Corebridge Financial (NYSE:CRBG) Given New $32.00 Price Target at Evercore ISI

Corebridge Financial (NYSE:CRBG) had its price target lifted by Evercore ISI from $30.00 to $32.00 in a report published on Thursday, Benzinga reports. Evercore ISI currently has an outperform rating on the stock.

CRBG has been the subject of several other reports. Royal Bank of Canada lifted their target price on Corebridge Financial from $25.00 to $28.00 and gave the stock an outperform rating in a research report on Friday, February 16th. UBS Group lifted their target price on Corebridge Financial from $22.00 to $28.00 and gave the stock a buy rating in a research report on Wednesday, January 10th. Piper Sandler lifted their target price on Corebridge Financial from $30.00 to $34.00 and gave the stock an overweight rating in a research report on Friday, April 5th. Wells Fargo & Company lifted their target price on Corebridge Financial from $30.00 to $33.00 and gave the stock an overweight rating in a research report on Thursday. Finally, Keefe, Bruyette & Woods lifted their target price on Corebridge Financial from $35.00 to $38.00 and gave the stock an outperform rating in a research report on Wednesday. Three equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of Moderate Buy and an average price target of $28.83.

Corebridge Financial Stock Down 1.9 %

Shares of CRBG opened at $26.78 on Thursday. The company has a market cap of $16.67 billion, a PE ratio of 15.85, a P/E/G ratio of 0.32 and a beta of 0.86. The business has a fifty day moving average of $25.82 and a 200 day moving average of $22.98. Corebridge Financial has a 52-week low of $14.91 and a 52-week high of $29.40. The company has a quick ratio of 0.14, a current ratio of 0.14 and a debt-to-equity ratio of 0.92.

Corebridge Financial (NYSE:CRBG) last issued its quarterly earnings results on Thursday, February 15th. The company reported $1.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.99 by $0.05. The company had revenue of $5.92 billion during the quarter, compared to the consensus estimate of $5.65 billion. Corebridge Financial had a return on equity of 23.11% and a net margin of 5.92%. Corebridge Financial’s revenue was up 11.3% on a year-over-year basis. During the same period last year, the company earned $0.88 earnings per share. On average, sell-side analysts expect that Corebridge Financial will post 4.86 EPS for the current year.

Corebridge Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were paid a dividend of $0.23 per share. The ex-dividend date was Thursday, March 14th. This represents a $0.92 annualized dividend and a dividend yield of 3.44%. Corebridge Financial’s dividend payout ratio is currently 54.44%.

Hedge Funds Weigh In On Corebridge Financial

Several institutional investors and hedge funds have recently added to or reduced their stakes in CRBG. UBS Group AG purchased a new position in Corebridge Financial in the third quarter valued at about $186,000. Cubist Systematic Strategies LLC purchased a new position in Corebridge Financial in the third quarter valued at about $85,000. Vanguard Group Inc. purchased a new position in Corebridge Financial in the third quarter valued at about $95,736,000. Two Sigma Investments LP purchased a new position in Corebridge Financial in the third quarter valued at about $473,000. Finally, Advisor Group Holdings Inc. purchased a new position in Corebridge Financial in the fourth quarter valued at about $35,000. Hedge funds and other 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.