Corebridge Financial Target of Unusually High Options Trading (NYSE:CRBG)

Corebridge Financial, Inc. (NYSE:CRBG) was the target of unusually large options trading activity on Thursday. Investors purchased 30,834 call options on the company. This represents an increase of approximately 3,092% compared to the typical volume of 966 call options.

Analyst Ratings Changes

CRBG has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. cut their price target on shares of Corebridge Financial from $37.00 to $36.00 and set a “neutral” rating for the company in a report on Tuesday. Keefe, Bruyette & Woods raised their price objective on Corebridge Financial from $31.00 to $38.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 6th. UBS Group cut their price objective on Corebridge Financial from $33.00 to $29.00 and set a “neutral” rating for the company in a research report on Tuesday, April 28th. Mizuho lifted their target price on shares of Corebridge Financial from $31.00 to $35.00 and gave the company an “outperform” rating in a report on Thursday, May 7th. Finally, Barclays dropped their target price on shares of Corebridge Financial from $33.00 to $30.00 and set an “overweight” rating for the company in a report on Wednesday, April 8th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Corebridge Financial presently has a consensus rating of “Moderate Buy” and an average price target of $35.92.

Hedge Funds Weigh In On Corebridge Financial

Institutional investors have recently modified their holdings of the business. Community Bank N.A. acquired a new position in shares of Corebridge Financial in the third quarter worth $26,000. Smartleaf Asset Management LLC grew its stake in Corebridge Financial by 83.6% during the 3rd quarter. Smartleaf Asset Management LLC now owns 828 shares of the company’s stock worth $27,000 after purchasing an additional 377 shares in the last quarter. Salomon & Ludwin LLC grew its stake in Corebridge Financial by 179.7% during the 4th quarter. Salomon & Ludwin LLC now owns 828 shares of the company’s stock worth $26,000 after purchasing an additional 532 shares in the last quarter. Rothschild Investment LLC grew its stake in Corebridge Financial by 133.3% during the 4th quarter. Rothschild Investment LLC now owns 910 shares of the company’s stock worth $27,000 after purchasing an additional 520 shares in the last quarter. Finally, Root Financial Partners LLC acquired a new position in Corebridge Financial during the 3rd quarter worth $32,000. Institutional investors and hedge funds own 98.25% of the company’s stock.

Corebridge Financial Trading Up 3.7%

NYSE:CRBG traded up $0.97 on Thursday, reaching $27.41. 3,974,603 shares of the company’s stock were exchanged, compared to its average volume of 5,265,025. The company has a quick ratio of 0.12, a current ratio of 0.12 and a debt-to-equity ratio of 0.99. The firm has a market capitalization of $12.52 billion, a price-to-earnings ratio of 49.99, a price-to-earnings-growth ratio of 0.36 and a beta of 1.18. The business has a fifty day moving average of $25.25 and a 200-day moving average of $28.45. Corebridge Financial has a 52-week low of $22.19 and a 52-week high of $36.57.

Corebridge Financial (NYSE:CRBG) last issued its quarterly earnings results on Wednesday, May 6th. The company reported $1.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.07 by ($0.02). The business had revenue of $4.09 billion for the quarter, compared to analysts’ expectations of $5.06 billion. Corebridge Financial had a return on equity of 18.44% and a net margin of 1.20%.During the same quarter last year, the company earned $1.16 earnings per share. As a group, analysts expect that Corebridge Financial will post 4.93 earnings per share for the current year.

Corebridge Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 16th will be paid a dividend of $0.25 per share. The ex-dividend date is Tuesday, June 16th. This represents a $1.00 dividend on an annualized basis and a yield of 3.6%. Corebridge Financial’s dividend payout ratio is 181.82%.

Corebridge Financial Company Profile

Corebridge Financial (NYSE: CRBG) is a publicly traded provider of retirement, life insurance and asset management solutions. Formed from the separation of American International Group’s life and retirement operations, Corebridge focuses on helping individuals, employers and institutions manage retirement income, protect against longevity and mortality risks, and invest long-term savings. The company operates under a unified brand that brings together insurance products and investment capabilities to deliver integrated financial solutions.

Corebridge’s product suite includes retirement income and annuity products, individual and group life insurance, asset management and investment advisory services, and employer-sponsored retirement plan offerings.