Corebridge Financial (NYSE:CRBG – Get Free Report) issued its quarterly earnings data on Monday. The company reported $1.38 earnings per share for the quarter, topping the consensus estimate of $1.17 by $0.21, Briefing.com reports. The company had revenue of $5.53 billion for the quarter, compared to analysts’ expectations of $5.66 billion. Corebridge Financial had a return on equity of 23.57% and a net margin of 10.16%. The firm’s revenue for the quarter was up 39.5% on a year-over-year basis. During the same period in the previous year, the firm posted $1.05 earnings per share.
Corebridge Financial Price Performance
Shares of NYSE CRBG opened at $32.10 on Wednesday. The company has a quick ratio of 0.14, a current ratio of 0.14 and a debt-to-equity ratio of 0.97. Corebridge Financial has a 52 week low of $18.83 and a 52 week high of $34.66. The business’s 50 day moving average price is $29.46 and its 200 day moving average price is $29.07. The firm has a market cap of $19.00 billion, a P/E ratio of 9.34, a P/E/G ratio of 0.43 and a beta of 0.90.
Corebridge Financial Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 17th will be paid a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 2.87%. The ex-dividend date of this dividend is Tuesday, December 17th. Corebridge Financial’s payout ratio is 28.66%.
Insider Buying and Selling at Corebridge Financial
Analyst Upgrades and Downgrades
CRBG has been the topic of several recent analyst reports. UBS Group increased their target price on shares of Corebridge Financial from $29.00 to $35.00 and gave the company a “buy” rating in a research note on Tuesday, July 9th. Morgan Stanley upped their price target on shares of Corebridge Financial from $31.00 to $34.00 and gave the company an “equal weight” rating in a report on Tuesday. TD Cowen started coverage on Corebridge Financial in a report on Wednesday, October 9th. They issued a “buy” rating and a $35.00 price target on the stock. Royal Bank of Canada lowered their price target on shares of Corebridge Financial from $33.00 to $32.00 and set an “outperform” rating for the company in a research report on Friday, August 2nd. Finally, Barclays increased their price objective on shares of Corebridge Financial from $34.00 to $36.00 and gave the company an “equal weight” rating in a research note on Tuesday. Three investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $34.85.
Read Our Latest Analysis on Corebridge Financial
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.
Featured Stories
- Five stocks we like better than Corebridge Financial
- What is the FTSE 100 index?
- 3 Rising-Margin Stocks with Strong Growth Potential
- What is the Dogs of the Dow Strategy? Overview and Examples
- 3 Recession-Resistant Stocks: Low Beta, High Margins, Low Debt
- Why Invest in 5G? How to Invest in 5G Stocks
- 2 Alternative Internet Stocks Staging a Breakout in 2024
Receive News & Ratings for Corebridge Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Corebridge Financial and related companies with MarketBeat.com's FREE daily email newsletter.