Corebridge Financial (NYSE:CRBG) Releases Quarterly Earnings Results, Beats Estimates By $0.05 EPS

Corebridge Financial (NYSE:CRBG) posted its quarterly earnings data on Friday. The company reported $1.10 EPS for the quarter, topping the consensus estimate of $1.05 by $0.05, Briefing.com reports. Corebridge Financial had a net margin of 5.92% and a return on equity of 23.11%. The company had revenue of $5.85 billion during the quarter, compared to analyst estimates of $5.50 billion. During the same period in the previous year, the firm earned $0.97 earnings per share.

Corebridge Financial Stock Performance

Shares of CRBG opened at $28.68 on Monday. The company has a current ratio of 0.14, a quick ratio of 0.14 and a debt-to-equity ratio of 0.92. The firm has a market cap of $17.85 billion, a PE ratio of 7.55, a P/E/G ratio of 0.33 and a beta of 0.96. Corebridge Financial has a 12 month low of $14.91 and a 12 month high of $29.53. The stock has a fifty day moving average price of $26.61 and a 200-day moving average price of $23.71.

Corebridge Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 29th. Stockholders 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 dividend yield of 3.21%. The ex-dividend date of this dividend was Thursday, March 14th. Corebridge Financial’s payout ratio is presently 24.21%.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Piper Sandler raised their price objective on shares of Corebridge Financial from $30.00 to $34.00 and gave the stock an “overweight” rating in a research note on Friday, April 5th. The Goldman Sachs Group raised their price target on shares of Corebridge Financial from $27.00 to $31.00 and gave the stock a “buy” rating in a research note on Tuesday, January 9th. Morgan Stanley raised their target price on shares of Corebridge Financial from $26.00 to $28.00 and gave the stock an “equal weight” rating in a research report on Monday, April 15th. UBS Group increased their price target on Corebridge Financial from $22.00 to $28.00 and gave the stock a “buy” rating in a research report on Wednesday, January 10th. Finally, Keefe, Bruyette & Woods lifted their price objective on shares of Corebridge Financial from $35.00 to $38.00 and gave the company an “outperform” rating in a report on Wednesday, April 10th. Three research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $29.08.

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.