Robeco Institutional Asset Management B.V. Sells 504,206 Shares of Corebridge Financial, Inc. (NYSE:CRBG)

Robeco Institutional Asset Management B.V. lessened its position in Corebridge Financial, Inc. (NYSE:CRBG - Free Report) by 58.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 357,064 shares of the company's stock after selling 504,206 shares during the period. Robeco Institutional Asset Management B.V. owned about 0.06% of Corebridge Financial worth $11,273,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. New York Life Investment Management LLC purchased a new stake in Corebridge Financial during the fourth quarter valued at approximately $781,000. Merit Financial Group LLC purchased a new stake in Corebridge Financial during the first quarter valued at approximately $832,000. Raymond James Financial Inc. purchased a new stake in Corebridge Financial during the fourth quarter valued at approximately $31,844,000. US Bancorp DE increased its holdings in Corebridge Financial by 7,525.1% during the fourth quarter. US Bancorp DE now owns 21,579 shares of the company's stock valued at $646,000 after buying an additional 21,296 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Corebridge Financial by 88.1% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 96,872 shares of the company's stock valued at $2,899,000 after buying an additional 45,363 shares during the last quarter. Institutional investors own 98.25% of the company's stock.

Corebridge Financial Trading Up 2.6%

CRBG stock opened at $35.92 on Monday. The company has a market capitalization of $19.75 billion, a PE ratio of 30.44, a P/E/G ratio of 0.58 and a beta of 1.04. Corebridge Financial, Inc. has a 12 month low of $23.69 and a 12 month high of $36.03. The firm's 50-day moving average is $31.91 and its 200 day moving average is $31.44. 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 (NYSE:CRBG - Get Free Report) last posted its earnings results on Monday, May 5th. The company reported $1.16 EPS for the quarter, beating analysts' consensus estimates of $1.15 by $0.01. The business had revenue of $4.74 billion for 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 firm posted $1.10 EPS. On average, research analysts anticipate that Corebridge Financial, Inc. will post 5.43 EPS for the current year.

Corebridge Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 16th will be given a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.67%. The ex-dividend date of this dividend is Monday, June 16th. Corebridge Financial's payout ratio is currently 81.36%.

Analyst Upgrades and Downgrades

CRBG has been the subject of a number of analyst reports. Wall Street Zen raised shares of Corebridge Financial from a "sell" rating to a "hold" rating in a research note on Friday, June 6th. BMO Capital Markets raised their target price on shares of Corebridge Financial from $43.00 to $44.00 and gave the company an "outperform" rating in a research note on Friday. Piper Sandler raised their target price on shares of Corebridge Financial from $35.00 to $38.00 and gave the company an "overweight" rating in a research note on Wednesday, April 2nd. UBS Group lowered shares of Corebridge Financial from a "buy" rating to a "sell" rating and lowered their price objective for the company from $40.00 to $28.00 in a research report on Wednesday, April 2nd. Finally, Wells Fargo & Company increased their price objective on shares of Corebridge Financial from $35.00 to $37.00 and gave the company an "overweight" rating in a research report on Wednesday, May 7th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, Corebridge Financial presently has a consensus rating of "Moderate Buy" and an average target price of $37.67.

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.

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