Envestnet Asset Management Inc. Buys 101,506 Shares of Corebridge Financial, Inc. (NYSE:CRBG)

Envestnet Asset Management Inc. lifted its position in Corebridge Financial, Inc. (NYSE:CRBG - Free Report) by 29.5% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 445,258 shares of the company's stock after purchasing an additional 101,506 shares during the period. Envestnet Asset Management Inc. owned about 0.08% of Corebridge Financial worth $13,327,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. Fortitude Family Office LLC bought a new stake in shares of Corebridge Financial in the 4th quarter worth approximately $27,000. Smartleaf Asset Management LLC lifted its stake in Corebridge Financial by 112.4% in the fourth quarter. Smartleaf Asset Management LLC now owns 907 shares of the company's stock worth $27,000 after acquiring an additional 480 shares during the period. FNY Investment Advisers LLC purchased a new stake in Corebridge Financial in the fourth quarter worth $27,000. Oarsman Capital Inc. purchased a new position in Corebridge Financial during the 4th quarter valued at $30,000. Finally, Blue Trust Inc. raised its holdings in Corebridge Financial by 183.2% in the 4th quarter. Blue Trust Inc. now owns 1,127 shares of the company's stock worth $33,000 after purchasing an additional 729 shares in the last quarter. 98.25% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have recently weighed in on CRBG. Barclays cut their target price on shares of Corebridge Financial from $37.00 to $36.00 and set an "overweight" rating on the stock in a research note on Friday, April 11th. UBS Group downgraded Corebridge Financial from a "buy" rating to a "sell" rating and reduced their target price for the stock from $40.00 to $28.00 in a report on Wednesday, April 2nd. Keefe, Bruyette & Woods lowered their target price on Corebridge Financial from $40.00 to $37.00 and set an "outperform" rating for the company in a research note on Wednesday, April 9th. Wells Fargo & Company reduced their price target on Corebridge Financial from $38.00 to $35.00 and set an "overweight" rating on the stock in a research note on Thursday, April 10th. Finally, Morgan Stanley decreased their price objective on Corebridge Financial from $43.00 to $32.00 and set an "overweight" rating for the company in a report on Thursday, April 10th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $36.15.

Corebridge Financial Stock Up 4.6 %

NYSE:CRBG traded up $1.23 on Tuesday, reaching $28.22. 2,105,635 shares of the stock traded hands, compared to its average volume of 3,569,551. The company's fifty day simple moving average is $30.80 and its 200 day simple moving average is $31.17. The company has a market capitalization of $15.69 billion, a price-to-earnings ratio of 7.47, a PEG ratio of 0.43 and a beta of 0.98. Corebridge Financial, Inc. has a 12 month low of $23.69 and a 12 month high of $35.36. The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 0.16.

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

Corebridge Financial Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 17th were issued a dividend of $0.24 per share. This is an increase from Corebridge Financial's previous quarterly dividend of $0.23. This represents a $0.96 dividend on an annualized basis and a dividend yield of 3.40%. The ex-dividend date of this dividend was Monday, March 17th. Corebridge Financial's dividend payout ratio is presently 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.