Corebridge Financial, Inc. (NYSE:CRBG – Get Free Report)’s stock price hit a new 52-week high during trading on Friday after the company announced better than expected quarterly earnings. The stock traded as high as $29.53 and last traded at $28.94, with a volume of 980418 shares. The stock had previously closed at $28.12.
The company reported $1.10 earnings per share for the quarter, beating analysts’ consensus estimates of $1.05 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 $5.85 billion for the quarter, compared to the consensus estimate of $5.50 billion. During the same quarter last year, the firm earned $0.97 EPS.
Corebridge Financial Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Friday, March 29th. Investors 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 3.21%. Corebridge Financial’s payout ratio is 54.44%.
Analysts Set New Price Targets
View Our Latest Stock Report on Corebridge Financial
Institutional Trading of Corebridge Financial
A number of hedge funds and other institutional investors have recently made changes to their positions in CRBG. Riverview Trust Co bought a new position in Corebridge Financial in the first quarter valued at approximately $25,000. EverSource Wealth Advisors LLC acquired a new position in Corebridge Financial during the third quarter worth $28,000. Vestor Capital LLC acquired a new position in Corebridge Financial during the fourth quarter worth $43,000. Cullen Frost Bankers Inc. bought a new stake in Corebridge Financial during the third quarter worth $55,000. Finally, Headlands Technologies LLC acquired a new stake in Corebridge Financial in the fourth quarter valued at $65,000. 98.25% of the stock is currently owned by institutional investors and hedge funds.
Corebridge Financial Trading Up 2.0 %
The company has a market cap of $17.85 billion, a P/E ratio of 16.97, a P/E/G ratio of 0.33 and a beta of 0.96. The business’s 50-day moving average price is $26.61 and its 200 day moving average price is $23.68. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.14 and a current ratio of 0.14.
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.
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