Deutsche Bank AG Increases Position in Corebridge Financial, Inc. (NYSE:CRBG)

Deutsche Bank AG boosted its stake in Corebridge Financial, Inc. (NYSE:CRBG - Free Report) by 9.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 322,363 shares of the company's stock after acquiring an additional 26,512 shares during the period. Deutsche Bank AG owned about 0.06% of Corebridge Financial worth $9,648,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of CRBG. Smartleaf Asset Management LLC increased its position in Corebridge Financial by 112.4% in the 4th quarter. Smartleaf Asset Management LLC now owns 907 shares of the company's stock valued at $27,000 after acquiring an additional 480 shares during the period. Oarsman Capital Inc. acquired a new position in Corebridge Financial in the 4th quarter valued at about $30,000. Blue Trust Inc. increased its position in Corebridge Financial by 183.2% in the 4th quarter. Blue Trust Inc. now owns 1,127 shares of the company's stock valued at $33,000 after acquiring an additional 729 shares during the period. Whittier Trust Co. of Nevada Inc. increased its position in Corebridge Financial by 58.4% in the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 1,147 shares of the company's stock valued at $34,000 after acquiring an additional 423 shares during the period. Finally, EverSource Wealth Advisors LLC increased its position in Corebridge Financial by 25.1% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,642 shares of the company's stock valued at $49,000 after acquiring an additional 329 shares during the period. 98.25% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

CRBG has been the topic of several recent research reports. Wells Fargo & Company boosted their price target on Corebridge Financial from $35.00 to $37.00 and gave the company an "overweight" rating in a research report on Wednesday, May 7th. BMO Capital Markets assumed coverage on shares of Corebridge Financial in a research note on Thursday, January 23rd. They set an "outperform" rating and a $43.00 price target on the stock. Morgan Stanley boosted their price target on shares of Corebridge Financial from $32.00 to $37.00 and gave the stock an "overweight" rating in a research note on Monday. Keefe, Bruyette & Woods boosted their price target on shares of Corebridge Financial from $37.00 to $39.00 and gave the stock an "outperform" rating in a research note on Wednesday, May 7th. Finally, UBS Group lowered shares of Corebridge Financial from a "buy" rating to a "sell" rating and dropped their price target for the stock from $40.00 to $28.00 in a research note on Wednesday, April 2nd. One research analyst has rated the stock with a sell rating, two have issued a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $37.00.

Corebridge Financial Price Performance

Shares of NYSE CRBG traded up $0.05 on Tuesday, hitting $32.94. The company's stock had a trading volume of 3,478,392 shares, compared to its average volume of 3,409,160. Corebridge Financial, Inc. has a 12-month low of $23.69 and a 12-month high of $35.36. The company has a market capitalization of $18.11 billion, a price-to-earnings ratio of 8.71, a price-to-earnings-growth ratio of 0.43 and a beta of 1.01. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.13 and a quick ratio of 0.13. The stock has a 50 day moving average of $30.14 and a 200-day moving average of $31.16.

Corebridge Financial (NYSE:CRBG - Get Free Report) last announced its quarterly earnings results on Monday, May 5th. The company reported $1.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.15 by $0.01. Corebridge Financial had a net margin of 11.39% and a return on equity of 22.69%. The company had revenue of $4.74 billion for the quarter, compared to the consensus estimate of $5.28 billion. During the same quarter in the prior year, the firm earned $1.10 earnings per share. As a group, research analysts predict that Corebridge Financial, Inc. will post 5.43 EPS for the current year.

Corebridge Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 16th will be issued a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 2.91%. The ex-dividend date is Monday, June 16th. Corebridge Financial's dividend payout ratio (DPR) is presently 81.36%.

Corebridge Financial 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.