The stock of Corebridge Financial Inc (CRBG) has gone down by -0.55% for the week, with a -2.87% drop in the past month and a 10.91% rise in the past quarter. The volatility ratio for the week is 2.22%, and the volatility levels for the past 30 days are 2.48% for CRBG. The simple moving average for the past 20 days is -1.82% for CRBG’s stock, with a 8.82% simple moving average for the past 200 days.
Is It Worth Investing in Corebridge Financial Inc (NYSE: CRBG) Right Now?
Moreover, the 36-month beta value for CRBG is 0.90. Analysts have varying opinions on the stock, with 6 analysts rating it as a “buy,” 3 as “overweight,” 6 as “hold,” and 0 as “sell.”
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The public float for CRBG is 268.33M and currently, short sellers hold a 3.30% of that float. On November 19, 2024, CRBG’s average trading volume was 3.47M shares.
CRBG) stock’s latest price update
The stock of Corebridge Financial Inc (NYSE: CRBG) has increased by 1.05 when compared to last closing price of 30.48.Despite this, the company has seen a loss of -0.55% in its stock price over the last five trading days. businesswire.com reported 2024-11-07 that HOUSTON–(BUSINESS WIRE)–Corebridge Financial, Inc. (NYSE: CRBG) today announced that the previously announced secondary offering by American International Group, Inc. (NYSE: AIG) of common stock of Corebridge Financial has priced at $31.20 per share. The offering is expected to close on November 12, 2024, subject to customary closing conditions. AIG, as the selling stockholder, has offered 30 million existing shares of common stock (out of approximately 568 million total shares of common stoc.
Analysts’ Opinion of CRBG
Many brokerage firms have already submitted their reports for CRBG stocks, with TD Cowen repeating the rating for CRBG by listing it as a “Buy.” The predicted price for CRBG in the upcoming period, according to TD Cowen is $35 based on the research report published on October 09, 2024 of the current year 2024.
Barclays, on the other hand, stated in their research note that they expect to see CRBG reach a price target of $33. The rating they have provided for CRBG stocks is “Equal Weight” according to the report published on September 05th, 2024.
Citigroup gave a rating of “Neutral” to CRBG, setting the target price at $19 in the report published on July 11th of the previous year.
CRBG Trading at 2.83% 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 -11.14% of loss for the given period.
Volatility was left at 2.48%, however, over the last 30 days, the volatility rate increased by 2.22%, as shares sank -2.13% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +14.03% upper at present.
During the last 5 trading sessions, CRBG fell by -0.55%, which changed the moving average for the period of 200-days by +30.12% in comparison to the 20-day moving average, which settled at $31.37. In addition, Corebridge Financial Inc saw 42.20% 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 30,000,000 shares at the price of $31.20 back on Nov 07 ’24. After this action, AMERICAN INTERNATIONAL GROUP, now owns 249,238,898 shares of Corebridge Financial Inc, valued at $936,000,000 using the latest closing price.
AMERICAN INTERNATIONAL GROUP, the 10% Owner of Corebridge Financial Inc, sale 5,000,000 shares at $28.86 during a trade that took place back on Sep 16 ’24, which means that AMERICAN INTERNATIONAL GROUP, is holding 279,238,898 shares at $144,300,000 based on the most recent closing price.
Stock Fundamentals for CRBG
Current profitability levels for the company are sitting at:
- -0.18 for the present operating margin
- 0.31 for the gross margin
The net margin for Corebridge Financial Inc stands at -0.09. The total capital return value is set at -0.01. Equity return is now at value -11.38, with -0.36 for asset returns.
Based on Corebridge Financial Inc (CRBG), the company’s capital structure generated 0.47 points at debt to capital in total, while cash flow to debt ratio is standing at 0.12. The debt to equity ratio resting at 0.88. The interest coverage ratio of the stock is -4.77.
Currently, EBITDA for the company is 1.47 billion with net debt to EBITDA at -8.34. When we switch over and look at the enterprise to sales, we see a ratio of 1.99. The receivables turnover for the company is 0.28for trailing twelve months and the total asset turnover is 0.04.
Conclusion
To wrap up, the performance of Corebridge Financial Inc (CRBG) has been mixed in recent times. The stock has received a mixed of “buy” and “hold” ratings from analysts. It is worth mentioning that the stock is currently trading in close proximity to its 50-day moving average and its 52-week high.
