D. E. Shaw & Co. Inc. Has $34.63 Million Holdings in Corebridge Financial, Inc. (NYSE:CRBG)

D. E. Shaw & Co. Inc. increased its holdings in Corebridge Financial, Inc. (NYSE:CRBG - Free Report) by 693.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,157,112 shares of the company's stock after acquiring an additional 1,011,251 shares during the quarter. D. E. Shaw & Co. Inc. owned about 0.20% of Corebridge Financial worth $34,632,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently bought and sold shares of CRBG. Nippon Life Insurance Co. bought a new position in shares of Corebridge Financial in the 4th quarter worth approximately $3,650,151,000. Price T Rowe Associates Inc. MD lifted its position in Corebridge Financial by 31.2% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 32,961,533 shares of the company's stock valued at $986,539,000 after acquiring an additional 7,828,929 shares during the period. Vanguard Group Inc. increased its stake in shares of Corebridge Financial by 3.1% during the fourth quarter. Vanguard Group Inc. now owns 23,925,256 shares of the company's stock valued at $716,083,000 after purchasing an additional 711,857 shares in the last quarter. Norges Bank bought a new position in shares of Corebridge Financial during the fourth quarter valued at approximately $283,212,000. Finally, AQR Capital Management LLC increased its stake in shares of Corebridge Financial by 10.5% during the fourth quarter. AQR Capital Management LLC now owns 5,556,761 shares of the company's stock valued at $166,314,000 after purchasing an additional 527,376 shares in the last quarter. 98.25% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on CRBG shares. Wells Fargo & Company lifted their price objective on Corebridge Financial from $35.00 to $37.00 and gave the stock an "overweight" rating in a report on Wednesday, May 7th. BMO Capital Markets assumed coverage on Corebridge Financial in a report on Thursday, January 23rd. They issued an "outperform" rating and a $43.00 price target on the stock. UBS Group downgraded Corebridge Financial from a "buy" rating to a "sell" rating and reduced their price objective for the stock from $40.00 to $28.00 in a research note on Wednesday, April 2nd. Piper Sandler lifted their target price on Corebridge Financial from $35.00 to $38.00 and gave the stock an "overweight" rating in a research report on Wednesday, April 2nd. Finally, Barclays upped their target price on Corebridge Financial from $36.00 to $38.00 and gave the stock an "overweight" rating in a report on Tuesday, May 6th. One analyst has rated the stock with a sell rating, two have issued a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $36.62.

Corebridge Financial Price Performance

Shares of CRBG stock traded down $0.45 during mid-day trading on Wednesday, reaching $32.34. The stock had a trading volume of 10,035,267 shares, compared to its average volume of 3,514,458. The company has a market cap of $17.80 billion, a P/E ratio of 8.56, a price-to-earnings-growth ratio of 0.43 and a beta of 1.01. The business has a 50-day simple moving average of $30.04 and a 200 day simple moving average of $31.15. 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 earnings results on Monday, May 5th. The company reported $1.16 EPS for the quarter, beating the consensus estimate of $1.15 by $0.01. The business had revenue of $4.74 billion for the quarter, compared to the consensus estimate of $5.28 billion. Corebridge Financial had a return on equity of 22.69% and a net margin of 11.39%. During the same period last year, the business posted $1.10 EPS. On average, sell-side analysts anticipate that Corebridge Financial, Inc. will post 5.43 earnings per share for the current year.

Corebridge Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 16th will be paid a dividend of $0.24 per share. The ex-dividend date of this dividend is Monday, June 16th. This represents a $0.96 dividend on an annualized basis and a yield of 2.97%. Corebridge Financial's dividend payout ratio (DPR) is presently 81.36%.

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.