Cwm LLC Boosts Holdings in Corebridge Financial, Inc. (NYSE:CRBG)

CWM LLC raised its position in Corebridge Financial, Inc. (NYSE:CRBG - Free Report) by 239.6% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 82,332 shares of the company's stock after acquiring an additional 58,088 shares during the quarter. CWM LLC's holdings in Corebridge Financial were worth $2,599,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. raised its stake in Corebridge Financial by 70.5% in the 4th quarter. PNC Financial Services Group Inc. now owns 4,322 shares of the company's stock worth $129,000 after purchasing an additional 1,787 shares in the last quarter. Envestnet Portfolio Solutions Inc. grew its holdings in shares of Corebridge Financial by 288.4% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 32,855 shares of the company's stock valued at $983,000 after purchasing an additional 24,396 shares during the last quarter. Xponance Inc. grew its holdings in shares of Corebridge Financial by 47.7% during the 4th quarter. Xponance Inc. now owns 32,999 shares of the company's stock valued at $988,000 after purchasing an additional 10,663 shares during the last quarter. Magnetar Financial LLC bought a new stake in shares of Corebridge Financial during the 4th quarter valued at approximately $1,201,000. Finally, Whittier Trust Co. of Nevada Inc. grew its holdings 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 purchasing an additional 423 shares during the last quarter. Institutional investors and hedge funds own 98.25% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. Piper Sandler lifted their target price on shares of Corebridge Financial from $38.00 to $40.00 and gave the stock an "overweight" rating in a research report on Thursday, July 3rd. Morgan Stanley lifted their target price on shares of Corebridge Financial from $37.00 to $40.00 and gave the stock an "overweight" rating in a research report on Friday, June 27th. BMO Capital Markets lifted their target price on shares of Corebridge Financial from $43.00 to $44.00 and gave the stock an "outperform" rating in a research report on Friday, June 27th. JPMorgan Chase & Co. boosted their price target on shares of Corebridge Financial from $34.00 to $40.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 8th. Finally, UBS Group upgraded shares of Corebridge Financial from a "sell" rating to a "neutral" rating and boosted their price target for the stock from $28.00 to $37.00 in a research report on Friday, July 11th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $39.91.

Corebridge Financial Stock Down 0.1%

CRBG traded down $0.03 during trading on Friday, hitting $35.27. 1,570,109 shares of the company's stock were exchanged, compared to its average volume of 3,252,697. Corebridge Financial, Inc. has a fifty-two week low of $23.69 and a fifty-two week 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 stock has a market cap of $19.39 billion, a P/E ratio of 29.89, a PEG ratio of 0.57 and a beta of 1.06. The business's 50 day moving average is $33.44 and its two-hundred day moving average is $31.97.

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

Corebridge Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Monday, June 16th were given 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 dividend yield of 2.72%. Corebridge Financial's dividend payout ratio (DPR) is currently 81.36%.

About Corebridge Financial

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.