Man Group plc Increases Stake in Corebridge Financial, Inc. (NYSE:CRBG)

Man Group plc lifted its holdings in shares of Corebridge Financial, Inc. (NYSE:CRBG - Free Report) by 15.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,588,284 shares of the company's stock after acquiring an additional 346,836 shares during the period. Man Group plc owned approximately 0.45% of Corebridge Financial worth $77,467,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of CRBG. Barclays PLC grew its stake in shares of Corebridge Financial by 20.0% during the 3rd quarter. Barclays PLC now owns 358,035 shares of the company's stock worth $10,441,000 after acquiring an additional 59,702 shares during the period. FNY Investment Advisers LLC bought a new stake in shares of Corebridge Financial during the 4th quarter valued at $27,000. Assenagon Asset Management S.A. increased its position in shares of Corebridge Financial by 3.7% during the fourth quarter. Assenagon Asset Management S.A. now owns 116,389 shares of the company's stock valued at $3,484,000 after buying an additional 4,135 shares during the period. Park Avenue Securities LLC boosted its position in shares of Corebridge Financial by 52.2% in the fourth quarter. Park Avenue Securities LLC now owns 12,210 shares of the company's stock valued at $365,000 after acquiring an additional 4,188 shares during the period. Finally, Artemis Investment Management LLP boosted its holdings in Corebridge Financial by 21.5% in the 4th quarter. Artemis Investment Management LLP now owns 1,898,551 shares of the company's stock valued at $56,824,000 after purchasing an additional 335,532 shares during the period. Institutional investors own 98.25% of the company's stock.

Corebridge Financial Stock Up 0.2%

Shares of NYSE CRBG traded up $0.06 during mid-day trading on Monday, hitting $32.84. 576,763 shares of the stock traded hands, compared to its average volume of 3,400,673. The stock has a fifty day moving average price of $30.11 and a 200-day moving average price of $31.15. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.13 and a current ratio of 0.13. The company has a market cap of $18.07 billion, a price-to-earnings ratio of 8.69, a PEG ratio of 0.43 and a beta of 1.01. Corebridge Financial, Inc. has a 52 week low of $23.69 and a 52 week high of $35.36.

Corebridge Financial (NYSE:CRBG - Get Free Report) last posted its quarterly earnings data on Monday, May 5th. The company reported $1.16 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 analyst estimates of $5.28 billion. During the same quarter in the previous year, the firm posted $1.10 earnings per share. Research analysts anticipate that Corebridge Financial, Inc. will post 5.43 EPS for the current year.

Corebridge Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 16th will be paid a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 2.92%. The ex-dividend date of this dividend is Monday, June 16th. Corebridge Financial's payout ratio is 81.36%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on CRBG. Keefe, Bruyette & Woods boosted their target price on Corebridge Financial from $37.00 to $39.00 and gave the stock an "outperform" rating in a research report on Wednesday, May 7th. Wells Fargo & Company upped their price objective on shares of Corebridge Financial from $35.00 to $37.00 and gave the stock an "overweight" rating in a research report on Wednesday, May 7th. Piper Sandler boosted their price target on shares of Corebridge Financial from $35.00 to $38.00 and gave the stock an "overweight" rating in a research note on Wednesday, April 2nd. Morgan Stanley increased their target price on Corebridge Financial from $32.00 to $37.00 and gave the company an "overweight" rating in a research note on Monday. Finally, Barclays upped their price objective on shares of Corebridge Financial from $36.00 to $38.00 and gave the company an "overweight" rating in a research note on Tuesday, May 6th. 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 data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $37.00.

Corebridge Financial 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.