Nuveen Asset Management LLC Grows Holdings in Corebridge Financial, Inc. (NYSE:CRBG)

Nuveen Asset Management LLC lifted its stake in shares of Corebridge Financial, Inc. (NYSE:CRBG - Free Report) by 0.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 3,137,964 shares of the company's stock after acquiring an additional 20,637 shares during the quarter. Nuveen Asset Management LLC owned approximately 0.55% of Corebridge Financial worth $93,919,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. OMERS ADMINISTRATION Corp grew its stake in shares of Corebridge Financial by 21.9% during the 4th quarter. OMERS ADMINISTRATION Corp now owns 10,640 shares of the company's stock valued at $318,000 after acquiring an additional 1,914 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Corebridge Financial by 88.1% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 96,872 shares of the company's stock worth $2,899,000 after acquiring an additional 45,363 shares during the period. Jacobs Levy Equity Management Inc. boosted its stake in shares of Corebridge Financial by 34.6% in the fourth quarter. Jacobs Levy Equity Management Inc. now owns 4,803,433 shares of the company's stock worth $143,767,000 after acquiring an additional 1,235,796 shares during the period. Janus Henderson Group PLC bought a new stake in Corebridge Financial during the 4th quarter valued at approximately $760,000. Finally, Hudson Bay Capital Management LP bought a new stake in Corebridge Financial during the 4th quarter valued at approximately $11,972,000. 98.25% of the stock is currently owned by institutional investors.

Corebridge Financial Trading Up 0.2%

Shares of NYSE CRBG traded up $0.05 during trading hours on Tuesday, hitting $32.94. 3,478,392 shares of the company traded hands, compared to its average volume of 3,409,160. The stock has a market capitalization of $18.11 billion, a price-to-earnings ratio of 8.71, a price-to-earnings-growth ratio of 0.43 and a beta of 1.01. 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 company's 50 day moving average price is $30.14 and its 200 day moving average price is $31.16. Corebridge Financial, Inc. has a 12 month low of $23.69 and a 12 month high of $35.36.

Corebridge Financial (NYSE:CRBG - Get Free Report) last released its earnings results on Monday, May 5th. The company reported $1.16 earnings per share for the quarter, beating the consensus estimate of $1.15 by $0.01. The firm had revenue of $4.74 billion for the quarter, compared to the consensus estimate of $5.28 billion. Corebridge Financial had a return on equity of 22.69% and a net margin of 11.39%. During the same quarter in the previous year, the company posted $1.10 EPS. On average, equities research analysts anticipate that Corebridge Financial, Inc. will post 5.43 earnings per share for the current fiscal year.

Corebridge Financial Dividend Announcement

The company 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 $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 2.91%. The ex-dividend date of this dividend is Monday, June 16th. Corebridge Financial's payout ratio is currently 81.36%.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. Morgan Stanley increased their price objective on shares of Corebridge Financial from $32.00 to $37.00 and gave the company an "overweight" rating in a report on Monday. Piper Sandler raised their target price on shares of Corebridge Financial from $35.00 to $38.00 and gave the company an "overweight" rating in a research note on Wednesday, April 2nd. BMO Capital Markets assumed coverage on shares of Corebridge Financial in a report on Thursday, January 23rd. They issued an "outperform" rating and a $43.00 price target on the stock. Barclays increased their price objective on shares of Corebridge Financial from $36.00 to $38.00 and gave the company an "overweight" rating in a report on Tuesday, May 6th. Finally, Keefe, Bruyette & Woods lifted their target price on Corebridge Financial from $37.00 to $39.00 and gave the stock an "outperform" rating in a report on Wednesday, May 7th. One analyst has rated the stock with a sell rating, two have given a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target 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.