Corebridge Financial (NYSE:CRBG) Announces Quarterly Earnings Results

Corebridge Financial (NYSE:CRBG - Get Free Report) posted its quarterly earnings results on Monday. The company reported $1.36 earnings per share for the quarter, beating the consensus estimate of $1.15 by $0.21, Zacks reports. Corebridge Financial had a net margin of 3.73% and a return on equity of 22.19%. The firm had revenue of $4.42 billion during the quarter, compared to the consensus estimate of $4.85 billion. During the same period in the previous year, the firm posted $1.13 earnings per share.Get Corebridge Financial alerts:Corebridge Financial Stock Up 0.8%Corebridge Financial stock opened at $34.77 on Tuesday. Corebridge Financial has a fifty-two week low of $23.69 and a fifty-two week high of $36.41. The stock has a market cap of $19.11 billion, a PE ratio of 29.46, a price-to-earnings-growth ratio of 0.56 and a beta of 1.06. The firm's 50-day simple moving average is $34.07 and its 200 day simple moving average is $32.31. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.14 and a current ratio of 0.14. Wall Street Analyst Weigh InSeveral research firms have recently commented on CRBG. Barclays boosted their target price on shares of Corebridge Financial from $38.00 to $45.00 and gave the stock an "overweight" rating in a research report on Thursday, June 26th. Morgan Stanley boosted their target price on shares of Corebridge Financial from $37.00 to $40.00 and gave the stock an "overweight" rating in a research report on Friday, June 27th. Piper Sandler boosted their target price on shares of Corebridge Financial from $38.00 to $40.00 and gave the stock an "overweight" rating in a research report on Thursday, July 3rd. JPMorgan Chase & Co. boosted their target price on shares of Corebridge Financial from $34.00 to $40.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 8th. Finally, UBS Group raised shares of Corebridge Financial from a "sell" rating to a "neutral" rating and boosted their target price for the stock from $28.00 to $37.00 in a research report on Friday, July 11th. Four research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $40.70.Get Our Latest Research Report on Corebridge FinancialInstitutional Inflows and OutflowsA hedge fund recently bought a new stake in Corebridge Financial stock. Focus Partners Wealth purchased a new position in shares of Corebridge Financial, Inc. (NYSE:CRBG - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 12,173 shares of the company's stock, valued at approximately $384,000. Institutional investors and hedge funds own 98.25% of the company's stock. About Corebridge Financial (Get Free Report)Corebridge Financial, Inc provides retirement solutions and insurance products in the United States. The company 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.Further ReadingFive stocks we like better than Corebridge FinancialGrowth Stocks: What They Are, Examples and How to InvestAnalysts Make a Quantum Bet on D-Wave's Cryogenic Packaging Are Penny Stocks a Good Fit for Your Portfolio?Traders Turn Bullish on Housing Stocks Again—3 Leading the WayWhat Are Dividend Achievers? An IntroductionOnsemi’s August Pullback Is a Signal to Buy for Tech InvestorsShould You Invest $1,000 in Corebridge Financial Right Now?Before you consider Corebridge Financial, you'll want to hear this.MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Corebridge Financial wasn't on the list.While Corebridge Financial currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.View The Five Stocks Here