LPL Financial LLC Buys 23,340 Shares of Corebridge Financial, Inc. (NYSE:CRBG)

LPL Financial LLC lifted its position in shares of Corebridge Financial, Inc. (NYSE:CRBG - Free Report) by 15.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 174,185 shares of the company's stock after purchasing an additional 23,340 shares during the quarter. LPL Financial LLC's holdings in Corebridge Financial were worth $5,213,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in CRBG. The Manufacturers Life Insurance Company raised its stake in shares of Corebridge Financial by 3.4% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 22,211 shares of the company's stock valued at $648,000 after purchasing an additional 732 shares during the period. State Street Corp raised its stake in Corebridge Financial by 11.7% in the third quarter. State Street Corp now owns 8,035,438 shares of the company's stock valued at $234,313,000 after buying an additional 843,559 shares during the period. Wellington Management Group LLP boosted its position in Corebridge Financial by 13.3% during the third quarter. Wellington Management Group LLP now owns 78,488 shares of the company's stock worth $2,289,000 after purchasing an additional 9,229 shares during the period. EP Wealth Advisors LLC acquired a new position in Corebridge Financial in the 3rd quarter valued at about $493,000. Finally, iA Global Asset Management Inc. raised its holdings in Corebridge Financial by 62.2% in the 3rd quarter. iA Global Asset Management Inc. now owns 10,593 shares of the company's stock valued at $309,000 after acquiring an additional 4,061 shares during the period. Institutional investors and hedge funds own 98.25% of the company's stock.

Analyst Ratings Changes

CRBG has been the subject of several recent research reports. Piper Sandler boosted their price target on Corebridge Financial from $35.00 to $38.00 and gave the company an "overweight" rating in a research note on Wednesday, April 2nd. Keefe, Bruyette & Woods decreased their price target on Corebridge Financial from $40.00 to $37.00 and set an "outperform" rating on the stock in a research report on Wednesday. Morgan Stanley cut their price objective on shares of Corebridge Financial from $43.00 to $32.00 and set an "overweight" rating for the company in a research report on Thursday. BMO Capital Markets began coverage on shares of Corebridge Financial in a report on Thursday, January 23rd. They issued an "outperform" rating and a $43.00 target price on the stock. Finally, UBS Group downgraded shares of Corebridge Financial from a "buy" rating to a "sell" rating and cut their price target for the stock from $40.00 to $28.00 in a report on Wednesday, April 2nd. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and eleven have issued a buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $36.15.

Corebridge Financial Stock Up 0.2 %

CRBG stock traded up $0.05 during trading on Friday, reaching $26.71. 5,995,192 shares of the stock were exchanged, compared to its average volume of 3,577,672. Corebridge Financial, Inc. has a twelve month low of $23.69 and a twelve month high of $35.36. The firm's 50 day moving average is $31.56 and its 200 day moving average is $31.25. The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 0.16. The firm has a market cap of $14.85 billion, a P/E ratio of 7.07, a price-to-earnings-growth 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 earnings per share for the quarter, missing the consensus estimate of $1.27 by ($0.04). Corebridge Financial had a return on equity of 22.69% and a net margin of 11.39%. As a group, research analysts forecast that Corebridge Financial, Inc. will post 5.43 EPS for the current year.

Corebridge Financial Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 17th were paid a dividend of $0.24 per share. The ex-dividend date of this dividend was Monday, March 17th. This represents a $0.96 dividend on an annualized basis and a yield of 3.59%. This is an increase from Corebridge Financial's previous quarterly dividend of $0.23. Corebridge Financial's payout ratio 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.