Mackenzie Financial Corp Has $963,000 Stake in Corebridge Financial, Inc. (NYSE:CRBG)

Mackenzie Financial Corp lowered its position in Corebridge Financial, Inc. (NYSE:CRBG - Free Report) by 90.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 32,181 shares of the company's stock after selling 295,589 shares during the quarter. Mackenzie Financial Corp's holdings in Corebridge Financial were worth $963,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently made changes to their positions in the business. Forum Financial Management LP boosted its holdings in Corebridge Financial by 60.2% during the 4th quarter. Forum Financial Management LP now owns 15,730 shares of the company's stock valued at $471,000 after acquiring an additional 5,912 shares during the period. Sunbelt Securities Inc. purchased a new stake in shares of Corebridge Financial during the fourth quarter valued at approximately $30,000. CSS LLC IL boosted its stake in shares of Corebridge Financial by 22.2% during the fourth quarter. CSS LLC IL now owns 21,391 shares of the company's stock valued at $640,000 after purchasing an additional 3,891 shares during the period. PharVision Advisers LLC purchased a new stake in Corebridge Financial during the 4th quarter valued at $268,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Corebridge Financial by 0.3% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,659,829 shares of the company's stock valued at $49,679,000 after buying an additional 4,666 shares during the period. Hedge funds and other institutional investors own 98.25% of the company's stock.

Corebridge Financial Price Performance

Corebridge Financial stock traded up $0.25 during midday trading on Tuesday, reaching $32.87. 1,158,161 shares of the company were exchanged, compared to its average volume of 3,341,183. The company has a market capitalization of $18.07 billion, a price-to-earnings ratio of 8.70, a P/E/G ratio of 0.43 and a beta of 1.01. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.13 and a current ratio of 0.13. Corebridge Financial, Inc. has a 1 year low of $23.69 and a 1 year high of $35.36. The firm's 50-day simple moving average is $30.12 and its 200-day simple moving average is $31.25.

Corebridge Financial (NYSE:CRBG - Get Free Report) last released its quarterly earnings data on Monday, May 5th. The company reported $1.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.15 by $0.01. Corebridge Financial had a net margin of 11.39% and a return on equity of 22.69%. The company had revenue of $4.74 billion during the quarter, compared to the consensus estimate of $5.28 billion. During the same period in the previous year, the firm earned $1.10 earnings per share. On average, analysts anticipate that Corebridge Financial, Inc. will post 5.43 EPS for the current year.

Corebridge Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 16th will be paid a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 2.92%. The ex-dividend date is Monday, June 16th. Corebridge Financial's dividend payout ratio (DPR) is currently 81.36%.

Analysts Set New Price Targets

A number of analysts recently commented on the company. Wells Fargo & Company raised their price target on Corebridge Financial from $35.00 to $37.00 and gave the stock an "overweight" rating in a research note on Wednesday, May 7th. Morgan Stanley raised their target price on shares of Corebridge Financial from $32.00 to $37.00 and gave the stock an "overweight" rating in a research report on Monday, May 19th. Barclays raised their price objective on shares of Corebridge Financial from $36.00 to $38.00 and gave the stock an "overweight" rating in a report on Tuesday, May 6th. Piper Sandler raised their price objective on shares of Corebridge Financial from $35.00 to $38.00 and gave the stock an "overweight" rating in a report on Wednesday, April 2nd. Finally, Keefe, Bruyette & Woods raised their price objective on shares of Corebridge Financial from $37.00 to $39.00 and gave the stock an "outperform" rating in a report on Wednesday, May 7th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $37.00.

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.