Brokerages Set Corebridge Financial, Inc. (NYSE:CRBG) Target Price at $37.29

Shares of Corebridge Financial, Inc. (NYSE:CRBG) have received an average rating of “Moderate Buy” from the fifteen brokerages that are presently covering the firm, Marketbeat Ratings reports. Two research analysts have rated the stock with a hold recommendation and thirteen have given a buy recommendation to the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $37.29.

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Point72 Asia Singapore Pte. Ltd. bought a new stake in Corebridge Financial in the third quarter worth $27,000. Fortitude Family Office LLC bought a new stake in shares of Corebridge Financial in the 4th quarter worth about $27,000. FNY Investment Advisers LLC purchased a new stake in shares of Corebridge Financial during the 4th quarter valued at about $27,000. Smartleaf Asset Management LLC lifted its holdings in shares of Corebridge Financial by 112.4% in the 4th quarter. Smartleaf Asset Management LLC now owns 907 shares of the company’s stock valued at $27,000 after acquiring an additional 480 shares during the last quarter. Finally, Oarsman Capital Inc. purchased a new position in Corebridge Financial in the fourth quarter worth about $30,000. 98.25% of the stock is currently owned by institutional investors.

Corebridge Financial Stock Down 0.1 %

Corebridge Financial stock opened at $31.55 on Friday. The stock has a market cap 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. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.13 and a current ratio of 0.13. The stock has a fifty day moving average of $32.72 and a 200 day moving average of $31.32. Corebridge Financial has a one year low of $23.97 and a one year high of $35.36.

Corebridge Financial (NYSE:CRBG) last posted its quarterly earnings data on Wednesday, February 12th. The company reported $1.23 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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, sell-side analysts predict that Corebridge Financial will post 5.43 EPS for the current year.

Corebridge Financial Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 17th were issued a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 3.04%. The ex-dividend date was Monday, March 17th. This is a boost from Corebridge Financial’s previous quarterly dividend of $0.23. Corebridge Financial’s dividend payout ratio (DPR) is currently 25.40%.

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.