Jefferies Financial Group Equities Analysts Lift Earnings Estimates for Corebridge Financial, Inc. (NYSE:CRBG)

Corebridge Financial, Inc. (NYSE:CRBGGet Rating) – Research analysts at Jefferies Financial Group boosted their Q4 2023 earnings estimates for shares of Corebridge Financial in a research report issued on Monday, November 21st. Jefferies Financial Group analyst S. Kamath now anticipates that the company will earn $1.04 per share for the quarter, up from their previous forecast of $1.02. Jefferies Financial Group has a “Buy” rating and a $25.00 price objective on the stock. The consensus estimate for Corebridge Financial’s current full-year earnings is $2.74 per share.

Corebridge Financial (NYSE:CRBGGet Rating) last announced its earnings results on Wednesday, November 9th. The company reported $0.57 EPS for the quarter, topping the consensus estimate of $0.52 by $0.05. The business had revenue of $4.31 billion for the quarter, compared to the consensus estimate of $4.03 billion.

Other analysts have also issued research reports about the stock. Evercore ISI began coverage on shares of Corebridge Financial in a research report on Monday, October 10th. They set an “outperform” rating and a $24.00 price target on the stock. Wells Fargo & Company increased their price target on shares of Corebridge Financial from $23.00 to $25.00 and gave the stock an “overweight” rating in a research report on Thursday, November 10th. Bank of America began coverage on shares of Corebridge Financial in a research report on Monday, October 10th. They set a “buy” rating and a $24.00 price target on the stock. Morgan Stanley increased their price target on shares of Corebridge Financial from $25.00 to $26.00 and gave the stock an “equal weight” rating in a research report on Thursday, November 17th. Finally, Royal Bank of Canada raised their target price on shares of Corebridge Financial from $25.00 to $26.00 and gave the company an “outperform” rating in a research report on Thursday, November 10th. Four investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, Corebridge Financial has a consensus rating of “Moderate Buy” and a consensus price target of $24.91.

Corebridge Financial Trading Up 1.2 %

Shares of CRBG opened at $22.41 on Thursday. Corebridge Financial has a 12 month low of $19.14 and a 12 month high of $23.50. The stock’s 50 day simple moving average is $21.28.

Institutional Investors Weigh In On Corebridge Financial

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Cubist Systematic Strategies LLC bought a new stake in shares of Corebridge Financial during the third quarter worth about $85,000. UBS Group AG bought a new stake in shares of Corebridge Financial during the third quarter worth about $186,000. Barclays PLC bought a new stake in shares of Corebridge Financial during the third quarter worth about $291,000. Salzhauer Michael bought a new stake in shares of Corebridge Financial during the third quarter worth about $295,000. Finally, Two Sigma Investments LP purchased a new position in Corebridge Financial during the third quarter worth about $473,000.

Insider Transactions at Corebridge Financial

In other news, Director Alan B. Colberg bought 30,000 shares of the stock in a transaction that occurred on Thursday, November 10th. The stock was acquired at an average price of $22.92 per share, with a total value of $687,600.00. Following the completion of the purchase, the director now directly owns 37,858 shares of the company’s stock, valued at $867,705.36. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Corebridge Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 30th. Stockholders of record on Friday, December 16th will be issued a dividend of $0.23 per share. The ex-dividend date of this dividend is Thursday, December 15th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 4.11%.

About Corebridge Financial

(Get Rating)

Corebridge Financial, Inc provides retirement solutions and insurance products in the United States. It 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.

Further Reading

Earnings History and Estimates for Corebridge Financial (NYSE:CRBG)

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