With over 5.25 million Corebridge Financial Inc. (CRBG) shares trading Tuesday and a closing price of $20.00 on the day, the dollar volume was approximately $105.06 million. The shares have shown a positive half year performance of 26.13% and its price on 11/21/23 gained nearly 1.68%. Currently, there are 645.00M common shares owned by the public and among those 210.38M shares have been available to trade.
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 15 analysts who have offered their price forecasts for CRBG have a consensus price objective of $25.31. The analysts have set the share’s price value over the next 12 months at a high of $29.00 and a low of $21.00. The average price target is 20.98% above its recent price level and an upside to the estimated low will see the stock gain 4.76% over that period. But an upside of 31.03% will see the stock hit the forecast high price target while median target price for the stock is $25.00.
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Insiders at the company have transacted a total of 51 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 19 of these insider trades were purchases, accounting for 503,650 shares. Insider sales of the common stock occurred on 32 occasions, with total insider shares sold totaling 86,067,561 shares.
Shares of Corebridge Financial Inc. (NYSE: CRBG) opened at $19.65, down -$0.02 from a prior closing price of $19.67. However, the script later moved the day high at 20.00, up 1.68%. The company’s stock has a 5-day price change of 1.57% and 19.62% over the past three months. CRBG shares are trading 9.84% year to date (YTD), with the 12-month market performance up to 0.47% higher. It has a 12-month low price of $12.72 and touched a high of $20.61 over the same period. CRBG has an average intraday trading volume of 2.76 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 3.29%, 5.38%, and 17.29% respectively.
Institutional ownership of Corebridge Financial Inc. (NYSE: CRBG) shares accounts for 25.42% of the company’s 645.00M shares outstanding.
It has a market capitalization of $12.96B and a beta (3y monthly) value of 0.75. The stock’s trailing 12-month PE ratio is 6.94, while the earnings-per-share (ttm) stands at $2.88. The company has a PEG of 0.42 and the debt-to-equity ratio at 1.43. Price movements for the stock have been influenced by the stock’s volatility, which stands at 2.02% over the week and 2.62% over the month.
Analysts forecast that Corebridge Financial Inc. (CRBG) will achieve an EPS of $1.04 for the current quarter, $1.14 for the next quarter and $4.93 for 2024. The lowest estimate earnings-per-share for the quarter is $1 while analysts give the company a high EPS estimate of $1.09. Comparatively, EPS for the current quarter was $0.88 a year ago. Earnings per share for the fiscal year are expected to increase by 43.47%, and 20.20% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 15 brokerage firm advisors rate Corebridge Financial Inc. (CRBG) as a “Strong Buy” at a consensus score of 1.53. Specifically, 11 Wall Street analysts polled rate the stock as a buy, while 4 of the 15 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the CRBG, a number of firms have released research notes about the stock. Citigroup stated their Neutral rating for the stock in a research note on July 11, 2023, with the firm’s price target at $18-$19.
