Chesley Taft & Associates LLC Buys Shares of 13,820 Corebridge Financial, Inc. (NYSE:CRBG)

Chesley Taft & Associates LLC bought a new stake in Corebridge Financial, Inc. (NYSE:CRBG - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 13,820 shares of the company's stock, valued at approximately $436,000.

Several other institutional investors and hedge funds have also recently modified their holdings of CRBG. Price T Rowe Associates Inc. MD lifted its position in shares of 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 worth $986,539,000 after buying an additional 7,828,929 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of Corebridge Financial by 3.1% in the fourth quarter. Vanguard Group Inc. now owns 23,925,256 shares of the company's stock valued at $716,083,000 after acquiring an additional 711,857 shares in the last quarter. Norges Bank acquired a new position in Corebridge Financial during the 4th quarter worth approximately $283,212,000. AQR Capital Management LLC raised its position in Corebridge Financial by 10.5% in the fourth quarter. AQR Capital Management LLC now owns 5,556,761 shares of the company's stock worth $166,314,000 after acquiring an additional 527,376 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in shares of Corebridge Financial by 16.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 5,457,441 shares of the company's stock valued at $163,344,000 after purchasing an additional 770,255 shares during the period. Hedge funds and other institutional investors own 98.25% of the company's stock.

Corebridge Financial Trading Down 0.1%

Shares of Corebridge Financial stock traded down $0.04 during trading on Monday, reaching $33.26. 2,061,944 shares of the company were exchanged, compared to its average volume of 3,284,853. The company has a quick ratio of 0.13, a current ratio of 0.13 and a debt-to-equity ratio of 0.16. The firm has a market capitalization of $18.28 billion, a price-to-earnings ratio of 8.80, a P/E/G ratio of 0.43 and a beta of 1.04. The business has a 50-day moving average price of $30.22 and a 200-day moving average price of $31.30. Corebridge Financial, Inc. has a twelve month low of $23.69 and a twelve month high of $35.36.

Corebridge Financial (NYSE:CRBG - Get Free Report) last announced its earnings results on Monday, May 5th. The company reported $1.16 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.15 by $0.01. The business had revenue of $4.74 billion for the quarter, compared to analyst estimates 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 firm earned $1.10 EPS. Sell-side analysts anticipate that Corebridge Financial, Inc. will post 5.43 EPS for the current fiscal year.

Corebridge Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 16th will be issued a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.89%. The ex-dividend date is Monday, June 16th. Corebridge Financial's dividend payout ratio is presently 81.36%.

Wall Street Analysts Forecast Growth

CRBG has been the subject of several research reports. UBS Group downgraded Corebridge Financial from a "buy" rating to a "sell" rating and cut their price objective for the stock from $40.00 to $28.00 in a research report on Wednesday, April 2nd. Keefe, Bruyette & Woods lifted their price target on shares of Corebridge Financial from $37.00 to $39.00 and gave the company an "outperform" rating in a report on Wednesday, May 7th. Wells Fargo & Company increased their target price on shares of Corebridge Financial from $35.00 to $37.00 and gave the stock an "overweight" rating in a research report on Wednesday, May 7th. Morgan Stanley increased their price objective on shares of Corebridge Financial from $32.00 to $37.00 and gave the company an "overweight" rating in a research report on Monday, May 19th. Finally, Barclays upped their target price on Corebridge Financial from $36.00 to $38.00 and gave the company an "overweight" rating in a research report on Tuesday, May 6th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and eleven have assigned a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $37.00.

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.