Corebridge Financial Inc. (CRBG): Not A Time To Panic Nor Freeze

Corebridge Financial Inc. (CRBG) concluded trading on Thursday at a closing price of $29.70, with 3.45 million shares of worth about $102.45 million changed hands on the day. Half year performance of the stock remained positive as price took a surge of 36.24% during that period and on June 20, 2024 the price saw a gain of about 1.85%. Currently the company’s common shares owned by public are about 621.66M shares, out of which, 250.61M shares are available for trading.

Stock saw a price change of 2.27% in past 5 days and over the past one month there was a price change of -3.35%. Year-to-date (YTD), CRBG shares are showing a performance of 37.12% which increased to 90.75% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $15.21 but also hit the highest price of $34.66 during that period. The average intraday trading volume for Corebridge Financial Inc. shares is 4.80 million. The stock is currently trading 0.78% above its 20-day simple moving average (SMA20), while that difference is up 3.34% for SMA50 and it goes to 25.46% higher than SMA200.

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Corebridge Financial Inc. (NYSE: CRBG) currently have 621.66M outstanding shares and institutions hold larger chunk of about 40.80% of that.

The stock has a current market capitalization of $18.07B and its 3Y-monthly beta is at 0.99. PE ratio of stock for trailing 12 months is 7.82, while it has posted earnings per share of $3.80 in the same period. Its PEG reads 0.42 while making debt-to-equity ratio of 1.03. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for CRBG, volatility over the week remained 1.88% while standing at 2.21% over the month.

Stock’s fiscal year EPS is expected to rise by 19.10% while it is estimated to increase by 18.49% in next year.

Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by Citigroup on July 11, 2023 offering a Neutral rating for the stock and assigned a target price range of between $18 and $19 to it. Coverage by UBS stated Corebridge Financial Inc. (CRBG) stock as a Buy in their note to investors on June 29, 2023, suggesting a price target of $22 for the stock. On April 11, 2023, Citigroup Resumed their recommendations, while on April 04, 2023, Goldman Upgrade their ratings for the stock with a price target of $23. Stock get a Neutral rating from Credit Suisse on January 13, 2023.

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