financial has a twelve month low of $17.37 and a twelve month high of $34.66. The stock has a market cap of $17.72 billion, a P/E ratio of 7.66, a P/E/G ratio of 0.32 and a beta of 0.99. The stock has a 50 day moving average of $29.21 and a 200 day moving average of $26.34. The company has a current ratio of 0.14, a quick ratio of 0.14 and a debt-to-equity ratio of 0.94.

Corebridge Financial (NYSE:CRBG) last posted its earnings results on Friday, May 3rd. The company reported $1.10 earnings per share for the quarter, beating the consensus estimate of $1.05 by $0.05. Corebridge Financial had a net margin of 11.25% and a return on equity of 23.64%. The firm had revenue of $5.85 billion during the quarter, compared to analyst estimates of $5.50 billion. During the same period in the previous year, the firm earned $0.97 EPS. As a group, sell-side analysts expect that Corebridge Financial will post 4.95 EPS for the current year.

Corebridge Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 14th were given a $0.23 dividend. The ex-dividend date was Friday, June 14th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 3.16%. Corebridge Financial’s dividend payout ratio (DPR) is presently 24.21%.

Insider Activity at Corebridge Financial

In other Corebridge Financial news, major shareholder International Group American sold 30,000,000 shares of the company’s stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $29.20, for a total value of $876,000,000.00. Following the completion of the sale, the insider now directly owns 294,203,636 shares in the company, valued at approximately $8,590,746,171.20. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders own 0.09% of the company’s stock.

Hedge Funds Weigh In On Corebridge Financial

Several institutional investors and hedge funds have recently bought and sold shares of the company. Riverview Trust Co acquired a new position in shares of Corebridge Financial in the 1st quarter worth approximately $25,000. O Shaughnessy Asset Management LLC lifted its stake in Corebridge Financial by 5.9% in the first quarter. O Shaughnessy Asset Management LLC now owns 17,511 shares of the company’s stock worth $503,000 after acquiring an additional 978 shares during the last quarter. Commonwealth Equity Services LLC grew its holdings in Corebridge Financial by 5.6% during the 1st quarter. Commonwealth Equity Services LLC now owns 21,725 shares of the company’s stock worth $624,000 after acquiring an additional 1,149 shares in the last quarter. Mariner LLC increased its position in shares of Corebridge Financial by 4.3% in the 3rd quarter. Mariner LLC now owns 33,647 shares of the company’s stock valued at $665,000 after purchasing an additional 1,388 shares during the last quarter. Finally, Sciencast Management LP raised its holdings in shares of Corebridge Financial by 15.7% in the 1st quarter. Sciencast Management LP now owns 11,170 shares of the company’s stock valued at $321,000 after purchasing an additional 1,515 shares in the last quarter. 98.25% of the stock is currently owned by institutional investors and hedge funds.

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.