Corebridge Financial Inc. (NYSE: CRBG)’s stock price has soared by 1.49 in relation to previous closing price of 26.26. Nevertheless, the company has seen a gain of 7.03% in its stock price over the last five trading days. globenewswire.com reported 2024-08-06 that Corebridge RIA-specific MYGA Now Available through RIA Fintech Platform Corebridge RIA-specific MYGA Now Available through RIA Fintech Platform
Is It Worth Investing in Corebridge Financial Inc. (NYSE: CRBG) Right Now?
The price-to-earnings ratio for Corebridge Financial Inc. (NYSE: CRBG) is above average at 8.30x. The 36-month beta value for CRBG is also noteworthy at 1.11. There are mixed opinions on the stock, with 0 analysts rating it as a “buy,” 0 rating it as “overweight,” 0 rating it as “hold,” and 0 rating it as “sell.”
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The public float for CRBG is 253.52M, and at present, short sellers hold a 2.66% of that float. The average trading volume of CRBG on August 12, 2024 was 4.16M shares.
CRBG’s Market Performance
CRBG’s stock has seen a 7.03% increase for the week, with a -9.48% drop in the past month and a -9.81% fall in the past quarter. The volatility ratio for the week is 3.36%, and the volatility levels for the past 30 days are at 2.93% for Corebridge Financial Inc. The simple moving average for the last 20 days is -5.85% for CRBG’s stock, with a simple moving average of 4.37% for the last 200 days.
Analysts’ Opinion of CRBG
Many brokerage firms have already submitted their reports for CRBG stocks, with Citigroup repeating the rating for CRBG by listing it as a “Neutral.” The predicted price for CRBG in the upcoming period, according to Citigroup is $19 based on the research report published on July 11, 2023 of the previous year 2023.
UBS, on the other hand, stated in their research note that they expect to see CRBG reach a price target of $22. The rating they have provided for CRBG stocks is “Buy” according to the report published on June 29th, 2023.
Citigroup gave a rating of “Neutral” to CRBG, setting the target price at $18 in the report published on April 11th of the previous year.
CRBG Trading at -7.68% from the 50-Day Moving Average
After a stumble in the market that brought CRBG to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -23.11% of loss for the given period.
Volatility was left at 2.93%, however, over the last 30 days, the volatility rate increased by 3.36%, as shares sank -11.34% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -10.56% lower at present.
During the last 5 trading sessions, CRBG rose by +6.47%, which changed the moving average for the period of 200-days by +27.88% in comparison to the 20-day moving average, which settled at $28.14. In addition, Corebridge Financial Inc. saw 23.04% in overturn over a single year, with a tendency to cut further gains.
Insider Trading
Reports are indicating that there were more than several insider trading activities at CRBG starting from AMERICAN INTERNATIONAL GROUP, who sale 8,032,129 shares at the price of $24.90 back on Aug 07 ’24. After this action, AMERICAN INTERNATIONAL GROUP, now owns 284,238,898 shares of Corebridge Financial Inc., valued at $200,000,012 using the latest closing price.
AMERICAN INTERNATIONAL GROUP, the 10% Owner of Corebridge Financial Inc., sale 1,932,609 shares at $29.20 during a trade that took place back on Jul 02 ’24, which means that AMERICAN INTERNATIONAL GROUP, is holding 292,271,027 shares at $56,432,183 based on the most recent closing price.
Stock Fundamentals for CRBG
Current profitability levels for the company are sitting at:
- 0.07 for the present operating margin
- 0.36 for the gross margin
The net margin for Corebridge Financial Inc. stands at 0.11. The total capital return value is set at 0.0. Equity return is now at value 18.88, with 0.59 for asset returns.
Based on Corebridge Financial Inc. (CRBG), the company’s capital structure generated 0.52 points at debt to capital in total, while cash flow to debt ratio is standing at 0.2. The debt to equity ratio resting at 1.07. The interest coverage ratio of the stock is 2.43.
Currently, EBITDA for the company is 157.0 million with net debt to EBITDA at 3.31. When we switch over and look at the enterprise to sales, we see a ratio of 1.45. The receivables turnover for the company is 0.38for trailing twelve months and the total asset turnover is 0.05.
Conclusion
In summary, Corebridge Financial Inc. (CRBG) has had a mixed performance as of late. Analysts have mixed opinions on the stock, with some viewing it as a “buy” and others as a “hold”. It’s important to note that the stock is currently trading at a significant distance from its 50-day moving average and its 52-week high.
