Market Update: Corebridge Financial Inc. (CRBG) Sees Negative Movement, Closing at 29.55

Beyond market trends, investors keen on maximizing returns delve into the world of stock picking. The right selections can be instrumental in catapulting your wealth.

In the latest session, Corebridge Financial Inc. (NYSE: CRBG) closed at $29.55 down -2.31% from its previous closing price of $30.25. In other words, the price has decreased by -$2.31 from its previous closing price. On the day, 3.41 million shares were traded. CRBG stock price reached its highest trading level at $30.62 during the session, while it also had its lowest trading level at $29.405.

Ratios:

For a deeper understanding of Corebridge Financial Inc.’s stock, let’s take a closer look at its various ratios. In the meantime, Its Debt-to-Equity ratio is 1.03 whereas as Long-Term Debt/Eq ratio is at 1.01.

On June 29, 2023, UBS started tracking the stock assigning a Buy rating and target price of $22.

Insider Transactions:

Additionally, insider trades can be beneficial to investors who want to learn what the management thinks about stock prices in the future. A recent insider transaction in this stock occurred on Dec 18 ’23 when AMERICAN INTERNATIONAL GROUP, sold 6,210,256 shares for $21.75 per share. The transaction valued at 135,073,068 led to the insider holds 324,203,636 shares of the business.

AMERICAN INTERNATIONAL GROUP, sold 35,000,000 shares of CRBG for $717,500,000 on Dec 05 ’23. The 10% Owner now owns 330,413,892 shares after completing the transaction at $20.50 per share. On Nov 08 ’23, another insider, AMERICAN INTERNATIONAL GROUP, , who serves as the 10% Owner of the company, sold 50,000,000 shares for $20.50 each. As a result, the insider received 1,025,000,000 and left with 365,413,892 shares of the company.

Valuation Measures:

Investors should consider key stock statistics when deciding whether to invest or divest. In the wake of the recent closing price, CRBG now has a Market Capitalization of 18073991168 and an Enterprise Value of 26230980608. As of this moment, Corebridge’s Price-to-Earnings (P/E) ratio for their current fiscal year is 7.78, and their Forward P/E ratio for the next fiscal year is 5.06. The expected Price-to-Earnings-to-Growth (PEG) calculation for the next 5 years is 0.42. For the stock, the TTM Price-to-Sale (P/S) ratio is 0.87 while its Price-to-Book (P/B) ratio in mrq is 1.57. Its current Enterprise Value per Revenue stands at 1.27 whereas that against EBITDA is 10.724.

Stock Price History:

The Beta on a monthly basis for CRBG is 1.02, which has changed by 0.77584136 over the last 52 weeks, in comparison to a change of 0.26265144 over the same period for the S&P500. Over the past 52 weeks, CRBG has reached a high of $30.98, while it has fallen to a 52-week low of $14.67. The 50-Day Moving Average of the stock is 9.57%, while the 200-Day Moving Average is calculated to be 34.35%.

Shares Statistics:

For the past three months, CRBG has traded an average of 4.81M shares per day and 4666910 over the past ten days. A total of 621.66M shares are outstanding, with a floating share count of 230.17M. Insiders hold about 62.37% of the company’s shares, while institutions hold 41.24% stake in the company. Shares short for CRBG as of 1714435200 were 26910258 with a Short Ratio of 5.59, compared to 1711584000 on 17325607. Therefore, it implies a Short% of Shares Outstanding of 26910258 and a Short% of Float of 9.39.

Dividends & Splits

According to the company, the forward annual dividend rate for CRBG is 0.92, from 0.92 in the trailing year. Against a Trailing Annual Dividend Yield of 0.030413223

Earnings Estimates

A detailed examination of Corebridge Financial Inc. (CRBG) is currently in progress, with 12.0 analysts providing valuable insights into its market dynamics.On average, analysts expect EPS of $1.05 for the current quarter, with a high estimate of $1.14 and a low estimate of $0.93, while EPS last year was $0.97. The consensus estimate for the next quarter is $1.2, with high estimates of $1.25 and low estimates of $1.14.

Analysts are recommending an EPS of between $5.0 and $4.8 for the fiscal current year, implying an average EPS of $4.92. EPS for the following year is $5.87, with 11.0 analysts recommending between $6.15 and $5.65.

Revenue Estimates

For the next quarter, 4 analysts are estimating revenue of $5.81B. There is a high estimate of $6.06B for the next quarter, whereas the lowest estimate is $5.3B.

A total of 4 analysts have provided revenue estimates for CRBG’s current fiscal year. The highest revenue estimate was $24.84B, while the lowest revenue estimate was $22.05B, resulting in an average revenue estimate of $23.68B. In the same quarter a year ago, actual revenue was $21.21BBased on 4 analysts’ estimates, the company’s revenue will be $24.79B in the next fiscal year. The high estimate is $26.25B and the low estimate is $22.58B.

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