Janus Henderson Group PLC Invests $760,000 in Corebridge Financial, Inc. (NYSE:CRBG)

Janus Henderson Group PLC purchased a new stake in Corebridge Financial, Inc. (NYSE:CRBG - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 25,400 shares of the company's stock, valued at approximately $760,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of CRBG. New York Life Investment Management LLC bought a new stake in Corebridge Financial during the fourth quarter valued at about $781,000. Raymond James Financial Inc. purchased a new stake in shares of Corebridge Financial during the fourth quarter valued at about $31,844,000. Barclays PLC grew 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 worth $10,441,000 after buying an additional 59,702 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. raised its stake in shares of Corebridge Financial by 4.3% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 504,261 shares of the company's stock worth $15,093,000 after acquiring an additional 20,783 shares in the last quarter. Finally, KBC Group NV lifted its position in Corebridge Financial by 77.9% during the fourth quarter. KBC Group NV now owns 1,222,448 shares of the company's stock valued at $36,588,000 after acquiring an additional 535,323 shares during the last quarter. Institutional investors own 98.25% of the company's stock.

Corebridge Financial Price Performance

Shares of Corebridge Financial stock traded up $0.34 during trading hours on Thursday, reaching $32.67. The stock had a trading volume of 4,029,957 shares, compared to its average volume of 3,408,301. The stock's 50 day moving average is $30.14 and its 200 day moving average is $31.21. 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 twelve month low of $23.69 and a twelve month high of $35.36. The firm has a market capitalization of $17.96 billion, a PE ratio of 8.64, a PEG ratio of 0.43 and a beta of 1.01.

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

Corebridge Financial Announces Dividend

The company 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. This represents a $0.96 annualized dividend and a dividend yield of 2.94%. The ex-dividend date of this dividend is Monday, June 16th. Corebridge Financial's payout ratio is 81.36%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on CRBG shares. Barclays upped their price target on Corebridge Financial from $36.00 to $38.00 and gave the stock an "overweight" rating in a research report on Tuesday, May 6th. UBS Group cut Corebridge Financial from a "buy" rating to a "sell" rating and decreased their price target for the company from $40.00 to $28.00 in a research note on Wednesday, April 2nd. Wall Street Zen downgraded Corebridge Financial from a "hold" rating to a "sell" rating in a report on Thursday, May 22nd. Keefe, Bruyette & Woods upped their price objective 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. Finally, 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. Two research analysts have rated the stock with a sell rating, two have given a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price 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.