As of Wednesday close, Corebridge Financial Inc.’s (NYSE:CRBG) stock traded at $17.75. The average number of shares traded per day over the past five days has been 1,136,240 shares. 2 times new highs have been achieved over the past 5 days. In the last twenty days, the average volume was 1,573,160, while in the previous 50 days, it was 1,818,246.
Since last month, CRBG stock retreated -5.28%. Shares of the company fell to $17.40 on 08/22/23, the lowest level in the past month. Since the beginning of this year, CRBG’s stock price has dropped by -8.18% or -$2.31, and marked a new high 12 times. However, the stock has declined by -21.62% since its 52-week high.
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CRBG stock investors should be aware that Corebridge Financial Inc. (CRBG) stock had its last reported insider trading activity 69 days ago on Jun 23. AMERICAN INTERNATIONAL GROUP,, the 10% Owner of the company, disposed of 10,981,108 shares for $16.41 on Jun 23. It resulted in a $180,199,982 divestment by the insider. AMERICAN INTERNATIONAL GROUP, sold 74,750,000 shares at an average price of $16.25 on Jun 12. The insider now owns 426,395,000 shares following the transaction. On Nov 10, Director Colberg Alan B. bought 30,000 shares at $22.92 apiece. The transaction was valued at $687,474.
Valuation Metrics
Right now, Corebridge Financial Inc. (CRBG) has a P/E ratio of about 5.47. Besides these, the trailing price-to-sales (P/S) ratio of 0.57, the price-to-book (PB) ratio of 1.09, and the price-to-cash flow ratio of 3.09 may also be considered.
The latest dividend of $0.23 per share was paid out, remained unchanged from last year’s $0.23.
Financial Health
According to company report, the long-term debt-to-equity ratio for the quarter ending June 29 was 1.00, and the total debt-to-equity ratio was 1.14. In the year ended June 29, operating margins totaled 15.50%. Based on annual data, CRBG earned $10.46 billion in gross profit and brought in $26.68 billion in revenue.
A company’s management is another factor that investors consider when determining the profitability of an investment. In the past year, return on investment (ROI) was 36.40%. Return on equity (ROE) for the past 12 months was 21.50%.
In Corebridge Financial Inc.’s quarter-end financial report for June 29, it reported total debt of $7.87 billion. According to the earnings report, the company had a higher net income in the recent quarter than it did in the previous quarter. CRBG’s revenue rose 100.0% to $4.26 billion during the quarter, while net income inched up to $5.76 billion. While analysts expected Corebridge Financial Inc. to report $0.93 quarterly earnings, the actual figure was $1.04 per share, beating the consensus estimate by 11.80%. During the quarter, the company generated $1.18 billion in EBITDA. The value of shareholders’ equity is $635.96 million.
Technical Picture
This quick technical analysis looks at Corebridge Financial Inc.’s (CRBG) price momentum. With a historical volatility rate of 19.60%, the RSI 9-day stood at 41.89% on 30 August.
At present, CRBG shares trade -6.43% below its 20-day simple moving average and +11.36% percent above its 100-day simple moving average. However, the stock is currently trading approximately +7.38% above its SMA50 and -22.32% below its SMA200.
Stochastic coefficient K was 28.26% and Stochastic coefficient D was 22.74%, while ATR was 0.41. Given the Stochastic reading of 34.31% for the 14-day period, the RSI (14) reading has been calculated as 43.27%. As of today, the MACD Oscillator reading stands at 0.04, while the 14-day reading stands at -0.05.
Analyst Ratings
Corebridge Financial Inc. (CRBG) has been rated Buy by analysts. According to 0 brokerage firms, CRBG is a sell, and 3 firms recommend it is a Hold. There are 0 analysts who say the stock is underweight. A total of 0 analysts rate Corebridge Financial Inc. stock as buy, with 12 recommending it as overweight.
With a median target price of $25.00, the current consensus forecast for the stock is $20.00 – $31.00. Based on these forecasts, analysts predict Corebridge Financial Inc. (CRBG) will achieve an average price target of $24.92.
