Reassessing The Changing Outlook For Corebridge Financial Inc. (CRBG)

Currently, there are 621.66M common shares owned by the public and among those 234.34M shares have been available to trade.

However, the script later moved the day high at 25.03, up 0.07%. The company’s stock has a 5-day price change of -0.21% and 30.79% over the past three months. CRBG shares are trading 30.79% year to date (YTD), with the 12-month market performance up to 96.17% higher. It has a 12-month low price of $13.53 and touched a high of $29.40 over the same period. CRBG has an average intraday trading volume of 4.38 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 8.45%, 13.01%, and 38.38% respectively.

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Institutional ownership of Corebridge Financial Inc. (NYSE: CRBG) shares accounts for 38.16% of the company’s 621.66M shares outstanding.

It has a market capitalization of $17.64B and a beta (3y monthly) value of 0.91. The stock’s trailing 12-month PE ratio is 16.80, while the earnings-per-share (ttm) stands at $1.69. The company has a PEG of 0.94 and the debt-to-equity ratio at 1.01. Price movements for the stock have been influenced by the stock’s volatility, which stands at 2.78% over the week and 2.91% over the month.

Earnings per share for the fiscal year are expected to increase by 20.54%, and 19.16% over the next financial year.

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. UBS coverage for the Corebridge Financial Inc. (CRBG) stock in a research note released on June 29, 2023 offered a Buy rating with a price target of $22. Citigroup was of a view on April 11, 2023 that the stock is Neutral, while Goldman gave the stock Buy rating on April 04, 2023, issuing a price target of $25- $23. Credit Suisse on their part issued Neutral rating on January 13, 2023.

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