Corebridge Financial (NYSE:CRBG – Free Report) had its price objective hoisted by Wells Fargo & Company from $30.00 to $33.00 in a report issued on Thursday, Benzinga reports. They currently have an overweight rating on the stock.
A number of other brokerages have also recently issued reports on CRBG. The Goldman Sachs Group upped their price objective on shares of Corebridge Financial from $27.00 to $31.00 and gave the stock a buy rating in a report on Tuesday, January 9th. UBS Group upped their price objective on shares of Corebridge Financial from $22.00 to $28.00 and gave the stock a buy rating in a report on Wednesday, January 10th. Piper Sandler upped their price objective on shares of Corebridge Financial from $30.00 to $34.00 and gave the stock an overweight rating in a report on Friday, April 5th. Keefe, Bruyette & Woods upped their price objective on shares of Corebridge Financial from $35.00 to $38.00 and gave the stock an outperform rating in a report on Wednesday. Finally, Royal Bank of Canada upped their price objective on shares of Corebridge Financial from $25.00 to $28.00 and gave the stock an outperform rating in a report on Friday, February 16th. Three analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and an average target price of $28.83.
Get Our Latest Report on Corebridge Financial
Corebridge Financial Trading Down 1.9 %
Corebridge Financial (NYSE:CRBG – Get Free Report) last posted its quarterly earnings results on Thursday, February 15th. The company reported $1.04 EPS for the quarter, beating the consensus estimate of $0.99 by $0.05. Corebridge Financial had a net margin of 5.92% and a return on equity of 23.11%. The business had revenue of $5.92 billion for the quarter, compared to analysts’ expectations of $5.65 billion. During the same period in the previous year, the company posted $0.88 EPS. Corebridge Financial’s revenue was up 11.3% on a year-over-year basis. As a group, sell-side analysts forecast that Corebridge Financial will post 4.86 EPS for the current fiscal year.
Corebridge Financial Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were given a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 3.44%. The ex-dividend date was Thursday, March 14th. Corebridge Financial’s dividend payout ratio is 54.44%.
Institutional Inflows and Outflows
A number of large investors have recently made changes to their positions in CRBG. Riverview Trust Co acquired a new position in shares of Corebridge Financial during the first quarter valued at about $25,000. EverSource Wealth Advisors LLC acquired a new position in shares of Corebridge Financial during the third quarter valued at about $28,000. Nomura Asset Management Co. Ltd. acquired a new position in shares of Corebridge Financial during the first quarter valued at about $30,000. MetLife Investment Management LLC acquired a new position in shares of Corebridge Financial during the fourth quarter valued at about $33,000. Finally, Advisor Group Holdings Inc. acquired a new position in shares of Corebridge Financial during the fourth quarter valued at about $35,000. Institutional investors and hedge funds 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.
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