A better buy-in window may exist right now for Corebridge Financial Inc. (CRBG)

Corebridge Financial Inc. (NYSE: CRBG) stock jumped 1.53% on Thursday to $17.24 against a previous-day closing price of $16.98. With 2.27 million shares changed hands, the volume of the stock remained heavier than its average volume of 1.84 million shares. During the session, the Asset Management company that operates in wider Financial sector, reached to the highest price of $17.26 whereas the lowest price it dropped to was $16.68. The 52-week range on CRBG shows that it touched its highest point at $23.50 and its lowest point at $14.01 during that stretch. It currently has a 1-year price target of $24.46. With its current market cap of 11.14 billion, CRBG has annualized dividend of $0.92 while the current yield stands at 5.34%.

Price Performance and Earnings:

Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of CRBG was up-trending over the past week, with a rise of 1.77%, but this was up by 7.68% over a month. Three-month performance dropped to -15.20% while six-month performance fell -22.17%. A look at the trailing 12-month EPS for CRBG yields 6.56 with Next year EPS estimates of 4.72. For the next quarter, that number is 0.93. This implies an EPS growth rate of 10.80% for this year and 23.64% for next year.

Float and Shares Shorts:

At present, 650.80 million CRBG shares are outstanding with a float of 141.83 million shares on hand for trading. On Apr 27, 2023, short shares totaled 4.48 million, which was 0.69% higher than short shares on Mar 30, 2023. In addition to CRBU as the firm’s Caribou Biosciences, Inc., CRBP serves as its Corbus Pharmaceuticals Holdings.

Institutional Ownership:

Through their ownership of 24.52% of CRBG’s outstanding shares, institutional investors have minority control over the company. Other institutions hold 90.03% of CRBG, in contrast to 7.10% held by mutual funds. Shares owned by individuals account for 6.75%. As the largest shareholder in CRBG with 2.89% of the stake, T. Rowe Price Associates, Inc. holds 18,725,378 shares worth 18,725,378. A second-largest stockholder of CRBG, The Vanguard Group, Inc., holds 6,875,102 shares, controlling over 1.06% of the firm’s shares. Capital Research & Management Co is the third largest shareholder in CRBG, holding 6,143,519 shares or 0.95% stake. With a 0.89% stake in CRBG, the Government Pension Fund – Global is the largest stakeholder. A total of 5,753,227 shares are owned by the mutual fund manager. The Capital Income Builder, which owns about 0.62% of CRBG stock, is the second-largest Mutual Fund holder. It holds 4,000,000 shares valued at 67.44 million. T Rowe Price Value Fund holds 0.58% of the stake in CRBG, owning 3,752,391 shares worth 63.27 million.

Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for CRBG since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With CRBG analysts setting a high price target of $32.00 and a low target of $18.00, the average target price over the next 12 months is $24.31. Based on these targets, CRBG could surge 85.61% to reach the target high and rise by 4.41% to reach the target low. Reaching the average price target will result in a growth of 41.01% from current levels.

EPS: Estimates vs Actual

It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy.

Summary of Insider Activity:

Insiders traded CRBG stock several times over the past three months with 0 Buys and 15 Sells. In these transactions, 0 shares were bought while 91,408 shares were sold. The number of buy transactions has increased to 35 while that of sell transactions has risen to 30 over the past year. The total number of shares bought during that period was 2,454,489 while 80,333,739 shares were sold.