Corebridge Financial Inc. (NYSE:CRBG) does about 1.38M shares in volume on a normal day but saw 1870436 shares change hands in Monday trading. The company now has a market cap of 13.67B USD. Its current market price is $21.19, marking an increase of 2.17% compared to the previous close of $20.74. The 52 week high reached by this stock is $23.50 whilst the lowest price level in 52 weeks is $18.81. The script in recent trading has seen the stock touch a high of $21.23 and a low of $20.585.
Corebridge Financial Inc. (CRBG) has a 20-day trading average at $20.44 and the current price is -9.83% off the 52-week high compared with 12.65% distance from its 52-week low. The 50-day simple moving average of the closing price is $20.92. If we look at the stock’s price movements over the week, volatility stands at 3.37%, which decreases to 2.92% over 1 month. It is also key to look at other market indicators of price movement for the stock, where we see that the relative strength index (RSI) is at 56.09 to suggest the stock is neutral.
15 analysts observing the Corebridge Financial Inc. (CRBG) stock have set the 12-month price targets for the company’s shares at between $23.00 and $33.00. The consensus objective for the share price is $26.08, suggesting that the stock has a potential upside of 18.75% over the period. The median price target is 18.5% away from the current levels at $26.00.
FactSet Research has provided data showing that 15 brokerages have issued ratings for the stock. 0 analysts have rated it as a sell, while 0 advise that it is a overweight. 10 analysts have rated it as a buy and 5 have advised that investors hold their positions. The consensus recommendation rating is Overweight and Wall Street’s advice is for investors to Moderate Buy the stock.
The company shares received a number of brokerage firm price updates over the past month, with the latest being on January 13, 2023 when Credit Suisse downgraded the stock to “Neutral” and issued a price target of between $26 and $23. Wells Fargo initiated its price target at $23.
The current price level is 3.86%, 1.24%, and 1.09% away from its SMA20, SMA50, and SMA200 respectively, with the CRBG price moving above the 50-day SMA on January 23. Corebridge Financial Inc. (CRBG) stock is up 1.44% over the week and 7.56% over the past month. Its price is 5.63% year-to-date.
The company’s next earnings report is expected on 05/31/2023, with forecasts estimating quarterly EPS at $0.51 and $2.69 for whole year. Expected sales for next quarter are $5.33 billion, which analysts say will come at $17.65 billion for the current fiscal year and next year at $19.09 billion. In addition, estimates put the company’s current quarterly revenue at an average of $4.08 billion.
Its 12-month price target is $26.00. To reach the target analysts have set, the stock logically needs to grow 18.75 percent from here. Of course, the average price target is just what the average analysts believe a stock will be worth in the next 52 weeks, and is only one metric. There are analysts with lower targets than the average, including one bearish Wall Street research firm advocating investors to wait for the price to pull back to $23.00, given the recent momentum. And then, on the bullish side of things, one analyst is expecting the stock to peak at $33.00.
Outstanding shares total 645.00M with insiders holding 78.01% of the shares and institutional holders owning 12.08% of the company’s common stock. The price to earnings ratio (P/E ratio) amounts to 1.15 while the forward price to earnings ratio is 5.76. Price to book ratio is 1.82 and price to sales ratio is 0.46.
Capital Income Builder isn’t the only investment manager who changed stakes and is followed by T Rowe Price Value Fund, which added 2.35 million shares to end up with 3,773,222 shares worth $75.69 million.