Corebridge Financial Inc. (CRBG): The Latest Casualty Of Increased Volatility?

Corebridge Financial Inc. (NYSE:CRBG) does about 4.79M shares in volume on a normal day but saw 2667321 shares change hands in Monday’s trading. The company now has a market cap of 17.74B USD. Its current market price is $29.01, marking a decrease of -1.83% compared to the previous close of $29.55. The 52 week high reached by this stock is $30.98 whilst the lowest price level in 52 weeks is $14.67.

Corebridge Financial Inc. (CRBG) has a 20-day trading average at $27.88 and the current price is -6.36% off the 52-week high compared with 97.78% distance from its 52-week low. The 50-day simple moving average of the closing price is $27.15 and its 200-day simple moving average is $22.52. If we look at the stock’s price movements over the week, volatility stands at 3.29%, which decreases to 2.83% 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 57.51 to suggest the stock is neutral.

The consensus objective for the share price is $32.50, suggesting that the stock has a potential upside of 10.74% over the period.

The company shares received a number of brokerage firm price updates over the past month, with the latest being on July 11, 2023 when Citigroup resumed the stock to “Neutral” and issued a price target of between $18 and $19. Citigroup resumed its price target at $24-$18.

Corebridge Financial Inc. (CRBG) stock is down -0.72% over the week and 8.33% over the past month. Its price is 33.93% year-to-date and 90.92% over the past year.

The stock last released its quarterly earnings report for quarter ended 12/31/2023, with the company’s earnings per share (EPS) of 0.97 above consensus estimates by 0.12. The company’s next earnings report forecasts estimating quarterly EPS at 1.05 and 4.92 for whole year. Expected sales for next quarter are $5.81B, which analysts say will come at $23.68B for the current fiscal year and next year at $24.79B.

To reach the target analysts have set, the stock logically needs to grow 10.74 percent from here.

The company has a return on investment of 10.51% and return on equity of 21.11%. The price to earnings ratio (P/E ratio) amounts to 7.64 while the forward price to earnings ratio is 4.97. The beta has a value of 1.01. Price to book ratio is 1.54 and price to sales ratio is 0.85.