Corebridge Financial, Inc. (NYSE:CRBG) Plans $0.23 Quarterly Dividend

Corebridge Financial, Inc. (NYSE:CRBG) announced a quarterly dividend on Monday, May 6th, Wall Street Journal reports. Shareholders of record on Friday, June 14th will be paid a dividend of 0.23 per share on Friday, June 28th. This represents a $0.92 dividend on an annualized basis and a yield of 3.15%. The ex-dividend date of this dividend is Friday, June 14th.

Corebridge Financial Trading Up 1.8 %

Corebridge Financial stock opened at $29.21 on Tuesday. Corebridge Financial has a 52 week low of $16.13 and a 52 week high of $29.59. The stock has a market capitalization of $18.18 billion, a P/E ratio of 7.69, a PEG ratio of 0.33 and a beta of 0.96. The stock has a 50-day simple moving average of $26.71 and a 200 day simple moving average of $23.77. 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 (NYSE:CRBG) last posted its quarterly earnings results on Friday, May 3rd. The company reported $1.10 earnings per share for the quarter, beating analysts’ consensus estimates of $1.05 by $0.05. Corebridge Financial had a return on equity of 24.31% and a net margin of 11.25%. The business had revenue of $5.85 billion for the quarter, compared to analysts’ expectations of $5.50 billion. During the same quarter in the prior year, the business earned $0.97 EPS. Analysts expect that Corebridge Financial will post 4.82 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. 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. Morgan Stanley increased their target price on Corebridge Financial from $26.00 to $28.00 and gave the stock an “equal weight” rating in a research note on Monday, April 15th. Wells Fargo & Company boosted their price target on Corebridge Financial from $30.00 to $33.00 and gave the company an “overweight” rating in a research note on Thursday, April 11th. Evercore ISI increased their price objective on Corebridge Financial from $30.00 to $32.00 and gave the stock an “outperform” rating in a research report on Thursday, April 11th. Finally, Keefe, Bruyette & Woods boosted their target price on shares of Corebridge Financial from $35.00 to $38.00 and gave the company an “outperform” rating in a research report on Wednesday, April 10th. Three analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $29.17.

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.