SG Americas Securities LLC decreased its position in Corebridge Financial, Inc. (NYSE:CRBG - Free Report) by 36.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 119,601 shares of the company's stock after selling 69,960 shares during the period. SG Americas Securities LLC's holdings in Corebridge Financial were worth $3,776,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also bought and sold shares of the company. Norges Bank bought a new stake in Corebridge Financial in the fourth quarter valued at $283,212,000. Price T Rowe Associates Inc. MD boosted its stake in 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 valued at $986,539,000 after acquiring an additional 7,828,929 shares during the last quarter. Wellington Management Group LLP lifted its stake in shares of Corebridge Financial by 4,624.2% during the 4th quarter. Wellington Management Group LLP now owns 3,707,960 shares of the company's stock valued at $110,979,000 after buying an additional 3,629,472 shares in the last quarter. Pzena Investment Management LLC lifted its stake in shares of Corebridge Financial by 222.9% during the 4th quarter. Pzena Investment Management LLC now owns 4,638,455 shares of the company's stock valued at $138,829,000 after buying an additional 3,202,145 shares in the last quarter. Finally, LSV Asset Management purchased a new stake in shares of Corebridge Financial during the 4th quarter valued at approximately $85,786,000. Institutional investors and hedge funds own 98.25% of the company's stock.
Corebridge Financial Stock Down 3.1%
Shares of Corebridge Financial stock traded down $1.01 during trading on Friday, hitting $32.02. The company's stock had a trading volume of 2,637,849 shares, compared to its average volume of 3,260,010. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.13 and a current ratio of 0.13. The company has a fifty day simple moving average of $30.76 and a two-hundred day simple moving average of $31.34. The company has a market capitalization of $17.60 billion, a PE ratio of 8.47, a P/E/G ratio of 0.43 and a beta of 1.04. Corebridge Financial, Inc. has a 52 week low of $23.69 and a 52 week high of $35.36.
Corebridge Financial (NYSE:CRBG - Get Free Report) last issued its quarterly earnings results 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. The company had revenue of $4.74 billion during the quarter, compared to analyst estimates of $5.28 billion. Corebridge Financial had a net margin of 11.39% and a return on equity of 22.69%. During the same period last year, the business earned $1.10 EPS. Equities research analysts predict that Corebridge Financial, Inc. will post 5.43 earnings per share for the current year.
Corebridge Financial Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 16th will be paid a $0.24 dividend. The ex-dividend date is Monday, June 16th. This represents a $0.96 annualized dividend and a dividend yield of 3.00%. Corebridge Financial's payout ratio is 81.36%.
Wall Street Analysts Forecast Growth
A number of analysts recently weighed in on the stock. Wall Street Zen raised shares of Corebridge Financial from a "sell" rating to a "hold" rating in a report on Friday, June 6th. UBS Group lowered shares of Corebridge Financial from a "buy" rating to a "sell" rating and reduced their target price for the company from $40.00 to $28.00 in a report on Wednesday, April 2nd. Barclays increased their target price on shares of Corebridge Financial from $36.00 to $38.00 and gave the company an "overweight" rating in a report on Tuesday, May 6th. Morgan Stanley increased their target price on shares of Corebridge Financial from $32.00 to $37.00 and gave the company an "overweight" rating in a report on Monday, May 19th. Finally, Piper Sandler increased their target price on shares of Corebridge Financial from $35.00 to $38.00 and gave the company an "overweight" rating in a report on Wednesday, April 2nd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, Corebridge Financial currently has an average rating of "Moderate Buy" and a consensus target price of $37.00.
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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.
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