Victory Capital Management Inc. Grows Position in Corebridge Financial, Inc. (NYSE:CRBG)

Victory Capital Management Inc. lifted its holdings in shares of Corebridge Financial, Inc. (NYSE:CRBG - Free Report) by 66.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,464,923 shares of the company's stock after purchasing an additional 584,809 shares during the quarter. Victory Capital Management Inc. owned approximately 0.23% of Corebridge Financial worth $31,730,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the stock. EverSource Wealth Advisors LLC bought a new position in Corebridge Financial in the 3rd quarter worth $28,000. Cullen Frost Bankers Inc. bought a new stake in Corebridge Financial during the 3rd quarter valued at approximately $55,000. Headlands Technologies LLC acquired a new stake in Corebridge Financial in the 4th quarter valued at approximately $65,000. Loomis Sayles & Co. L P increased its position in Corebridge Financial by 1,450.9% in the 3rd quarter. Loomis Sayles & Co. L P now owns 6,576 shares of the company's stock worth $130,000 after buying an additional 6,152 shares during the period. Finally, CI Investments Inc. boosted its position in shares of Corebridge Financial by 7,879.8% in the third quarter. CI Investments Inc. now owns 9,097 shares of the company's stock valued at $180,000 after acquiring an additional 8,983 shares during the period. 98.25% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on CRBG shares. Piper Sandler upped their target price on shares of Corebridge Financial from $34.00 to $35.00 and gave the company an "overweight" rating in a research note on Monday. UBS Group lifted their target price on Corebridge Financial from $22.00 to $28.00 and gave the stock a "buy" rating in a research report on Wednesday, January 10th. Morgan Stanley lifted their price objective on Corebridge Financial from $26.00 to $28.00 and gave the stock an "equal weight" rating in a report on Monday, April 15th. Wells Fargo & Company raised their target price on Corebridge Financial from $30.00 to $33.00 and gave the stock an "overweight" rating in a research report on Thursday, April 11th. Finally, Keefe, Bruyette & Woods upped their target price on shares of Corebridge Financial from $35.00 to $38.00 and gave the company an "outperform" rating in a research note on Wednesday, April 10th. Three investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, Corebridge Financial currently has a consensus rating of "Moderate Buy" and a consensus price target of $29.17.

Corebridge Financial Price Performance

Shares of NYSE CRBG traded up $0.78 during trading on Wednesday, reaching $30.82. The company had a trading volume of 4,606,830 shares, compared to its average volume of 4,273,986. The stock has a market cap of $19.19 billion, a PE ratio of 8.11, a PEG ratio of 0.33 and a beta of 0.96. Corebridge Financial, Inc. has a 52 week low of $16.13 and a 52 week high of $30.85. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.14 and a current ratio of 0.14. The business's 50 day moving average price is $26.81 and its 200-day moving average price is $23.84.

Corebridge Financial (NYSE:CRBG - Get Free Report) last announced its quarterly earnings data on Friday, May 3rd. The company reported $1.10 earnings per share for the quarter, topping the consensus estimate of $1.05 by $0.05. The firm had revenue of $5.85 billion during the quarter, compared to analysts' expectations of $5.50 billion. Corebridge Financial had a return on equity of 24.31% and a net margin of 11.25%. During the same period in the previous year, the business posted $0.97 EPS. Analysts expect that Corebridge Financial, Inc. will post 4.82 earnings per share for the current year.

Corebridge Financial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 14th will be paid a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 2.99%. The ex-dividend date is Friday, June 14th. Corebridge Financial's payout ratio is 24.21%.

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.