Corebridge Financial (NYSE:CRBG) Releases Earnings Results, Beats Estimates By $0.05 EPS

Corebridge Financial (NYSE:CRBG) posted its earnings results on Friday. The company reported $1.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.05 by $0.05, Briefing.com reports. Corebridge Financial had a net margin of 5.92% and a return on equity of 23.11%. The company had revenue of $5.85 billion during the quarter, compared to analysts’ expectations of $5.50 billion. During the same quarter in the previous year, the company posted $0.97 earnings per share.

Corebridge Financial Stock Up 2.0 %

NYSE CRBG traded up $0.56 on Friday, reaching $28.68. The company had a trading volume of 6,093,955 shares, compared to its average volume of 3,879,546. The firm has a market capitalization of $17.85 billion, a price-to-earnings ratio of 16.96, a price-to-earnings-growth ratio of 0.33 and a beta of 0.96. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.14 and a current ratio of 0.14. Corebridge Financial has a 1-year low of $14.91 and a 1-year high of $29.53. The company’s fifty day moving average is $26.61 and its 200-day moving average is $23.68.

Corebridge Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were paid a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 3.21%. The ex-dividend date of this dividend was Thursday, March 14th. Corebridge Financial’s payout ratio is presently 54.44%.

Analyst Ratings Changes

A number of analysts have commented on CRBG shares. UBS Group lifted their target price on shares of Corebridge Financial from $22.00 to $28.00 and gave the stock a “buy” rating in a report on Wednesday, January 10th. Evercore ISI lifted their target price on shares of Corebridge Financial from $30.00 to $32.00 and gave the stock an “outperform” rating in a report on Thursday, April 11th. The Goldman Sachs Group upped their price objective on shares of Corebridge Financial from $27.00 to $31.00 and gave the company a “buy” rating in a research report on Tuesday, January 9th. Royal Bank of Canada restated an “outperform” rating and issued a $32.00 price objective on shares of Corebridge Financial in a research report on Friday, April 12th. Finally, Morgan Stanley upped their price objective on shares of Corebridge Financial from $26.00 to $28.00 and gave the company an “equal weight” rating in a research report on Monday, April 15th. Three equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $29.08.

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.