Corebridge Financial (NYSE:CRBG) PT Raised to $34.00 at Barclays

12 Oct 2024, 07:10 by Kim Johansen · The Markets Daily

Corebridge Financial (NYSE:CRBG – Free Report) had its price target increased by Barclays from $33.00 to $34.00 in a research report released on Tuesday, Benzinga reports. They currently have an equal weight rating on the stock.

Other equities research analysts have also recently issued research reports about the company. JPMorgan Chase & Co. boosted their price objective on Corebridge Financial from $26.00 to $34.00 and gave the company a neutral rating in a research note on Tuesday, July 2nd. Morgan Stanley cut their price target on Corebridge Financial from $33.00 to $31.00 and set an equal weight rating for the company in a research note on Monday, August 19th. Royal Bank of Canada cut their price target on Corebridge Financial from $33.00 to $32.00 and set an outperform rating for the company in a research note on Friday, August 2nd. Jefferies Financial Group upped their price target on Corebridge Financial from $35.00 to $40.00 and gave the stock a buy rating in a research note on Friday, June 28th. Finally, UBS Group upped their price target on Corebridge Financial from $29.00 to $35.00 and gave the stock a buy rating in a research note on Tuesday, July 9th. Three equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and an average target price of $34.46.

Get Our Latest Analysis on Corebridge Financial

Corebridge Financial Price Performance

Shares of NYSE CRBG opened at $30.32 on Tuesday. The company has a current ratio of 0.14, a quick ratio of 0.14 and a debt-to-equity ratio of 0.97. Corebridge Financial has a twelve month low of $18.83 and a twelve month high of $34.66. The stock has a 50 day moving average of $28.02 and a two-hundred day moving average of $28.62. The stock has a market cap of $17.95 billion, a P/E ratio of 9.45, a P/E/G ratio of 0.42 and a beta of 0.97.

Corebridge Financial (NYSE:CRBG – Get Free Report) last issued its quarterly earnings data on Thursday, August 1st. The company reported $1.13 earnings per share for the quarter, beating analysts’ consensus estimates of $1.09 by $0.04. Corebridge Financial had a return on equity of 23.57% and a net margin of 10.16%. The company had revenue of $4.18 billion during the quarter, compared to analysts’ expectations of $5.73 billion. During the same quarter in the previous year, the business earned $1.04 earnings per share. On average, research analysts forecast that Corebridge Financial will post 4.66 earnings per share for the current year.

Corebridge Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 16th were given a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 3.03%. The ex-dividend date was Monday, September 16th. Corebridge Financial’s payout ratio is 28.66%.

Insiders Place Their Bets

In other Corebridge Financial news, major shareholder International Group American sold 5,000,000 shares of the company’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $28.86, for a total value of $144,300,000.00. Following the sale, the insider now owns 279,238,898 shares of the company’s stock, valued at approximately $8,058,834,596.28. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.08% of the stock is currently owned by company insiders.

Institutional Trading of Corebridge Financial

Several large investors have recently bought and sold shares of CRBG. Riverview Trust Co acquired a new stake in shares of Corebridge Financial during the first quarter valued at $25,000. ORG Wealth Partners LLC acquired a new stake in shares of Corebridge Financial during the third quarter valued at $29,000. LRI Investments LLC acquired a new stake in shares of Corebridge Financial during the second quarter valued at $30,000. ORG Partners LLC acquired a new stake in shares of Corebridge Financial during the second quarter valued at $32,000. Finally, Fifth Third Bancorp acquired a new stake in shares of Corebridge Financial during the second quarter valued at $54,000. Institutional investors and hedge funds own 98.25% of the company’s stock.

Corebridge Financial Company Profile

(Get Free Report)