Vest Financial LLC Purchases 582,712 Shares of Corebridge Financial, Inc. (NYSE:CRBG)

Vest Financial LLC raised its holdings in Corebridge Financial, Inc. (NYSE:CRBG - Free Report) by 704.3% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 665,445 shares of the company's stock after acquiring an additional 582,712 shares during the quarter. Vest Financial LLC owned about 0.12% of Corebridge Financial worth $21,008,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Smartleaf Asset Management LLC grew its holdings in Corebridge Financial by 112.4% during the fourth quarter. Smartleaf Asset Management LLC now owns 907 shares of the company's stock valued at $27,000 after purchasing an additional 480 shares during the last quarter. Oarsman Capital Inc. bought a new stake in shares of Corebridge Financial during the 4th quarter worth $30,000. Sunbelt Securities Inc. acquired a new position in Corebridge Financial in the 4th quarter valued at $30,000. Blue Trust Inc. raised its holdings in Corebridge Financial by 183.2% in the 4th quarter. Blue Trust Inc. now owns 1,127 shares of the company's stock worth $33,000 after acquiring an additional 729 shares during the period. Finally, Whittier Trust Co. of Nevada Inc. raised its holdings in Corebridge Financial by 58.4% in the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 1,147 shares of the company's stock worth $34,000 after acquiring an additional 423 shares during the period. 98.25% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

CRBG has been the topic of several recent analyst reports. Wells Fargo & Company lifted their price target on Corebridge Financial from $35.00 to $37.00 and gave the stock an "overweight" rating in a research report on Wednesday, May 7th. Keefe, Bruyette & Woods boosted their price target on Corebridge Financial from $37.00 to $39.00 and gave the company an "outperform" rating in a research note on Wednesday, May 7th. Barclays lifted their price objective on Corebridge Financial from $36.00 to $38.00 and gave the stock an "overweight" rating in a report on Tuesday, May 6th. Wall Street Zen upgraded Corebridge Financial from a "sell" rating to a "hold" rating in a research report on Friday. Finally, Morgan Stanley raised their target price on Corebridge Financial from $32.00 to $37.00 and gave the stock an "overweight" rating in a research report on Monday, May 19th. One analyst has rated the stock with a sell rating, three have issued a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $37.00.

Corebridge Financial Price Performance

Shares of CRBG stock traded up $0.59 during trading hours on Friday, hitting $33.33. 1,764,245 shares of the company's stock were exchanged, compared to its average volume of 3,289,765. Corebridge Financial, Inc. has a 52 week low of $23.69 and a 52 week high of $35.36. The stock has a market cap of $18.32 billion, a price-to-earnings ratio of 8.82, a price-to-earnings-growth ratio of 0.43 and a beta of 1.04. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.13 and a quick ratio of 0.13. The stock's 50-day moving average is $30.22 and its 200-day moving average is $31.30.

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. Corebridge Financial had a net margin of 11.39% and a return on equity of 22.69%. The business had revenue of $4.74 billion for the quarter, compared to the consensus estimate of $5.28 billion. During the same quarter in the prior year, the company earned $1.10 EPS. As a group, research analysts forecast that Corebridge Financial, Inc. will post 5.43 EPS for the current year.

Corebridge Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 16th will be given a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 2.88%. The ex-dividend date of this dividend is Monday, June 16th. Corebridge Financial's dividend payout ratio (DPR) is presently 81.36%.

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.