Vanguard Group Inc. Acquires 311,133 Shares of Corebridge Financial, Inc. $CRBG

Key Points

• Vanguard raised its stake in Corebridge to 27,143,048 shares (about 5.21%) by adding 311,133 shares in the quarter, a holding valued at roughly $818.9 million, and institutional investors own about 98.25% of the stock.
• Analysts have a consensus rating of Moderate Buy with an average target of $35, though major firms including Wells Fargo, Mizuho, UBS and BofA recently cut targets into the low‑$30s or high‑$20s.
• Shares trade near $27.53 (52‑week range $22.19–$36.57) with a $13.26B market cap; Corebridge beat the latest quarter's EPS and revenue estimates but has a negative net margin and P/E, and raised its quarterly dividend to $0.25 (3.6% yield).

Vanguard Group Inc. raised its holdings in shares of Corebridge Financial, Inc. (NYSE:CRBG - Free Report) by 1.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 27,143,048 shares of the company's stock after acquiring an additional 311,133 shares during the period. Vanguard Group Inc. owned about 5.21% of Corebridge Financial worth $818,906,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of CRBG. Goldman Sachs Group Inc. grew its position in Corebridge Financial by 229.9% during the first quarter. Goldman Sachs Group Inc. now owns 1,300,030 shares of the company's stock valued at $41,042,000 after acquiring an additional 905,918 shares during the last quarter. Focus Partners Wealth bought a new position in shares of Corebridge Financial in the first quarter worth approximately $384,000. Creative Planning bought a new position in shares of Corebridge Financial in the second quarter worth approximately $243,000. EverSource Wealth Advisors LLC grew its holdings in shares of Corebridge Financial by 58.8% in the second quarter. EverSource Wealth Advisors LLC now owns 4,558 shares of the company's stock worth $162,000 after purchasing an additional 1,688 shares during the last quarter. Finally, Cerity Partners LLC grew its holdings in shares of Corebridge Financial by 64.4% in the second quarter. Cerity Partners LLC now owns 92,554 shares of the company's stock worth $3,286,000 after purchasing an additional 36,239 shares during the last quarter. 98.25% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. Wells Fargo & Company cut their target price on shares of Corebridge Financial from $36.00 to $32.00 and set an "overweight" rating on the stock in a report on Friday, April 10th. Weiss Ratings cut shares of Corebridge Financial from a "buy (b-)" rating to a "hold (c+)" rating in a report on Thursday, January 15th. Mizuho cut their target price on shares of Corebridge Financial from $39.00 to $31.00 and set an "outperform" rating on the stock in a report on Monday, April 13th. Bank of America cut their target price on shares of Corebridge Financial from $42.00 to $40.00 and set a "buy" rating on the stock in a report on Tuesday, April 14th. Finally, UBS Group cut their target price on shares of Corebridge Financial from $33.00 to $29.00 and set a "neutral" rating on the stock in a report on Tuesday, April 28th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $35.00.

Corebridge Financial Stock Performance

Shares of CRBG stock opened at $27.53 on Friday. The stock has a fifty day moving average of $25.28 and a 200 day moving average of $28.70. Corebridge Financial, Inc. has a 52 week low of $22.19 and a 52 week high of $36.57. The firm has a market capitalization of $13.26 billion, a price-to-earnings ratio of -51.95, a PEG ratio of 0.39 and a beta of 1.18. The company has a quick ratio of 0.12, a current ratio of 0.12 and a debt-to-equity ratio of 0.11.

Corebridge Financial (NYSE:CRBG - Get Free Report) last announced its quarterly earnings results on Wednesday, February 11th. The company reported $1.22 EPS for the quarter, topping analysts' consensus estimates of $1.11 by $0.11. Corebridge Financial had a positive return on equity of 18.92% and a negative net margin of 1.73%.The company had revenue of $6.34 billion during the quarter, compared to analyst estimates of $5.02 billion. During the same quarter last year, the firm posted $1.06 earnings per share. As a group, research analysts expect that Corebridge Financial, Inc. will post 4.91 earnings per share for the current year.

Corebridge Financial Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 31st. Investors of record on Tuesday, March 17th were paid a $0.25 dividend. The ex-dividend date of this dividend was Tuesday, March 17th. This is a positive change from Corebridge Financial's previous quarterly dividend of $0.24. This represents a $1.00 dividend on an annualized basis and a yield of 3.6%. Corebridge Financial's payout ratio is -188.68%.

About Corebridge Financial

Corebridge Financial NYSE: CRBG is a publicly traded provider of retirement, life insurance and asset management solutions. Formed from the separation of American International Group’s life and retirement operations, Corebridge focuses on helping individuals, employers and institutions manage retirement income, protect against longevity and mortality risks, and invest long-term savings. The company operates under a unified brand that brings together insurance products and investment capabilities to deliver integrated financial solutions.

Corebridge’s product suite includes retirement income and annuity products, individual and group life insurance, asset management and investment advisory services, and employer-sponsored retirement plan offerings.

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