Corebridge Financial (NYSE:CRBG) Price Target Raised to $44.00

by · The Markets Daily

Corebridge Financial (NYSE:CRBG – Free Report) had its price target hoisted by BMO Capital Markets from $43.00 to $44.00 in a research report sent to investors on Friday,Benzinga reports. The brokerage currently has an outperform rating on the stock.

Other equities analysts have also issued reports about the company. Morgan Stanley increased their price objective on Corebridge Financial from $37.00 to $40.00 and gave the company an “overweight” rating in a report on Friday. UBS Group lowered Corebridge Financial from a “buy” rating to a “sell” rating and reduced their price objective for the company from $40.00 to $28.00 in a report on Wednesday, April 2nd. Wall Street Zen raised Corebridge Financial from a “sell” rating to a “hold” rating in a report on Friday, June 6th. Wells Fargo & Company increased their price objective on Corebridge Financial from $35.00 to $37.00 and gave the company an “overweight” rating in a report on Wednesday, May 7th. Finally, Piper Sandler increased their price objective on Corebridge Financial from $35.00 to $38.00 and gave the company an “overweight” rating in a report on Wednesday, April 2nd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $37.67.

View Our Latest Stock Report on CRBG

Corebridge Financial Stock Performance

CRBG stock opened at $35.92 on Friday. The firm has a market cap of $19.75 billion, a PE ratio of 30.44, a P/E/G ratio of 0.58 and a beta of 1.04. The company has a quick ratio of 0.14, a current ratio of 0.14 and a debt-to-equity ratio of 0.96. The business has a 50 day moving average of $31.91 and a 200-day moving average of $31.44. Corebridge Financial has a 12-month low of $23.69 and a 12-month high of $36.03.

Corebridge Financial (NYSE:CRBG – Get Free Report) last released its earnings results on Monday, May 5th. The company reported $1.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.15 by $0.01. The company had revenue of $4.74 billion during the quarter, compared to analyst estimates of $5.28 billion. Corebridge Financial had a return on equity of 22.19% and a net margin of 3.73%. During the same period in the prior year, the company posted $1.10 earnings per share. As a group, sell-side analysts expect that Corebridge Financial will post 5.43 earnings per share for the current year.

Corebridge Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 16th will be given a dividend of $0.24 per share. The ex-dividend date of this dividend is Monday, June 16th. This represents a $0.96 annualized dividend and a dividend yield of 2.67%. Corebridge Financial’s dividend payout ratio is currently 81.36%.

Institutional Investors Weigh In On Corebridge Financial

Institutional investors and hedge funds have recently made changes to their positions in the business. Smartleaf Asset Management LLC raised its position in shares of Corebridge Financial by 112.4% in the fourth quarter. Smartleaf Asset Management LLC now owns 907 shares of the company’s stock worth $27,000 after buying an additional 480 shares in the last quarter. Oarsman Capital Inc. purchased a new stake in shares of Corebridge Financial in the fourth quarter worth $30,000. Sunbelt Securities Inc. purchased a new stake in shares of Corebridge Financial in the fourth quarter worth $30,000. Whittier Trust Co. of Nevada Inc. raised its position in shares of Corebridge Financial by 58.4% in the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 1,147 shares of the company’s stock worth $34,000 after buying an additional 423 shares in the last quarter. Finally, Brooklyn Investment Group raised its position in shares of Corebridge Financial by 66.7% in the first quarter. Brooklyn Investment Group now owns 1,452 shares of the company’s stock worth $46,000 after buying an additional 581 shares in the last quarter. Hedge funds and other institutional investors own 98.25% of the company’s stock.

Corebridge Financial Company Profile

(Get Free Report)

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.

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