Corebridge Financial (NYSE:CRBG) Price Target Increased to $28.00 by Analysts at Morgan Stanley

Corebridge Financial (NYSE:CRBG) had its price objective lifted by Morgan Stanley from $26.00 to $28.00 in a research report sent to investors on Monday, Benzinga reports. They currently have an equal weight rating on the stock.

A number of other research analysts also recently issued reports on CRBG. Keefe, Bruyette & Woods lifted their price target on Corebridge Financial from $35.00 to $38.00 and gave the company an outperform rating in a report on Wednesday, April 10th. Royal Bank of Canada reiterated an outperform rating and issued a $32.00 price target on shares of Corebridge Financial in a report on Friday. Piper Sandler lifted their price target on Corebridge Financial from $30.00 to $34.00 and gave the company an overweight rating in a report on Friday, April 5th. Evercore ISI lifted their price target on Corebridge Financial from $30.00 to $32.00 and gave the company an outperform rating in a report on Thursday, April 11th. Finally, The Goldman Sachs Group boosted their target price on Corebridge Financial from $27.00 to $31.00 and gave the stock a buy rating in a research note on Tuesday, January 9th. Three investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, Corebridge Financial currently has an average rating of Moderate Buy and an average price target of $29.08.

Corebridge Financial Trading Down 0.4 %

Shares of NYSE CRBG opened at $26.66 on Monday. The company has a quick ratio of 0.14, a current ratio of 0.14 and a debt-to-equity ratio of 0.92. The business has a fifty day simple moving average of $25.88 and a two-hundred day simple moving average of $23.06. The firm has a market cap of $16.60 billion, a PE ratio of 15.78, a price-to-earnings-growth ratio of 0.31 and a beta of 0.86. Corebridge Financial has a twelve month low of $14.91 and a twelve month high of $29.40.

Corebridge Financial (NYSE:CRBG) last issued its earnings results on Thursday, February 15th. The company reported $1.04 earnings per share for the quarter, beating analysts’ consensus estimates of $0.99 by $0.05. Corebridge Financial had a return on equity of 23.11% and a net margin of 5.92%. The business had revenue of $5.92 billion during the quarter, compared to analyst estimates 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. Analysts expect that Corebridge Financial will post 4.86 earnings per share for the current fiscal year.

Corebridge Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 29th. Shareholders 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 yield of 3.45%. Corebridge Financial’s payout ratio is presently 54.44%.

Institutional Trading of Corebridge Financial

Large investors have recently added to or reduced their stakes in the company. Riverview Trust Co purchased a new stake in Corebridge Financial during the 1st quarter valued at about $25,000. EverSource Wealth Advisors LLC purchased a new stake in Corebridge Financial during the 3rd quarter valued at about $28,000. MetLife Investment Management LLC purchased a new stake in Corebridge Financial during the 4th quarter valued at about $33,000. Advisor Group Holdings Inc. purchased a new stake in Corebridge Financial during the 4th quarter valued at about $35,000. Finally, American International Group Inc. lifted its holdings in shares of Corebridge Financial by 50.8% in the 4th quarter. American International Group Inc. now owns 1,881 shares of the company’s stock valued at $41,000 after buying an additional 634 shares during the period. 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.