Corebridge Financial, Inc. $CRBG Shares Acquired by Dimensional Fund Advisors LP

Key Points

• Dimensional Fund Advisors increased its stake in Corebridge by 6.9% to 6,686,747 shares (about 1.28% ownership, ~$214.4M), while Vanguard also boosted holdings to 26,831,915 shares (~$860M); institutional investors own roughly 98.25% of the stock.
• Corebridge beat Q4 expectations with EPS of $1.22 (consensus $1.11) and revenue of $6.34B (consensus $5.02B), but the company still reports a negative net margin (‑1.73%) and a negative P/E of about ‑47.9.
• The board raised the quarterly dividend to $0.25 (annualized $1.00, yield ~3.9%, ex-dividend March 17), while analysts’ views are mixed—MarketBeat shows an average "Hold" rating and a $37.40 target amid several recent price-target cuts.

Dimensional Fund Advisors LP increased its position in Corebridge Financial, Inc. (NYSE:CRBG - Free Report) by 6.9% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,686,747 shares of the company's stock after purchasing an additional 430,308 shares during the quarter. Dimensional Fund Advisors LP owned 1.28% of Corebridge Financial worth $214,372,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in Corebridge Financial by 7.2% in the third quarter. Vanguard Group Inc. now owns 26,831,915 shares of the company's stock valued at $859,963,000 after purchasing an additional 1,805,819 shares during the last quarter. Algebris UK Ltd. increased its holdings in Corebridge Financial by 31.4% during the 3rd quarter. Algebris UK Ltd. now owns 1,393,378 shares of the company's stock worth $44,624,000 after purchasing an additional 333,245 shares during the last quarter. Machina Capital S.A.S. acquired a new position in shares of Corebridge Financial in the 3rd quarter valued at approximately $1,182,000. Assenagon Asset Management S.A. raised its position in shares of Corebridge Financial by 928.9% in the 3rd quarter. Assenagon Asset Management S.A. now owns 68,226 shares of the company's stock valued at $2,187,000 after purchasing an additional 61,595 shares in the last quarter. Finally, Retirement Systems of Alabama boosted its stake in shares of Corebridge Financial by 77.9% during the 3rd quarter. Retirement Systems of Alabama now owns 132,900 shares of the company's stock valued at $4,259,000 after buying an additional 58,200 shares during the last quarter. 98.25% of the stock is owned by institutional investors and hedge funds.

Corebridge Financial Price Performance

Shares of NYSE CRBG opened at $25.37 on Friday. The company has a current ratio of 0.12, a quick ratio of 0.12 and a debt-to-equity ratio of 0.11. The company has a market capitalization of $12.22 billion, a price-to-earnings ratio of -47.87, a price-to-earnings-growth ratio of 0.36 and a beta of 1.11. Corebridge Financial, Inc. has a twelve month low of $23.69 and a twelve month high of $36.57. The business has a 50 day simple moving average of $29.75 and a 200-day simple moving average of $30.99.

Corebridge Financial (NYSE:CRBG - Get Free Report) last announced its quarterly earnings data on Monday, February 9th. The company reported $1.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.11 by $0.11. The firm had revenue of $6.34 billion for the quarter, compared to analysts' expectations of $5.02 billion. Corebridge Financial had a positive return on equity of 18.92% and a negative net margin of 1.73%.During the same period last year, the business posted $1.06 earnings per share. As a group, equities research analysts expect that Corebridge Financial, Inc. will post 5.43 earnings per share for the current year.

Corebridge Financial Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Tuesday, March 17th will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.9%. The ex-dividend date is Tuesday, March 17th. This is an increase from Corebridge Financial's previous quarterly dividend of $0.24. Corebridge Financial's payout ratio is -181.13%.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the stock. Morgan Stanley dropped their price target on shares of Corebridge Financial from $35.00 to $32.00 and set an "equal weight" rating for the company in a research note on Tuesday, March 3rd. Barclays reduced their price objective on shares of Corebridge Financial from $35.00 to $34.00 and set an "overweight" rating on the stock in a research note on Tuesday, February 10th. Wells Fargo & Company decreased their price objective on shares of Corebridge Financial from $37.00 to $36.00 and set an "overweight" rating for the company in a report on Wednesday, February 25th. Mizuho started coverage on shares of Corebridge Financial in a research report on Tuesday, December 16th. They issued an "outperform" rating and a $38.00 target price for the company. Finally, Zacks Research lowered shares of Corebridge Financial from a "hold" rating to a "strong sell" rating in a research note on Tuesday, January 27th. Seven investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $37.40.

About Corebridge Financial

Corebridge Financial NYSE: CRBG is a publicly traded provider of retirement, life insurance and asset management solutions. Formed from the separation of American International Group’s life and retirement operations, Corebridge focuses on helping individuals, employers and institutions manage retirement income, protect against longevity and mortality risks, and invest long-term savings. The company operates under a unified brand that brings together insurance products and investment capabilities to deliver integrated financial solutions.

Corebridge’s product suite includes retirement income and annuity products, individual and group life insurance, asset management and investment advisory services, and employer-sponsored retirement plan offerings.

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