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

Corebridge Financial, Inc. (NYSE:CRBG) has been given an average recommendation of “Moderate Buy” by the fifteen analysts that are covering the firm, Marketbeat reports. Two equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $37.29.

A number of research firms have weighed in on CRBG. Barclays upgraded 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. BMO Capital Markets began coverage on Corebridge Financial in a report on Thursday, January 23rd. They set an “outperform” rating and a $43.00 target price for the company. Deutsche Bank Aktiengesellschaft upgraded Corebridge Financial from a “hold” rating to a “buy” rating and increased their price objective for the company from $33.00 to $40.00 in a report on Friday, January 10th. Wells Fargo & Company 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, February 19th. Finally, DOWLING & PARTN lowered Corebridge Financial from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 26th.

Corebridge Financial Stock Down 0.1 %

Corebridge Financial stock opened at $32.05 on Monday. The business has a fifty day moving average of $32.33 and a two-hundred day moving average of $30.86. The company has a quick ratio of 0.13, a current ratio of 0.13 and a debt-to-equity ratio of 0.16. The firm has a market cap of $17.82 billion, a P/E ratio of 8.48, a P/E/G ratio of 0.43 and a beta of 0.92. Corebridge Financial has a twelve month low of $23.97 and a twelve month high of $35.36.

Corebridge Financial (NYSE:CRBG) last posted its earnings results on Wednesday, February 12th. The company reported $1.23 earnings per share 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%. On average, analysts forecast that Corebridge Financial will post 5.43 earnings per share for the current fiscal year.

Corebridge Financial Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 17th will be given a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 3.00%. This is an increase from Corebridge Financial’s previous quarterly dividend of $0.23. The ex-dividend date of this dividend is Monday, March 17th. Corebridge Financial’s dividend payout ratio is presently 25.40%.

Hedge Funds Weigh In On Corebridge Financial

Several hedge funds have recently made changes to their positions in the company. Wealth Enhancement Advisory Services LLC acquired a new stake in Corebridge Financial during the 3rd quarter worth about $2,367,000. Nisa Investment Advisors LLC grew its position in Corebridge Financial by 9,241.6% during the 3rd quarter. Nisa Investment Advisors LLC now owns 65,391 shares of the company’s stock worth $1,907,000 after purchasing an additional 64,691 shares during the period. HM Payson & Co. acquired a new stake in Corebridge Financial during the 3rd quarter worth about $29,000. Janney Montgomery Scott LLC grew its position in Corebridge Financial by 21.5% during the 3rd quarter. Janney Montgomery Scott LLC now owns 37,187 shares of the company’s stock worth $1,084,000 after purchasing an additional 6,571 shares during the period. Finally, Cannon Global Investment Management LLC acquired a new stake in Corebridge Financial during the 3rd quarter worth about $875,000. 98.25% of the stock is 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.