First Trust Advisors LP Buys 877,980 Shares of Corebridge Financial, Inc. (NYSE:CRBG)

First Trust Advisors LP grew its stake in shares of Corebridge Financial, Inc. (NYSE:CRBG - Free Report) by 26.6% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 4,182,819 shares of the company's stock after buying an additional 877,980 shares during the quarter. First Trust Advisors LP owned approximately 0.74% of Corebridge Financial worth $125,192,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. EverSource Wealth Advisors LLC lifted its position in shares of Corebridge Financial by 25.1% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,642 shares of the company's stock worth $49,000 after purchasing an additional 329 shares during the period. Whittier Trust Co. of Nevada Inc. grew its stake in 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 worth $34,000 after purchasing an additional 423 shares during the period. Smartleaf Asset Management LLC increased its holdings in Corebridge Financial by 112.4% in the fourth quarter. Smartleaf Asset Management LLC now owns 907 shares of the company's stock worth $27,000 after purchasing an additional 480 shares in the last quarter. Sanctuary Advisors LLC lifted its stake in Corebridge Financial by 3.1% in the fourth quarter. Sanctuary Advisors LLC now owns 22,182 shares of the company's stock valued at $664,000 after buying an additional 660 shares during the period. Finally, Blue Trust Inc. boosted its holdings in shares of Corebridge Financial by 183.2% during the 4th quarter. Blue Trust Inc. now owns 1,127 shares of the company's stock worth $33,000 after buying an additional 729 shares in the last quarter. Institutional investors own 98.25% of the company's stock.

Analyst Ratings Changes

CRBG has been the subject of a number of research reports. Morgan Stanley reduced their price target on shares of Corebridge Financial from $43.00 to $32.00 and set an "overweight" rating for the company in a report on Thursday, April 10th. Barclays decreased their price objective on Corebridge Financial from $37.00 to $36.00 and set an "overweight" rating for the company in a report on Friday, April 11th. Keefe, Bruyette & Woods lowered their target price on Corebridge Financial from $40.00 to $37.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 9th. UBS Group downgraded shares of Corebridge Financial from a "buy" rating to a "sell" rating and reduced their price target for the company from $40.00 to $28.00 in a research report on Wednesday, April 2nd. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of Corebridge Financial from a "hold" rating to a "buy" rating and upped their price objective for the stock from $33.00 to $40.00 in a report on Friday, January 10th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and eleven have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $36.15.

Corebridge Financial Stock Performance

Shares of CRBG traded up $0.02 during mid-day trading on Friday, hitting $29.50. The stock had a trading volume of 2,653,029 shares, compared to its average volume of 3,564,475. Corebridge Financial, Inc. has a 52 week low of $23.69 and a 52 week high of $35.36. 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 business has a fifty day moving average price of $30.56 and a 200-day moving average price of $31.15. The firm has a market cap of $16.30 billion, a P/E ratio of 7.80, a PEG ratio of 0.43 and a beta of 0.98.

Corebridge Financial (NYSE:CRBG - Get Free Report) last released its quarterly earnings data on Wednesday, February 12th. The company reported $1.23 EPS for the quarter, missing the consensus estimate of $1.27 by ($0.04). Corebridge Financial had a net margin of 11.39% and a return on equity of 22.69%. On average, equities research analysts expect that Corebridge Financial, Inc. will post 5.43 EPS for the current year.

Corebridge Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 17th were issued a $0.24 dividend. The ex-dividend date of this dividend was Monday, March 17th. This is an increase from Corebridge Financial's previous quarterly dividend of $0.23. This represents a $0.96 annualized dividend and a yield of 3.25%. Corebridge Financial's dividend payout ratio (DPR) is 25.40%.

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.