Mirae Asset Global Investments Co. Ltd. Has $958,000 Stock Position in Corebridge Financial, Inc. (NYSE:CRBG)

Mirae Asset Global Investments Co. Ltd. increased its holdings in Corebridge Financial, Inc. (NYSE:CRBG - Free Report) by 196.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 44,207 shares of the company's stock after purchasing an additional 29,315 shares during the quarter. Mirae Asset Global Investments Co. Ltd.'s holdings in Corebridge Financial were worth $958,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in CRBG. Counterpoint Mutual Funds LLC bought a new stake in shares of Corebridge Financial in the 3rd quarter worth approximately $104,000. Commonwealth Equity Services LLC acquired a new stake in shares of Corebridge Financial during the third quarter valued at approximately $391,000. Raymond James & Associates raised its holdings in shares of Corebridge Financial by 11.7% during the third quarter. Raymond James & Associates now owns 37,003 shares of the company's stock valued at $731,000 after acquiring an additional 3,886 shares during the period. Bank of New York Mellon Corp raised its holdings in shares of Corebridge Financial by 59.5% during the third quarter. Bank of New York Mellon Corp now owns 451,817 shares of the company's stock valued at $8,923,000 after acquiring an additional 168,569 shares during the period. Finally, Mackenzie Financial Corp raised its holdings in shares of Corebridge Financial by 29.2% during the third quarter. Mackenzie Financial Corp now owns 571,589 shares of the company's stock valued at $11,186,000 after acquiring an additional 129,086 shares during the period. 98.25% of the stock is currently owned by institutional investors.

Corebridge Financial Stock Performance

NYSE:CRBG traded down $0.16 during trading hours on Wednesday, hitting $27.17. 3,346,108 shares of the company traded hands, compared to its average volume of 4,237,861. The stock has a market capitalization of $16.91 billion, a price-to-earnings ratio of 16.08, a P/E/G ratio of 0.32 and a beta of 0.86. Corebridge Financial, Inc. has a twelve month low of $14.91 and a twelve month high of $29.40. The firm has a 50-day moving average of $26.34 and a 200 day moving average of $23.39. The company has a current ratio of 0.14, a quick ratio of 0.14 and a debt-to-equity ratio of 0.92.

Corebridge Financial (NYSE:CRBG - Get Free Report) last released its earnings results on Thursday, February 15th. The company reported $1.04 EPS for the quarter, beating the consensus estimate of $0.99 by $0.05. Corebridge Financial had a net margin of 5.92% and a return on equity of 23.11%. The firm had revenue of $5.92 billion during the quarter, compared to analysts' expectations of $5.65 billion. During the same period in the prior year, the company earned $0.88 EPS. The business's quarterly revenue was up 11.3% compared to the same quarter last year. On average, analysts forecast that Corebridge Financial, Inc. will post 4.82 EPS for the current year.

Corebridge Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were issued a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 3.39%. The ex-dividend date of this dividend was Thursday, March 14th. Corebridge Financial's payout ratio is 54.44%.

Analyst Upgrades and Downgrades

CRBG has been the topic of a number of research analyst reports. Evercore ISI boosted their price objective on shares of Corebridge Financial from $30.00 to $32.00 and gave the company an "outperform" rating in a research report on Thursday, April 11th. UBS Group boosted their price objective on shares of Corebridge Financial from $22.00 to $28.00 and gave the company a "buy" rating in a research report on Wednesday, January 10th. Keefe, Bruyette & Woods boosted their price objective on shares of Corebridge Financial from $35.00 to $38.00 and gave the company an "outperform" rating in a research report on Wednesday, April 10th. Piper Sandler boosted their price objective on shares of Corebridge Financial from $30.00 to $34.00 and gave the company an "overweight" rating in a research report on Friday, April 5th. Finally, Morgan Stanley boosted their price objective on shares of Corebridge Financial from $26.00 to $28.00 and gave the company an "equal weight" rating in a research report on Monday, April 15th. Three research analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $29.08.

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.