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Wealth Enhancement Advisory Services LLC Increases Stock Holdings in Corebridge Financial, Inc. (NYSE:CRBG)

Corebridge Financial logo with Finance background

Wealth Enhancement Advisory Services LLC boosted its position in shares of Corebridge Financial, Inc. (NYSE:CRBG - Free Report) by 194.8% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 55,962 shares of the company's stock after acquiring an additional 36,977 shares during the period. Wealth Enhancement Advisory Services LLC's holdings in Corebridge Financial were worth $1,767,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Smartleaf Asset Management LLC boosted its position in shares of Corebridge Financial by 112.4% in the 4th quarter. Smartleaf Asset Management LLC now owns 907 shares of the company's stock worth $27,000 after purchasing an additional 480 shares in the last quarter. Oarsman Capital Inc. acquired a new position in Corebridge Financial during the 4th quarter valued at about $30,000. Sunbelt Securities Inc. purchased a new stake in Corebridge Financial in the fourth quarter valued at about $30,000. Whittier Trust Co. of Nevada Inc. boosted its holdings in Corebridge Financial by 58.4% in the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 1,147 shares of the company's stock worth $34,000 after acquiring an additional 423 shares in the last quarter. Finally, EverSource Wealth Advisors LLC grew its stake in shares of Corebridge Financial by 25.1% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,642 shares of the company's stock worth $49,000 after acquiring an additional 329 shares during the last quarter. 98.25% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

CRBG has been the subject of several research analyst reports. Morgan Stanley increased their price objective on shares of Corebridge Financial from $37.00 to $40.00 and gave the company an "overweight" rating in a research report on Friday, June 27th. Barclays upped their price target on shares of Corebridge Financial from $38.00 to $45.00 and gave the company an "overweight" rating in a research note on Thursday, June 26th. UBS Group downgraded shares of Corebridge Financial from a "buy" rating to a "sell" rating and lowered their price objective for the stock from $40.00 to $28.00 in a research note on Wednesday, April 2nd. Wells Fargo & Company raised their target price on Corebridge Financial from $37.00 to $42.00 and gave the stock an "overweight" rating in a research note on Wednesday. Finally, Wall Street Zen raised Corebridge Financial from a "sell" rating to a "hold" rating in a research report on Friday, June 6th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and ten have given a buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $38.64.

Check Out Our Latest Report on CRBG

Corebridge Financial Stock Performance

Shares of CRBG stock traded up $0.43 on Thursday, hitting $35.78. The company had a trading volume of 2,092,831 shares, compared to its average volume of 3,268,482. Corebridge Financial, Inc. has a twelve month low of $23.69 and a twelve month high of $36.08. The company has a quick ratio of 0.14, a current ratio of 0.14 and a debt-to-equity ratio of 0.96. The firm has a market cap of $19.67 billion, a P/E ratio of 30.32, a price-to-earnings-growth ratio of 0.58 and a beta of 1.06. The company has a 50-day moving average price of $32.35 and a 200-day moving average price of $31.53.

Corebridge Financial (NYSE:CRBG - Get Free Report) last announced its quarterly earnings results on Monday, May 5th. The company reported $1.16 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.15 by $0.01. The company had revenue of $4.74 billion during the quarter, compared to the consensus estimate of $5.28 billion. Corebridge Financial had a return on equity of 22.19% and a net margin of 3.73%. During the same period in the previous year, the company posted $1.10 earnings per share. As a group, equities research analysts predict that Corebridge Financial, Inc. will post 5.43 earnings per share for the current fiscal year.

Corebridge Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Monday, June 16th were issued a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 2.68%. The ex-dividend date was Monday, June 16th. Corebridge Financial's dividend payout ratio (DPR) is presently 81.36%.

Corebridge Financial Profile

(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.

See Also

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

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