Merit Financial Group LLC bought a new stake in Corebridge Financial, Inc. (NYSE:CRBG - Free Report) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 26,361 shares of the company's stock, valued at approximately $832,000.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Norges Bank bought a new position in Corebridge Financial during the fourth quarter worth about $283,212,000. Price T Rowe Associates Inc. MD lifted its stake 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 valued at $986,539,000 after buying an additional 7,828,929 shares in the last quarter. Wellington Management Group LLP boosted its holdings in Corebridge Financial by 4,624.2% in the 4th quarter. Wellington Management Group LLP now owns 3,707,960 shares of the company's stock worth $110,979,000 after buying an additional 3,629,472 shares during the period. Pzena Investment Management LLC grew its stake in Corebridge Financial by 222.9% in the 4th quarter. Pzena Investment Management LLC now owns 4,638,455 shares of the company's stock valued at $138,829,000 after buying an additional 3,202,145 shares in the last quarter. Finally, LSV Asset Management bought a new stake in Corebridge Financial during the 4th quarter valued at $85,786,000. 98.25% of the stock is currently owned by hedge funds and other institutional investors.
Corebridge Financial Price Performance
Shares of Corebridge Financial stock opened at $33.33 on Monday. The firm has a market capitalization of $18.32 billion, a PE ratio of 8.82, a price-to-earnings-growth ratio of 0.43 and a beta of 1.04. 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 12 month low of $23.69 and a 12 month high of $35.36. The business's 50-day moving average price is $30.22 and its 200-day moving average price is $31.30.
Corebridge Financial (NYSE:CRBG - Get Free Report) last posted its quarterly earnings results on Monday, May 5th. The company reported $1.16 EPS for the quarter, topping the consensus estimate of $1.15 by $0.01. The firm had revenue of $4.74 billion for the quarter, compared to the consensus estimate of $5.28 billion. Corebridge Financial had a net margin of 11.39% and a return on equity of 22.69%. During the same period last year, the firm posted $1.10 earnings per share. Sell-side analysts forecast that Corebridge Financial, Inc. will post 5.43 EPS for the current fiscal year.
Corebridge Financial Dividend Announcement
The business also recently announced 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 dividend on an annualized basis and a dividend yield of 2.88%. The ex-dividend date is Monday, June 16th. Corebridge Financial's dividend payout ratio (DPR) is presently 81.36%.
Analyst Ratings Changes
A number of equities analysts have recently commented on CRBG shares. Wall Street Zen raised Corebridge Financial from a "sell" rating to a "hold" rating in a report on Friday. Keefe, Bruyette & Woods upped 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. Wells Fargo & Company raised their price objective on shares of Corebridge Financial from $35.00 to $37.00 and gave the company an "overweight" rating in a research report on Wednesday, May 7th. Barclays upped their target price on shares of Corebridge Financial from $36.00 to $38.00 and gave the stock an "overweight" rating in a report on Tuesday, May 6th. Finally, Piper Sandler increased their target price on shares of Corebridge Financial from $35.00 to $38.00 and gave the stock an "overweight" rating in a research note on Wednesday, April 2nd. One analyst has rated the stock with a sell rating, three have given a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $37.00.
Check Out Our Latest Stock Report on CRBG
About Corebridge Financial
(
Free Report)
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.
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