Corebridge Financial, Inc. (NYSE:CRBG) Shares Acquired by Dimensional Fund Advisors LP

Dimensional Fund Advisors LP grew its holdings in shares of Corebridge Financial, Inc. (NYSE:CRBG - Free Report) by 16.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,457,441 shares of the company's stock after purchasing an additional 770,255 shares during the period. Dimensional Fund Advisors LP owned about 0.96% of Corebridge Financial worth $163,344,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the business. Virtu Financial LLC acquired a new stake in Corebridge Financial in the 3rd quarter valued at about $581,000. New York Life Investment Management LLC purchased a new position in Corebridge Financial in the fourth quarter worth approximately $781,000. First Hawaiian Bank acquired a new position in Corebridge Financial during the 4th quarter worth approximately $1,168,000. Raymond James Financial Inc. acquired a new position in Corebridge Financial during the 4th quarter worth approximately $31,844,000. Finally, Barclays PLC increased its position in shares of Corebridge Financial by 20.0% in the 3rd quarter. Barclays PLC now owns 358,035 shares of the company's stock valued at $10,441,000 after purchasing an additional 59,702 shares during the last quarter. Institutional investors and hedge funds own 98.25% of the company's stock.

Corebridge Financial Trading Down 2.4 %

Shares of Corebridge Financial stock traded down $0.74 during trading hours on Wednesday, reaching $29.61. 3,244,342 shares of the company's stock were exchanged, compared to its average volume of 3,554,385. The firm has a market capitalization of $16.36 billion, a price-to-earnings ratio of 7.83, a price-to-earnings-growth ratio of 0.43 and a beta of 0.98. 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, Inc. has a 52-week low of $23.69 and a 52-week high of $35.36. The company has a fifty day moving average of $30.37 and a 200-day moving average of $31.15.

Corebridge Financial (NYSE:CRBG - Get Free Report) last released its earnings results on Wednesday, February 12th. The company reported $1.23 earnings per share (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%. Sell-side analysts forecast 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. Stockholders of record on Monday, March 17th were paid a $0.24 dividend. This is a positive change from Corebridge Financial's previous quarterly dividend of $0.23. This represents a $0.96 annualized dividend and a dividend yield of 3.24%. The ex-dividend date was Monday, March 17th. Corebridge Financial's payout ratio is currently 25.40%.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on CRBG shares. Piper Sandler boosted their target price on shares of Corebridge Financial from $35.00 to $38.00 and gave the stock an "overweight" rating in a research note on Wednesday, April 2nd. Morgan Stanley lowered their price objective on Corebridge Financial from $43.00 to $32.00 and set an "overweight" rating for the company in a research report on Thursday, April 10th. BMO Capital Markets began coverage on Corebridge Financial in a research report on Thursday, January 23rd. They set an "outperform" rating and a $43.00 target price on the stock. UBS Group downgraded Corebridge Financial from a "buy" rating to a "sell" rating and lowered their price target for the company from $40.00 to $28.00 in a report on Wednesday, April 2nd. Finally, Wells Fargo & Company dropped their price objective on Corebridge Financial from $38.00 to $35.00 and set an "overweight" rating on the stock in a report on Thursday, April 10th. One equities 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 company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $36.15.

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.