MGO One Seven LLC Buys Shares of 29,490 Corebridge Financial, Inc. (NYSE:CRBG)

MGO One Seven LLC acquired a new stake in shares of Corebridge Financial, Inc. (NYSE:CRBG - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 29,490 shares of the company's stock, valued at approximately $883,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD raised its position in shares of Corebridge Financial by 31.2% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 32,961,533 shares of the company's stock worth $986,539,000 after purchasing an additional 7,828,929 shares during the period. MetLife Investment Management LLC lifted its position in Corebridge Financial by 16.0% in the 4th quarter. MetLife Investment Management LLC now owns 5,193 shares of the company's stock worth $155,000 after buying an additional 715 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Corebridge Financial by 16.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 5,457,441 shares of the company's stock valued at $163,344,000 after acquiring an additional 770,255 shares in the last quarter. First Trust Advisors LP boosted its position in Corebridge Financial by 26.6% during the fourth quarter. First Trust Advisors LP now owns 4,182,819 shares of the company's stock valued at $125,192,000 after purchasing an additional 877,980 shares during the last quarter. Finally, Forum Financial Management LP raised its stake in shares of Corebridge Financial by 60.2% during the 4th quarter. Forum Financial Management LP now owns 15,730 shares of the company's stock worth $471,000 after purchasing an additional 5,912 shares in the last quarter. Institutional investors own 98.25% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have commented on CRBG. Deutsche Bank Aktiengesellschaft upgraded Corebridge Financial from a "hold" rating to a "buy" rating and increased their price target for the company from $33.00 to $40.00 in a report on Friday, January 10th. Wells Fargo & Company decreased their price target on shares of Corebridge Financial from $38.00 to $35.00 and set an "overweight" rating for the company in a report on Thursday, April 10th. Barclays cut their price objective on Corebridge Financial from $37.00 to $36.00 and set an "overweight" rating for the company in a research report on Friday, April 11th. Morgan Stanley lowered their target price on Corebridge Financial from $43.00 to $32.00 and set an "overweight" rating on the stock in a report on Thursday, April 10th. Finally, UBS Group lowered Corebridge Financial from a "buy" rating to a "sell" rating and cut their price target for the stock from $40.00 to $28.00 in a report on Wednesday, April 2nd. One research analyst has rated the stock with a sell rating, two have given a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $36.15.

Corebridge Financial Price Performance

Shares of CRBG stock traded up $0.60 during trading hours on Friday, hitting $30.55. The company had a trading volume of 979,924 shares, compared to its average volume of 3,537,932. Corebridge Financial, Inc. has a 12 month low of $23.69 and a 12 month high of $35.36. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.13 and a current ratio of 0.13. The firm's fifty day moving average is $30.31 and its 200 day moving average is $31.15. The firm has a market capitalization of $16.87 billion, a price-to-earnings ratio of 8.09, a PEG ratio of 0.43 and a beta of 0.98.

Corebridge Financial (NYSE:CRBG - Get Free Report) last released its quarterly earnings data on Wednesday, February 12th. The company reported $1.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.27 by ($0.04). Corebridge Financial had a return on equity of 22.69% and a net margin of 11.39%. On average, sell-side analysts predict that Corebridge Financial, Inc. will post 5.43 EPS for the current fiscal year.

Corebridge Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 17th were paid a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 3.14%. This is a boost from Corebridge Financial's previous quarterly dividend of $0.23. The ex-dividend date was Monday, March 17th. Corebridge Financial's dividend payout ratio is currently 25.40%.

Corebridge Financial Company Profile

Corebridge Financial, Inc provides retirement solutions and insurance products in the United States. The company operates through Individual Retirement, Group Retirement, Life Insurance, and Institutional Markets segments. The Individual Retirement segment provides fixed annuities, fixed index annuities, variable annuities, and retail mutual funds.