Truist Financial Corp Has $1.86 Million Stock Holdings in Corebridge Financial, Inc. (NYSE:CRBG)

Truist Financial Corp cut its stake in shares of Corebridge Financial, Inc. (NYSE:CRBG - Free Report) by 44.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 85,796 shares of the company's stock after selling 67,625 shares during the quarter. Truist Financial Corp's holdings in Corebridge Financial were worth $1,858,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. Factory Mutual Insurance Co. grew its position in Corebridge Financial by 47.1% during the 4th quarter. Factory Mutual Insurance Co. now owns 1,028,200 shares of the company's stock worth $22,271,000 after acquiring an additional 329,200 shares during the last quarter. Vanguard Group Inc. grew its holdings in Corebridge Financial by 10.1% in the third quarter. Vanguard Group Inc. now owns 17,064,429 shares of the company's stock worth $337,022,000 after purchasing an additional 1,566,275 shares during the period. New York State Common Retirement Fund increased its stake in shares of Corebridge Financial by 25.8% during the fourth quarter. New York State Common Retirement Fund now owns 180,853 shares of the company's stock valued at $3,917,000 after purchasing an additional 37,040 shares in the last quarter. Artemis Investment Management LLP purchased a new position in shares of Corebridge Financial during the fourth quarter valued at approximately $18,378,000. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Corebridge Financial by 90.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,382,574 shares of the company's stock worth $27,306,000 after purchasing an additional 656,440 shares in the last quarter. Hedge funds and other institutional investors own 98.25% of the company's stock.

Analyst Ratings Changes

A number of brokerages have issued reports on CRBG. Wells Fargo & Company lifted their price objective on Corebridge Financial from $33.00 to $34.00 and gave the company an "overweight" rating in a research note on Friday. Morgan Stanley increased 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. Piper Sandler lifted their target price on shares of Corebridge Financial from $34.00 to $35.00 and gave the stock an "overweight" rating in a report on Monday. Keefe, Bruyette & Woods increased their price target on shares of Corebridge Financial from $35.00 to $38.00 and gave the company an "outperform" rating in a report on Wednesday, April 10th. Finally, Evercore ISI boosted their price objective on shares of Corebridge Financial from $30.00 to $32.00 and gave the stock an "outperform" rating in a report on Thursday, April 11th. Three equities 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, the company has an average rating of "Moderate Buy" and an average price target of $29.25.

Corebridge Financial Stock Performance

Shares of Corebridge Financial stock traded down $0.70 during trading hours on Friday, reaching $29.55. 3,408,425 shares of the stock traded hands, compared to its average volume of 4,259,794. The company has a 50 day moving average price of $27.05 and a 200 day moving average price of $23.93. Corebridge Financial, Inc. has a one year low of $16.13 and a one year high of $30.98. The company has a quick ratio of 0.14, a current ratio of 0.14 and a debt-to-equity ratio of 0.92. The firm has a market capitalization of $18.40 billion, a price-to-earnings ratio of 7.89, a P/E/G ratio of 0.33 and a beta of 0.96.

Corebridge Financial (NYSE:CRBG - Get Free Report) last released its quarterly earnings results 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. Corebridge Financial had a net margin of 11.25% and a return on equity of 24.31%. The business had revenue of $5.85 billion for the quarter, compared to the consensus estimate of $5.50 billion. During the same period last year, the firm earned $0.97 earnings per share. On average, equities research analysts expect that Corebridge Financial, Inc. will post 4.82 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 Friday, June 28th. Stockholders of record on Friday, June 14th will be paid a $0.23 dividend. The ex-dividend date of this dividend is Friday, June 14th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 3.11%. Corebridge Financial's dividend payout ratio (DPR) is presently 24.21%.

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.