Corebridge Financial (NYSE:CRBG) Given New $40.00 Price Target at JPMorgan Chase & Co.

Corebridge Financial (NYSE:CRBG) had its price target boosted by JPMorgan Chase & Co. from $34.00 to $40.00 in a research report sent to investors on Tuesday,Benzinga reports. They currently have a neutral rating on the stock.

A number of other brokerages also recently commented on CRBG. Wells Fargo & Company lifted their target price on Corebridge Financial from $37.00 to $42.00 and gave the company an “overweight” rating in a research note on Wednesday, July 2nd. Keefe, Bruyette & Woods boosted their target price on shares of Corebridge Financial from $37.00 to $39.00 and gave the company an “outperform” rating in a research note on Wednesday, May 7th. Morgan Stanley upped their price target on shares of Corebridge Financial from $37.00 to $40.00 and gave the stock an “overweight” rating in a research note on Friday, June 27th. UBS Group downgraded shares of Corebridge Financial from a “buy” rating to a “sell” rating and lowered their target price for the stock from $40.00 to $28.00 in a research report on Wednesday, April 2nd. Finally, Piper Sandler raised their price target on Corebridge Financial from $38.00 to $40.00 and gave the company an “overweight” rating in a research report on Thursday, July 3rd. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, Corebridge Financial currently has an average rating of “Moderate Buy” and an average target price of $38.75.

Corebridge Financial Stock Performance

CRBG opened at $35.14 on Tuesday. Corebridge Financial has a 1-year low of $23.69 and a 1-year high of $36.08. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.14 and a quick ratio of 0.14. The stock’s 50 day simple moving average is $32.80 and its 200 day simple moving average is $31.70. The stock has a market cap of $19.32 billion, a P/E ratio of 29.78, a P/E/G ratio of 0.58 and a beta of 1.06.

Corebridge Financial (NYSE:CRBG) last issued its earnings results on Monday, May 5th. The company reported $1.16 earnings per share for the quarter, topping the consensus estimate of $1.15 by $0.01. Corebridge Financial had a return on equity of 22.19% and a net margin of 3.73%. The business had revenue of $4.74 billion for the quarter, compared to analyst estimates of $5.28 billion. During the same period last year, the company posted $1.10 EPS. As a group, equities analysts anticipate that Corebridge Financial will post 5.43 EPS for the current fiscal year.

Corebridge Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Monday, June 16th were issued a dividend of $0.24 per share. The ex-dividend date was Monday, June 16th. This represents a $0.96 annualized dividend and a dividend yield of 2.73%. Corebridge Financial’s dividend payout ratio is presently 81.36%.

Institutional Trading of Corebridge Financial

Large investors have recently made changes to their positions in the company. Smartleaf Asset Management LLC boosted its position in shares of Corebridge Financial by 112.4% during the 4th quarter. Smartleaf Asset Management LLC now owns 907 shares of the company’s stock worth $27,000 after acquiring an additional 480 shares in the last quarter. Oarsman Capital Inc. acquired a new stake in shares of Corebridge Financial during the 4th quarter worth approximately $30,000. Sunbelt Securities Inc. acquired a new stake in shares of Corebridge Financial during the 4th quarter worth approximately $30,000. Whittier Trust Co. of Nevada Inc. boosted its position in shares of Corebridge Financial by 58.4% during the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 1,147 shares of the company’s stock worth $34,000 after acquiring an additional 423 shares in the last quarter. Finally, Brooklyn Investment Group boosted its position in shares of Corebridge Financial by 66.7% during the 1st quarter. Brooklyn Investment Group now owns 1,452 shares of the company’s stock worth $46,000 after acquiring an additional 581 shares in the last quarter. Institutional investors and hedge funds own 98.25% of the company’s stock.

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.