LSV Asset Management Grows Position in Corebridge Financial, Inc. (NYSE:CRBG)

Key Points

• LSV Asset Management increased its stake in Corebridge Financial by 51.3% in the first quarter, owning a total of 4,337,034 shares valued at approximately $136.9 million.
• Several analysts, including Wells Fargo and Barclays, have upgraded their price targets for Corebridge Financial, with a consensus target price now set at $39.91.
• Corebridge Financial recently announced a quarterly dividend of $0.24 per share, representing an annual yield of 2.8%.

LSV Asset Management boosted its stake in Corebridge Financial, Inc. (NYSE:CRBG - Free Report) by 51.3% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,337,034 shares of the company's stock after purchasing an additional 1,470,812 shares during the quarter. LSV Asset Management owned about 0.79% of Corebridge Financial worth $136,920,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD lifted its holdings in shares of Corebridge Financial by 31.2% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 32,961,533 shares of the company's stock worth $986,539,000 after buying an additional 7,828,929 shares in the last quarter. Pzena Investment Management LLC increased its holdings in shares of Corebridge Financial by 73.6% in the first quarter. Pzena Investment Management LLC now owns 8,050,602 shares of the company's stock worth $254,158,000 after purchasing an additional 3,412,147 shares during the period. AQR Capital Management LLC raised its position in shares of Corebridge Financial by 10.5% in the fourth quarter. AQR Capital Management LLC now owns 5,556,761 shares of the company's stock worth $166,314,000 after buying an additional 527,376 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in Corebridge Financial by 16.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 5,457,441 shares of the company's stock worth $163,344,000 after acquiring an additional 770,255 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. raised its holdings in shares of Corebridge Financial by 34.6% in the 4th quarter. Jacobs Levy Equity Management Inc. now owns 4,803,433 shares of the company's stock valued at $143,767,000 after acquiring an additional 1,235,796 shares in the last quarter. Institutional investors own 98.25% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on CRBG shares. Wells Fargo & Company raised their price target on Corebridge Financial from $37.00 to $42.00 and gave the company an "overweight" rating in a research report on Wednesday, July 2nd. BMO Capital Markets increased their price target 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. Piper Sandler upped their price objective on shares of Corebridge Financial from $38.00 to $40.00 and gave the company an "overweight" rating in a research note on Thursday, July 3rd. Wall Street Zen raised shares of Corebridge Financial from a "sell" rating to a "hold" rating in a research note on Saturday. Finally, Barclays raised their price objective on Corebridge Financial from $38.00 to $45.00 and gave the company an "overweight" rating in a research note on Thursday, June 26th. Four investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $40.70.

Corebridge Financial Stock Up 0.8%

Shares of Corebridge Financial stock traded up $0.29 during trading on Monday, reaching $34.77. The company's stock had a trading volume of 3,887,539 shares, compared to its average volume of 2,350,501. Corebridge Financial, Inc. has a 1-year low of $23.69 and a 1-year high of $36.41. The company has a 50-day simple moving average of $34.01 and a two-hundred day simple moving average of $32.29. 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 company has a market cap of $19.11 billion, a price-to-earnings ratio of 7.04, a P/E/G ratio of 0.56 and a beta of 1.06.

Corebridge Financial (NYSE:CRBG - Get Free Report) last issued its quarterly earnings results on Monday, August 4th. The company reported $1.36 EPS for the quarter, topping analysts' consensus estimates of $1.20 by $0.16. Corebridge Financial had a return on equity of 22.19% and a net margin of 3.73%. During the same quarter in the previous year, the company posted $1.13 earnings per share. As a group, equities analysts forecast that Corebridge Financial, Inc. will post 5.43 earnings per share for the current 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 given a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 2.8%. The ex-dividend date was Monday, June 16th. Corebridge Financial's payout ratio is presently 81.36%.

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.