Corebridge Financial, Inc. $CRBG Shares Sold by Mitsubishi UFJ Trust & Banking Corp

Key Points

• Mitsubishi UFJ Trust trimmed its Corebridge stake by 52.4% in Q4, selling 137,166 shares and retaining 124,481 shares worth about $3.76M, while overall institutional ownership remains very high at 98.25% and large holders like Vanguard and Pzena increased positions.
• Street sentiment is a “Moderate Buy” with an average target of $35.00 (1 Strong Buy, 8 Buy, 6 Hold), and the stock recently opened at $27.53 within a 52‑week range of $22.19–$36.57.
• Corebridge beat quarterly estimates with $1.22 EPS vs. $1.11 expected and $6.34B in revenue vs. $5.02B expected, and raised its quarterly dividend to $0.25 (annualized $1.00, ~3.6% yield).

Mitsubishi UFJ Trust & Banking Corp trimmed its position in Corebridge Financial, Inc. (NYSE:CRBG - Free Report) by 52.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 124,481 shares of the company's stock after selling 137,166 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp's holdings in Corebridge Financial were worth $3,756,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of CRBG. Vanguard Group Inc. lifted its holdings in Corebridge Financial by 1.2% during the 4th quarter. Vanguard Group Inc. now owns 27,143,048 shares of the company's stock worth $818,906,000 after buying an additional 311,133 shares during the last quarter. Pzena Investment Management LLC lifted its holdings in Corebridge Financial by 19.3% during the 3rd quarter. Pzena Investment Management LLC now owns 22,329,199 shares of the company's stock worth $715,651,000 after buying an additional 3,605,498 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in Corebridge Financial by 6.9% during the 3rd quarter. Dimensional Fund Advisors LP now owns 6,686,747 shares of the company's stock worth $214,372,000 after buying an additional 430,308 shares during the last quarter. LSV Asset Management lifted its holdings in Corebridge Financial by 2.1% during the 3rd quarter. LSV Asset Management now owns 4,685,535 shares of the company's stock worth $150,171,000 after buying an additional 98,435 shares during the last quarter. Finally, Bank of America Corp DE lifted its holdings in Corebridge Financial by 42.8% during the 2nd quarter. Bank of America Corp DE now owns 2,884,599 shares of the company's stock worth $102,403,000 after buying an additional 864,946 shares during the last quarter. 98.25% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. Piper Sandler raised Corebridge Financial to a "strong-buy" rating in a report on Thursday, April 2nd. Mizuho decreased their price target on Corebridge Financial from $39.00 to $31.00 and set an "outperform" rating for the company in a report on Monday, April 13th. Barclays decreased their price target on Corebridge Financial from $33.00 to $30.00 and set an "overweight" rating for the company in a report on Wednesday, April 8th. TD Cowen decreased their price target on Corebridge Financial from $38.00 to $35.00 and set a "buy" rating for the company in a report on Tuesday, March 10th. Finally, Weiss Ratings downgraded Corebridge Financial from a "buy (b-)" rating to a "hold (c+)" rating in a report on Thursday, January 15th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat.com, Corebridge Financial currently has a consensus rating of "Moderate Buy" and an average target price of $35.00.

Corebridge Financial Stock Up 0.0%

Corebridge Financial stock opened at $27.53 on Monday. The company has a market capitalization of $13.26 billion, a P/E ratio of -51.95, a PEG ratio of 0.39 and a beta of 1.18. Corebridge Financial, Inc. has a fifty-two week low of $22.19 and a fifty-two week high of $36.57. The stock has a 50-day simple moving average of $25.28 and a 200-day simple moving average of $28.68. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.12 and a current ratio of 0.12.

Corebridge Financial (NYSE:CRBG - Get Free Report) last issued its quarterly earnings results on Wednesday, February 11th. The company reported $1.22 earnings per share (EPS) for the quarter, beating 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 quarter in the previous year, the firm posted $1.06 EPS. Equities research analysts expect that Corebridge Financial, Inc. will post 4.91 earnings per share for the current year.

Corebridge Financial Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 31st. Investors of record on Tuesday, March 17th were given a $0.25 dividend. This is a boost from Corebridge Financial's previous quarterly dividend of $0.24. The ex-dividend date was Tuesday, March 17th. This represents a $1.00 annualized dividend and a yield of 3.6%. Corebridge Financial's payout ratio is presently -188.68%.

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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