Corebridge Financial, Inc. (NYSE:CRBG) Holdings Lifted by D. E. Shaw & Co. Inc.

D. E. Shaw & Co. Inc. raised its holdings in Corebridge Financial, Inc. (NYSE:CRBG - Free Report) by 693.3% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,157,112 shares of the company's stock after acquiring an additional 1,011,251 shares during the period. D. E. Shaw & Co. Inc. owned approximately 0.20% of Corebridge Financial worth $34,632,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of CRBG. Concentric Capital Strategies LP purchased a new position in shares of Corebridge Financial during the 4th quarter valued at about $1,823,000. Cetera Investment Advisers raised its holdings in shares of Corebridge Financial by 40.6% during the 4th quarter. Cetera Investment Advisers now owns 20,125 shares of the company's stock valued at $602,000 after buying an additional 5,814 shares in the last quarter. Centiva Capital LP raised its holdings in shares of Corebridge Financial by 17.9% during the 4th quarter. Centiva Capital LP now owns 69,440 shares of the company's stock valued at $2,078,000 after buying an additional 10,539 shares in the last quarter. Brevan Howard Capital Management LP purchased a new position in shares of Corebridge Financial during the 4th quarter valued at about $758,000. Finally, Bridgefront Capital LLC increased its stake in Corebridge Financial by 19.0% in the 4th quarter. Bridgefront Capital LLC now owns 17,654 shares of the company's stock worth $528,000 after purchasing an additional 2,819 shares during the period. Hedge funds and other institutional investors own 98.25% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the company. BMO Capital Markets assumed coverage on Corebridge Financial in a research note on Thursday, January 23rd. They issued an "outperform" rating and a $43.00 price target on the stock. Morgan Stanley cut their price objective on Corebridge Financial from $43.00 to $32.00 and set an "overweight" rating on the stock in a research report on Thursday, April 10th. Keefe, Bruyette & Woods lifted their price target on Corebridge Financial from $37.00 to $39.00 and gave the company an "outperform" rating in a research report on Wednesday, May 7th. Barclays lifted their price objective on Corebridge Financial from $36.00 to $38.00 and gave the company an "overweight" rating in a research note on Tuesday, May 6th. Finally, Piper Sandler upped their price objective on Corebridge Financial from $35.00 to $38.00 and gave the company an "overweight" rating in a research report on Wednesday, April 2nd. One 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 data from MarketBeat, Corebridge Financial presently has an average rating of "Moderate Buy" and an average target price of $36.62.

Corebridge Financial Price Performance

NYSE CRBG traded up $0.41 during trading on Friday, hitting $32.71. 924,297 shares of the stock traded hands, compared to its average volume of 3,142,744. The company has a market capitalization of $18.00 billion, a P/E ratio of 8.65, a price-to-earnings-growth ratio of 0.43 and a beta of 1.01. The firm has a 50-day simple moving average of $30.08 and a 200-day simple moving average of $31.16. The company has a quick ratio of 0.13, a current ratio of 0.13 and a debt-to-equity ratio of 0.16. Corebridge Financial, Inc. has a 12-month low of $23.69 and a 12-month high of $35.36.

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

Corebridge Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 16th will be paid a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 2.94%. The ex-dividend date is Monday, June 16th. Corebridge Financial's payout ratio is 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.