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Corebridge Financial, Inc. (NYSE:CRBG) Shares Purchased by Envestnet Asset Management Inc.

Corebridge Financial logo with Finance background

Envestnet Asset Management Inc. lifted its holdings in Corebridge Financial, Inc. (NYSE:CRBG - Free Report) by 227.6% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,458,517 shares of the company's stock after purchasing an additional 1,013,259 shares during the period. Envestnet Asset Management Inc. owned about 0.26% of Corebridge Financial worth $46,045,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in CRBG. PNC Financial Services Group Inc. increased its position in Corebridge Financial by 70.5% in the fourth quarter. PNC Financial Services Group Inc. now owns 4,322 shares of the company's stock worth $129,000 after buying an additional 1,787 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Corebridge Financial by 15.8% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 64,651 shares of the company's stock valued at $1,935,000 after purchasing an additional 8,815 shares in the last quarter. Daiwa Securities Group Inc. boosted its position in shares of Corebridge Financial by 34.5% in the fourth quarter. Daiwa Securities Group Inc. now owns 73,300 shares of the company's stock worth $2,194,000 after purchasing an additional 18,800 shares during the period. EverSource Wealth Advisors LLC increased its stake in shares of Corebridge Financial by 25.1% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,642 shares of the company's stock worth $49,000 after purchasing an additional 329 shares in the last quarter. Finally, Skandinaviska Enskilda Banken AB publ increased its stake in shares of Corebridge Financial by 78.6% in the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 102,477 shares of the company's stock worth $3,072,000 after purchasing an additional 45,100 shares in the last quarter. Institutional investors own 98.25% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on CRBG. JPMorgan Chase & Co. increased their price target on Corebridge Financial from $34.00 to $40.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 8th. UBS Group upgraded Corebridge Financial from a "sell" rating to a "neutral" rating and increased their target price for the stock from $28.00 to $37.00 in a research report on Friday, July 11th. Piper Sandler boosted their price target on Corebridge Financial from $38.00 to $40.00 and gave the stock an "overweight" rating in a report on Thursday, July 3rd. Wall Street Zen lowered shares of Corebridge Financial from a "hold" rating to a "sell" rating in a report on Sunday. Finally, BMO Capital Markets lifted their price objective on shares of Corebridge Financial from $43.00 to $44.00 and gave the company an "outperform" rating in a research report on Friday, June 27th. One analyst has rated the stock with a sell rating, three have issued a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $39.91.

Get Our Latest Research Report on Corebridge Financial

Corebridge Financial Trading Up 1.3%

NYSE:CRBG traded up $0.44 during midday trading on Wednesday, hitting $34.77. The stock had a trading volume of 2,551,184 shares, compared to its average volume of 3,149,337. The company has a market capitalization of $19.11 billion, a price-to-earnings ratio of 29.46, a PEG ratio of 0.58 and a beta of 1.06. The company has a quick ratio of 0.14, a current ratio of 0.14 and a debt-to-equity ratio of 0.96. Corebridge Financial, Inc. has a one year low of $23.69 and a one year high of $36.08. The stock has a 50-day moving average of $33.21 and a 200 day moving average of $31.86.

Corebridge Financial (NYSE:CRBG - Get Free Report) last announced its earnings results on Monday, May 5th. The company reported $1.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.15 by $0.01. The business had revenue of $4.74 billion for the quarter, compared to analysts' expectations of $5.28 billion. Corebridge Financial had a return on equity of 22.19% and a net margin of 3.73%. During the same quarter last year, the firm earned $1.10 EPS. As a group, sell-side analysts forecast that Corebridge Financial, Inc. will post 5.43 EPS for the current year.

Corebridge Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Monday, June 16th were issued a $0.24 dividend. The ex-dividend date of this dividend was Monday, June 16th. This represents a $0.96 dividend on an annualized basis and a yield of 2.76%. Corebridge Financial's dividend payout ratio is presently 81.36%.

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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Institutional Ownership by Quarter for Corebridge Financial (NYSE:CRBG)

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