Does Corebridge Financial Inc. (NYSE:CRBG) warrant a purchase right now? What to Consider Before Making a Decision

The stock of Corebridge Financial Inc. (NYSE:CRBG) last traded at $21.03, up 0.86% from the previous session.

Data from the available sources indicates that Corebridge Financial Inc. (NYSE:CRBG) is covered by 14 analysts. The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $29.00 and a low of $21.00, we find $25.00. Given the previous closing price of $20.85, this indicates a potential upside of 19.9 percent. CRBG stock price is now 8.68% away from the 50-day moving average and 23.11% away from the 200-day moving average. The market capitalization of the company currently stands at $13.63B.

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In total, 4 analysts have assigned it a hold rating, and 10 have given it a buy rating. Brokers who have rated the stock have averaged $25.31 as their price target over the next twelve months.

In other news, AMERICAN INTERNATIONAL GROUP, , 10% Owner sold 50,000,000 shares of the company’s stock on Nov 08. The stock was sold for $1,025,000,000 at an average price of $20.50. Upon completion of the transaction, the 10% Owner now directly owns 365,413,892 shares in the company, valued at $7.68 billion. An SEC document containing details of the transaction can be found on the SEC’s website. On Jun 23, 10% Owner AMERICAN INTERNATIONAL GROUP, sold 10,981,108 shares of the business’s stock. A total of $180,199,982 was realized by selling the stock at an average price of $16.41. This leaves the insider owning 415,413,892 shares of the company worth $8.74 billion. Insiders disposed of 136,067,561 shares of company stock worth roughly $2.86 billion over the past 1 year. A total of 67.54% of the company’s stock is owned by insiders.

With an opening price of $20.86 on Thursday morning, Corebridge Financial Inc. (NYSE: CRBG) set off the trading day. During the past 12 months, Corebridge Financial Inc. has had a low of $12.72 and a high of $21.10. According to the stock market information, the enterprise value for the company is $24.67B, which is based on a 7.30 price-to-earnings ratio, a 0.44 price-to-earnings-growth ratio, and a beta of 0.89. The fifty day moving average price for CRBG is $20.22 and a two-hundred day moving average price translates $18.32 for the stock.

The latest earnings results from Corebridge Financial Inc. (NYSE: CRBG) was released for Sep, 2023. According to the Asset Management Company, earnings per share came in at $1.05, beating analysts’ expectations of $1.03 by 0.02. This compares to $3.72 EPS in the same period last year. The net profit margin was 9.41% and return on equity was 23.24% for CRBG. The company reported revenue of $5.5 billion for the quarter, compared to $6.54 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -15.8 percent. For the current quarter, analysts expect CRBG to generate $5.58B in revenue.

Corebridge Financial Inc.(CRBG) Company Profile

Corebridge Financial, Inc. provides retirement solutions and insurance products in the United States. It 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. The Group Retirement segment offers record-keeping services, plan administration and compliance services, and financial planning and advisory solutions to employer-defined contribution plans and their participants, as well as proprietary and non-proprietary annuities, advisory services, and brokerage products. The Life Insurance segment offers term life and universal life insurance in the United States, as well as issues individual life, whole life, and group life insurance in the United Kingdom; and distributes medical insurance in Ireland. The Institutional Markets segment provides stable value wraps, structured settlement and pension risk transfer annuities, corporate and bank owned life insurance, private placement variable universal life and annuities products, and guaranteed investment contracts. The company was formerly known as SAFG Retirement Services, Inc. The company was incorporated in 1998 and is headquartered in Houston, Texas. Corebridge Financial, Inc. operates as a subsidiary of American International Group, Inc.

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