Corebridge Financial Inc. (NYSE: CRBG)’s stock price has gone rise by 2.94 in comparison to its previous close of 27.88, however, the company has experienced a 5.59% increase in its stock price over the last five trading days. seekingalpha.com reported 2024-09-11 that Corebridge Financial, a former AIG spinoff, sees its price drop near the moving average after an extended bullish period. The firm’s diversified product mix across insurance, retirement, and annuities positions it to take advantage of a large market and growth potential. Undervalued vs. key peers, while its 3.4% dividend yield is above the sector average.
Is It Worth Investing in Corebridge Financial Inc. (NYSE: CRBG) Right Now?
Corebridge Financial Inc. (NYSE: CRBG) has a higher price-to-earnings ratio of 8.94x compared to its average ratio. CRBG has 36-month beta value of 1.02. Analysts have mixed views on the stock, with 6 analysts rating it as a “buy,” 3 as “overweight,” 5 as “hold,” and 0 as “sell.”
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The public float for CRBG is 249.10M, and currently, short sellers hold a 1.86% ratio of that float. The average trading volume of CRBG on September 23, 2024 was 3.14M shares.
CRBG’s Market Performance
The stock of Corebridge Financial Inc. (CRBG) has seen a 5.59% increase in the past week, with a 1.31% rise in the past month, and a -2.88% fall in the past quarter. The volatility ratio for the week is 1.84%, and the volatility levels for the past 30 days are at 2.55% for CRBG. The simple moving average for the past 20 days is 2.92% for CRBG’s stock, with a 7.49% simple moving average for the past 200 days.
Analysts’ Opinion of CRBG
Many brokerage firms have already submitted their reports for CRBG stocks, with Barclays repeating the rating for CRBG by listing it as a “Equal Weight.” The predicted price for CRBG in the upcoming period, according to Barclays is $33 based on the research report published on September 05, 2024 of the current year 2024.
Citigroup, on the other hand, stated in their research note that they expect to see CRBG reach a price target of $19, previously predicting the price at $18. The rating they have provided for CRBG stocks is “Neutral” according to the report published on July 11th, 2023.
UBS gave a rating of “Buy” to CRBG, setting the target price at $22 in the report published on June 29th of the previous year.
CRBG Trading at 2.34% 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 -17.20% of loss for the given period.
Volatility was left at 2.55%, however, over the last 30 days, the volatility rate increased by 1.84%. Over the last 50 days, in opposition, the stock is trading -2.41% lower at present.
During the last 5 trading sessions, CRBG rose by +5.70%, which changed the moving average for the period of 200-days by +42.65% in comparison to the 20-day moving average, which settled at $27.89. In addition, Corebridge Financial Inc. saw 32.50% 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 5,000,000 shares at the price of $28.86 back on Sep 16 ’24. After this action, AMERICAN INTERNATIONAL GROUP, now owns 279,238,898 shares of Corebridge Financial Inc., valued at $144,300,000 using the latest closing price.
American International Group, the 10% Owner of Corebridge Financial Inc., proposed sale 5,000,000 shares at $27.18 during a trade that took place back on Sep 16 ’24, which means that American International Group, is holding shares at $135,900,000 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 1.51. The receivables turnover for the company is 29.89for trailing twelve months and the total asset turnover is 0.05.
Conclusion
To put it simply, Corebridge Financial Inc. (CRBG) has had a better performance in recent times. Analysts have a bullish opinion on the stock, with some rating 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.
