Analysts Set Corebridge Financial, Inc. (NYSE:CRBG) PT at $37.29

Shares of Corebridge Financial, Inc. (NYSE:CRBG) have earned an average rating of “Moderate Buy” from the fifteen ratings firms that are covering the company, MarketBeat reports. Two equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $37.29.

A number of equities analysts recently issued reports on the company. Barclays upgraded Corebridge Financial from an “equal weight” rating to an “overweight” rating and set a $37.00 price objective for the company in a report on Monday, January 6th. Morgan Stanley raised shares of Corebridge Financial from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $35.00 to $43.00 in a research note on Friday, February 28th. BMO Capital Markets began coverage on shares of Corebridge Financial in a research note on Thursday, January 23rd. They issued an “outperform” rating and a $43.00 price target on the stock. Deutsche Bank Aktiengesellschaft raised shares of Corebridge Financial from a “hold” rating to a “buy” rating and boosted their price objective for the company from $33.00 to $40.00 in a research report on Friday, January 10th. Finally, Wells Fargo & Company raised their target price on shares of Corebridge Financial from $35.00 to $38.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 19th.

Corebridge Financial Price Performance

Corebridge Financial stock opened at $31.55 on Friday. Corebridge Financial has a 12-month low of $23.97 and a 12-month high of $35.36. The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 0.16. The firm has a 50-day moving average price of $32.72 and a 200-day moving average price of $31.32. The firm has a market capitalization of $17.54 billion, a PE ratio of 8.35, a price-to-earnings-growth ratio of 0.43 and a beta of 0.92.

Corebridge Financial (NYSE:CRBG) last announced its quarterly earnings data on Wednesday, February 12th. The company reported $1.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.27 by ($0.04). Corebridge Financial had a return on equity of 22.69% and a net margin of 11.39%. As a group, equities research analysts forecast that Corebridge Financial will post 5.43 EPS for the current year.

Corebridge Financial Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 17th were given a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 3.04%. This is a positive change from Corebridge Financial’s previous quarterly dividend of $0.23. The ex-dividend date of this dividend was Monday, March 17th. Corebridge Financial’s payout ratio is presently 25.40%.

Institutional Investors Weigh In On Corebridge Financial

Institutional investors have recently added to or reduced their stakes in the stock. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Corebridge Financial during the third quarter valued at about $27,000. Fortitude Family Office LLC bought a new position in shares of Corebridge Financial during the 4th quarter worth approximately $27,000. FNY Investment Advisers LLC purchased a new stake in Corebridge Financial during the fourth quarter valued at approximately $27,000. Smartleaf Asset Management LLC boosted its stake in Corebridge Financial by 112.4% in the fourth quarter. Smartleaf Asset Management LLC now owns 907 shares of the company’s stock valued at $27,000 after acquiring an additional 480 shares in the last quarter. Finally, Oarsman Capital Inc. purchased a new position in Corebridge Financial in the fourth quarter worth $30,000. Institutional investors own 98.25% of the company’s stock.

Corebridge Financial Company Profile

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.