Barclays PLC Purchases 484,515 Shares of Corebridge Financial, Inc. (NYSE:CRBG)

Barclays PLC increased its position in Corebridge Financial, Inc. (NYSE:CRBG - Free Report) by 135.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 842,550 shares of the company's stock after buying an additional 484,515 shares during the quarter. Barclays PLC owned about 0.15% of Corebridge Financial worth $25,217,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of CRBG. Nippon Life Insurance Co. acquired a new stake in shares of Corebridge Financial during the fourth quarter worth approximately $3,650,151,000. Vanguard Group Inc. increased its position in Corebridge Financial by 3.1% during the fourth quarter. Vanguard Group Inc. now owns 23,925,256 shares of the company's stock worth $716,083,000 after acquiring an additional 711,857 shares during the period. Norges Bank bought a new stake in Corebridge Financial in the 4th quarter valued at $283,212,000. Clearbridge Investments LLC increased its holdings in Corebridge Financial by 23.3% in the 4th quarter. Clearbridge Investments LLC now owns 5,305,120 shares of the company's stock valued at $158,782,000 after buying an additional 1,001,848 shares during the period. Finally, Pzena Investment Management LLC boosted its stake in shares of Corebridge Financial by 222.9% in the 4th quarter. Pzena Investment Management LLC now owns 4,638,455 shares of the company's stock valued at $138,829,000 after purchasing an additional 3,202,145 shares in the last quarter. 98.25% of the stock is owned by institutional investors and hedge funds.

Corebridge Financial Stock Up 2.1 %

NYSE:CRBG traded up $0.62 on Thursday, hitting $29.66. The stock had a trading volume of 985,532 shares, compared to its average volume of 3,124,026. The business's fifty day moving average is $30.72 and its 200 day moving average is $31.16. Corebridge Financial, Inc. has a 52 week low of $23.69 and a 52 week high of $35.36. The company has a quick ratio of 0.13, a current ratio of 0.13 and a debt-to-equity ratio of 0.16. The company has a market cap of $16.49 billion, a PE ratio of 7.85, a P/E/G ratio of 0.43 and a beta of 0.98.

Corebridge Financial (NYSE:CRBG - Get Free Report) last announced its quarterly earnings results on Wednesday, February 12th. The company reported $1.23 EPS for the quarter, missing analysts' consensus estimates of $1.27 by ($0.04). Corebridge Financial had a net margin of 11.39% and a return on equity of 22.69%. On average, equities research analysts expect that Corebridge Financial, Inc. will post 5.43 EPS for the current fiscal year.

Corebridge Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 17th were given a $0.24 dividend. The ex-dividend date of this dividend was Monday, March 17th. This represents a $0.96 annualized dividend and a yield of 3.24%. This is a boost from Corebridge Financial's previous quarterly dividend of $0.23. Corebridge Financial's payout ratio is currently 25.40%.

Analysts Set New Price Targets

CRBG has been the topic of several recent analyst reports. Wells Fargo & Company reduced their target price on shares of Corebridge Financial from $38.00 to $35.00 and set an "overweight" rating on the stock in a research note on Thursday, April 10th. Morgan Stanley lowered their target price on shares of Corebridge Financial from $43.00 to $32.00 and set an "overweight" rating for the company in a report on Thursday, April 10th. Deutsche Bank Aktiengesellschaft raised shares of Corebridge Financial from a "hold" rating to a "buy" rating and boosted their price target for the company from $33.00 to $40.00 in a report on Friday, January 10th. UBS Group cut shares of 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 research report on Wednesday, April 2nd. Finally, Keefe, Bruyette & Woods reduced their price objective on Corebridge Financial from $40.00 to $37.00 and set an "outperform" rating for the company in a report on Wednesday, April 9th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $36.15.

About Corebridge Financial

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.