Renaissance Capital LLC Has $12.93 Million Stock Position in Corebridge Financial, Inc. (NYSE:CRBG)

Renaissance Capital LLC lifted its holdings in shares of Corebridge Financial, Inc. (NYSE:CRBG - Free Report) by 73.8% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 409,659 shares of the company's stock after buying an additional 173,995 shares during the period. Corebridge Financial accounts for approximately 10.0% of Renaissance Capital LLC's holdings, making the stock its 2nd biggest position. Renaissance Capital LLC owned 0.07% of Corebridge Financial worth $12,933,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of CRBG. Smartleaf Asset Management LLC grew its position in shares of Corebridge Financial by 112.4% during the 4th 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 last quarter. Oarsman Capital Inc. bought a new stake in shares of Corebridge Financial during the 4th quarter valued at about $30,000. Sunbelt Securities Inc. bought a new stake in shares of Corebridge Financial during the 4th quarter valued at about $30,000. Blue Trust Inc. grew its position in shares of Corebridge Financial by 183.2% during the 4th quarter. Blue Trust Inc. now owns 1,127 shares of the company's stock valued at $33,000 after buying an additional 729 shares during the last quarter. Finally, Whittier Trust Co. of Nevada Inc. grew its position in shares of Corebridge Financial by 58.4% during the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 1,147 shares of the company's stock valued at $34,000 after buying an additional 423 shares during the last quarter. Institutional investors own 98.25% of the company's stock.

Corebridge Financial Stock Down 0.4%

Corebridge Financial stock traded down $0.14 during trading hours on Tuesday, hitting $33.13. The company had a trading volume of 2,047,629 shares, compared to its average volume of 3,279,960. The firm has a market capitalization of $18.21 billion, a P/E ratio of 8.76, a price-to-earnings-growth ratio of 0.43 and a beta of 1.04. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.13 and a quick ratio of 0.13. The firm's fifty day moving average is $30.34 and its 200-day moving average is $31.33. Corebridge Financial, Inc. has a fifty-two week low of $23.69 and a fifty-two week high of $35.36.

Corebridge Financial (NYSE:CRBG - Get Free Report) last announced 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. 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 for the quarter, compared to analyst estimates of $5.28 billion. During the same quarter in the prior year, the business posted $1.10 EPS. On average, research analysts forecast that Corebridge Financial, Inc. will post 5.43 earnings per share for the current year.

Corebridge Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 16th will be paid a dividend of $0.24 per share. The ex-dividend date is Monday, June 16th. This represents a $0.96 annualized dividend and a dividend yield of 2.90%. Corebridge Financial's dividend payout ratio (DPR) is 81.36%.

Analysts Set New Price Targets

A number of brokerages recently weighed in on CRBG. Wells Fargo & Company boosted 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. Keefe, Bruyette & Woods boosted their target price on shares of Corebridge Financial from $37.00 to $39.00 and gave the company an "outperform" rating in a research note on Wednesday, May 7th. Wall Street Zen raised shares of Corebridge Financial from a "sell" rating to a "hold" rating in a research note on Friday. Barclays boosted 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. Finally, Morgan Stanley boosted their target price on shares of Corebridge Financial from $32.00 to $37.00 and gave the company an "overweight" rating in a research note on Monday, May 19th. One analyst has rated the stock with a sell rating, three have given a hold rating and eleven have issued a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average 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.