Corebridge Financial (CRBG) Expected to Announce Quarterly Earnings on Wednesday

Corebridge Financial (NYSE:CRBG) will likely be announcing its earnings results after the market closes on Wednesday, February 12th. Analysts expect the company to announce earnings of $1.27 per share and revenue of $5.86 billion for the quarter. Investors interested in listening to the company’s conference call can do so using this link.

Corebridge Financial (NYSE:CRBG) last announced its quarterly earnings data on Monday, November 4th. The company reported $1.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.17 by $0.21. The business had revenue of $5.53 billion during the quarter, compared to the consensus estimate of $5.66 billion. Corebridge Financial had a negative net margin of 6.10% and a positive return on equity of 22.24%. The firm’s quarterly revenue was up 39.5% compared to the same quarter last year. During the same quarter last year, the firm earned $1.05 earnings per share. On average, analysts expect Corebridge Financial to post $5 EPS for the current fiscal year and $6 EPS for the next fiscal year.

Corebridge Financial Stock Up 0.1 %

Shares of NYSE CRBG opened at $32.79 on Wednesday. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.14 and a quick ratio of 0.14. The company has a market cap of $18.65 billion, a P/E ratio of -15.69, a PEG ratio of 0.38 and a beta of 0.94. Corebridge Financial has a 1 year low of $23.01 and a 1 year high of $34.66. The firm has a 50-day simple moving average of $31.29 and a two-hundred day simple moving average of $29.97.

Insider Buying and Selling

In other Corebridge Financial news, major shareholder International Group American sold 121,956,256 shares of Corebridge Financial stock in a transaction on Monday, December 9th. The shares were sold at an average price of $31.47, for a total value of $3,837,963,376.32. Following the transaction, the insider now directly owns 127,282,642 shares of the company’s stock, valued at approximately $4,005,584,743.74. The trade was a 48.93 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.08% of the stock is currently owned by insiders.

Analyst Ratings Changes

CRBG has been the subject of several analyst reports. Wells Fargo & Company decreased their price objective on shares of Corebridge Financial from $37.00 to $35.00 and set an “overweight” rating for the company in a research note on Tuesday, January 14th. Barclays raised shares of Corebridge Financial from an “equal weight” rating to an “overweight” rating and set a $37.00 price objective for the company in a research note on Monday, January 6th. Morgan Stanley raised their price objective on shares of Corebridge Financial from $31.00 to $34.00 and gave the stock an “equal weight” rating in a research note on Tuesday, November 5th. BMO Capital Markets initiated coverage on shares of Corebridge Financial in a research note on Thursday, January 23rd. They set an “outperform” rating and a $43.00 price target for the company. Finally, Deutsche Bank Aktiengesellschaft raised shares of Corebridge Financial from a “hold” rating to a “buy” rating and lifted their price target for the company from $33.00 to $40.00 in a research note on Friday, January 10th. Three equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat.com, Corebridge Financial presently has an average rating of “Moderate Buy” and an average price target of $36.43.

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.