Wealthfront Advisers LLC Has $2.74 Million Holdings in Corebridge Financial, Inc. (NYSE:CRBG)

Wealthfront Advisers LLC trimmed its position in Corebridge Financial, Inc. (NYSE:CRBG - Free Report) by 9.8% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 86,679 shares of the company's stock after selling 9,422 shares during the period. Wealthfront Advisers LLC's holdings in Corebridge Financial were worth $2,736,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the company. Oarsman Capital Inc. bought a new stake in shares of Corebridge Financial during the fourth quarter valued at approximately $30,000. Sunbelt Securities Inc. bought a new stake in shares of Corebridge Financial during the fourth quarter valued at approximately $30,000. Whittier Trust Co. of Nevada Inc. raised its holdings in shares of Corebridge Financial by 58.4% during the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 1,147 shares of the company's stock valued at $34,000 after buying an additional 423 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. raised its holdings in shares of Corebridge Financial by 80.2% during the fourth quarter. Point72 Asia Singapore Pte. Ltd. now owns 1,681 shares of the company's stock valued at $50,000 after buying an additional 748 shares during the last quarter. Finally, Quarry LP bought a new stake in shares of Corebridge Financial during the fourth quarter valued at approximately $63,000. 98.25% of the stock is currently owned by institutional investors and hedge funds.

Corebridge Financial Trading Down 0.1%

NYSE CRBG traded down $0.03 on Friday, hitting $35.27. 1,570,109 shares of the stock were exchanged, compared to its average volume of 3,252,697. Corebridge Financial, Inc. has a 52-week low of $23.69 and a 52-week high of $36.08. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.14 and a quick ratio of 0.14. The company has a market capitalization of $19.39 billion, a price-to-earnings ratio of 29.89, a P/E/G ratio of 0.57 and a beta of 1.06. The company's 50-day moving average price is $33.44 and its two-hundred day moving average price is $31.97.

Corebridge Financial (NYSE:CRBG - Get Free Report) last issued its earnings results on Monday, May 5th. The company reported $1.16 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 3.73% and a return on equity of 22.19%. During the same quarter last year, the business posted $1.10 EPS. Research analysts predict that Corebridge Financial, Inc. will post 5.43 EPS for the current year.

Corebridge Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Monday, June 16th were paid a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.72%. The ex-dividend date of this dividend was Monday, June 16th. Corebridge Financial's dividend payout ratio (DPR) is currently 81.36%.

Analyst Ratings Changes

Several equities research analysts recently commented on CRBG shares. BMO Capital Markets boosted their target price on Corebridge Financial from $43.00 to $44.00 and gave the stock an "outperform" rating in a report on Friday, June 27th. Morgan Stanley boosted their target price on Corebridge Financial from $37.00 to $40.00 and gave the stock an "overweight" rating in a report on Friday, June 27th. Piper Sandler boosted their target price on Corebridge Financial from $38.00 to $40.00 and gave the stock an "overweight" rating in a report on Thursday, July 3rd. Wells Fargo & Company boosted their target price on Corebridge Financial from $37.00 to $42.00 and gave the stock an "overweight" rating in a report on Wednesday, July 2nd. Finally, Keefe, Bruyette & Woods boosted their target price on Corebridge Financial from $39.00 to $42.00 and gave the stock an "outperform" rating in a report on Wednesday, July 9th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $39.91.

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.