Mackenzie Financial Corp lifted its stake in Corebridge Financial, Inc. (NYSE:CRBG - Free Report) by 168.5% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 86,403 shares of the company's stock after purchasing an additional 54,222 shares during the quarter. Mackenzie Financial Corp's holdings in Corebridge Financial were worth $2,728,000 as of its most recent SEC filing.
Several other hedge funds have also recently made changes to their positions in CRBG. LPL Financial LLC boosted its holdings in Corebridge Financial by 3.8% in the 1st quarter. LPL Financial LLC now owns 180,778 shares of the company's stock worth $5,707,000 after buying an additional 6,593 shares during the last quarter. Skandinaviska Enskilda Banken AB publ grew its position in shares of Corebridge Financial by 63.9% in the first quarter. Skandinaviska Enskilda Banken AB publ now owns 167,977 shares of the company's stock valued at $5,303,000 after purchasing an additional 65,500 shares in the last quarter. Cetera Investment Advisers increased its position in Corebridge Financial by 25.3% during the first quarter. Cetera Investment Advisers now owns 25,216 shares of the company's stock worth $796,000 after purchasing an additional 5,091 shares during the last quarter. Machina Capital S.A.S. purchased a new stake in Corebridge Financial in the 1st quarter valued at about $434,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in Corebridge Financial during the first quarter worth about $5,682,000. 98.25% of the stock is owned by institutional investors and hedge funds.
Corebridge Financial Stock Performance
Shares of CRBG stock traded up $0.29 during mid-day trading on Monday, hitting $34.77. The stock had a trading volume of 3,887,539 shares, compared to its average volume of 3,074,569. The firm has a market cap of $19.11 billion, a PE ratio of 29.46, a PEG ratio of 0.56 and a beta of 1.06. The company's 50-day simple moving average is $34.01 and its 200-day simple moving average is $32.29. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.14 and a quick ratio of 0.14. Corebridge Financial, Inc. has a fifty-two week low of $23.69 and a fifty-two week high of $36.41.
Corebridge Financial (NYSE:CRBG - Get Free Report) last released its earnings results on Monday, August 4th. The company reported $1.36 earnings per share (EPS) for the quarter, topping the consensus estimate 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 business posted $1.13 EPS. Sell-side analysts anticipate that Corebridge Financial, Inc. will post 5.43 earnings per share for the current year.
Corebridge Financial Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Monday, June 30th. Shareholders 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%.
Analyst Upgrades and Downgrades
Several research firms have commented on CRBG. 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 report on Friday, July 11th. 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 note on Wednesday, July 2nd. BMO Capital Markets upped their price objective on Corebridge Financial from $43.00 to $44.00 and gave the stock an "outperform" rating in a research report on Friday, June 27th. Morgan Stanley raised their target price on Corebridge Financial from $37.00 to $40.00 and gave the stock an "overweight" rating in a research report on Friday, June 27th. Finally, Barclays raised their price objective on shares of Corebridge Financial from $38.00 to $45.00 and gave the stock an "overweight" rating in a report on Thursday, June 26th. Four equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $40.70.
Check Out Our Latest Analysis on Corebridge Financial
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.
See Also

Before you consider Corebridge Financial, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Corebridge Financial wasn't on the list.
While Corebridge Financial currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Wondering where to start (or end) with AI stocks? These 10 simple stocks can help investors build long-term wealth as artificial intelligence continues to grow into the future.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.