Raiffeisen Bank International AG Purchases New Shares in Corebridge Financial, Inc. (NYSE:CRBG)

Raiffeisen Bank International AG acquired a new stake in Corebridge Financial, Inc. (NYSE:CRBG - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 19,607 shares of the company's stock, valued at approximately $588,000.

Several other hedge funds also recently modified their holdings of CRBG. Smartleaf Asset Management LLC lifted its stake in shares of Corebridge Financial by 112.4% in the fourth quarter. Smartleaf Asset Management LLC now owns 907 shares of the company's stock valued at $27,000 after buying an additional 480 shares during the period. Oarsman Capital Inc. acquired a new position in Corebridge Financial in the 4th quarter valued at approximately $30,000. 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 valued at $33,000 after acquiring an additional 729 shares in the last quarter. Whittier Trust Co. of Nevada Inc. lifted its position in shares of Corebridge Financial by 58.4% in the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 1,147 shares of the company's stock worth $34,000 after acquiring an additional 423 shares during the period. Finally, EverSource Wealth Advisors LLC grew its holdings in shares of Corebridge Financial by 25.1% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,642 shares of the company's stock worth $49,000 after purchasing an additional 329 shares in the last quarter. 98.25% of the stock is owned by institutional investors.

Corebridge Financial Price Performance

CRBG stock traded down $0.02 during trading on Friday, hitting $31.63. 657,929 shares of the stock traded hands, compared to its average volume of 3,147,748. Corebridge Financial, Inc. has a one year low of $23.69 and a one year high of $35.36. The stock has a market cap of $17.39 billion, a price-to-earnings ratio of 8.37, a P/E/G ratio of 0.43 and a beta of 1.01. The company has a 50 day simple moving average of $30.17 and a 200 day simple moving average of $31.18. 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 posted its quarterly earnings data on Monday, May 5th. The company reported $1.16 earnings per share for the quarter, topping the consensus estimate of $1.15 by $0.01. Corebridge Financial had a net margin of 11.39% and a return on equity of 22.69%. The company had revenue of $4.74 billion during the quarter, compared to analyst estimates of $5.28 billion. During the same quarter last year, the business posted $1.10 earnings per share. Equities analysts expect that Corebridge Financial, Inc. will post 5.43 EPS for the current fiscal year.

Corebridge Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 16th will be given 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 3.04%. Corebridge Financial's dividend payout ratio (DPR) is presently 81.36%.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on CRBG. Morgan Stanley boosted their price objective on Corebridge Financial from $32.00 to $37.00 and gave the company an "overweight" rating in a research report on Monday. Wells Fargo & Company boosted their price target on shares of Corebridge Financial from $35.00 to $37.00 and gave the company an "overweight" rating in a report on Wednesday, May 7th. UBS Group cut shares of Corebridge Financial from a "buy" rating to a "sell" rating and dropped their price objective for the company from $40.00 to $28.00 in a research note on Wednesday, April 2nd. Wall Street Zen downgraded shares of Corebridge Financial from a "hold" rating to a "sell" rating in a report on Thursday. Finally, Barclays upped their target price on shares of Corebridge Financial from $36.00 to $38.00 and gave the company an "overweight" rating in a research note on Tuesday, May 6th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and eleven have issued a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $37.00.

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.