Corebridge Financial (NYSE:CRBG) Given New $34.00 Price Target at JPMorgan Chase & Co.

Corebridge Financial (NYSE:CRBG) had its price target raised by JPMorgan Chase & Co. from $26.00 to $34.00 in a report published on Tuesday, Benzinga reports. The firm currently has a neutral rating on the stock.

CRBG has been the topic of several other reports. Morgan Stanley raised their target price on Corebridge Financial from $26.00 to $28.00 and gave the stock an equal weight rating in a report on Monday, April 15th. Keefe, Bruyette & Woods raised their price objective on shares of Corebridge Financial from $35.00 to $38.00 and gave the stock an outperform rating in a research note on Wednesday, April 10th. Jefferies Financial Group boosted their target price on shares of Corebridge Financial from $35.00 to $40.00 and gave the company a buy rating in a research note on Friday, June 28th. Piper Sandler raised their price target on shares of Corebridge Financial from $34.00 to $35.00 and gave the company an overweight rating in a research report on Monday, May 6th. Finally, Evercore ISI upped their price objective on shares of Corebridge Financial from $30.00 to $32.00 and gave the stock an outperform rating in a research report on Thursday, April 11th. Four equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, Corebridge Financial currently has a consensus rating of Moderate Buy and a consensus price target of $31.42.

Corebridge Financial Stock Down 0.8 %

CRBG stock opened at $29.35 on Tuesday. The company has a market capitalization of $17.86 billion, a P/E ratio of 7.72, a price-to-earnings-growth ratio of 0.32 and a beta of 0.97. Corebridge Financial has a 12 month low of $17.40 and a 12 month high of $34.66. The firm’s fifty day simple moving average is $29.39 and its 200-day simple moving average is $26.49. The company has a debt-to-equity ratio of 0.94, a current ratio of 0.14 and a quick ratio of 0.14.

Corebridge Financial (NYSE:CRBG) last posted its quarterly earnings results on Friday, May 3rd. The company reported $1.10 EPS for the quarter, beating the consensus estimate of $1.05 by $0.05. The company had revenue of $5.85 billion for the quarter, compared to analyst estimates of $5.50 billion. Corebridge Financial had a net margin of 11.25% and a return on equity of 23.64%. During the same period in the prior year, the company earned $0.97 earnings per share. As a group, equities research analysts forecast that Corebridge Financial will post 4.88 earnings per share for the current year.

Corebridge Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 14th were paid a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 3.13%. The ex-dividend date was Friday, June 14th. Corebridge Financial’s dividend payout ratio is presently 24.21%.

Insiders Place Their Bets

In other news, major shareholder International Group American sold 30,000,000 shares of the firm’s stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $29.20, for a total value of $876,000,000.00. Following the transaction, the insider now owns 294,203,636 shares in the company, valued at $8,590,746,171.20. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.09% of the stock is owned by company insiders.

Institutional Investors Weigh In On Corebridge Financial

Large investors have recently modified their holdings of the business. Riverview Trust Co acquired a new position in Corebridge Financial during the first quarter worth about $25,000. Vestor Capital LLC acquired a new position in shares of Corebridge Financial during the 4th quarter worth approximately $43,000. Headlands Technologies LLC purchased a new stake in shares of Corebridge Financial in the fourth quarter valued at approximately $65,000. Plato Investment Management Ltd purchased a new stake in shares of Corebridge Financial in the first quarter valued at approximately $100,000. Finally, UniSuper Management Pty Ltd acquired a new stake in shares of Corebridge Financial in the first quarter valued at approximately $103,000. 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.