New Century Financial Group LLC Buys New Stake in Corebridge Financial, Inc. (NYSE:CRBG)

New Century Financial Group LLC acquired a new stake in shares of Corebridge Financial, Inc. (NYSE:CRBG - Free Report) during the 4th quarter, according to its most recent disclosure with the SEC. The fund acquired 46,612 shares of the company's stock, valued at approximately $1,010,000. Corebridge Financial makes up about 0.9% of New Century Financial Group LLC's portfolio, making the stock its 26th biggest position.

Several other large investors have also bought and sold shares of the company. Vanguard Group Inc. boosted its position in shares of Corebridge Financial by 10.1% in the 3rd 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 in the last quarter. Massachusetts Financial Services Co. MA boosted its position in shares of Corebridge Financial by 29.3% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 6,048,383 shares of the company's stock worth $131,008,000 after purchasing an additional 1,371,667 shares in the last quarter. Jacobs Levy Equity Management Inc. boosted its position in shares of Corebridge Financial by 960.9% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 1,417,518 shares of the company's stock worth $27,996,000 after purchasing an additional 1,283,901 shares in the last quarter. Artemis Investment Management LLP bought a new stake in shares of Corebridge Financial in the 4th quarter worth approximately $18,378,000. Finally, Victory Capital Management Inc. boosted its position in shares of Corebridge Financial by 1,197.0% in the 3rd quarter. Victory Capital Management Inc. now owns 880,114 shares of the company's stock worth $17,382,000 after purchasing an additional 812,257 shares in the last quarter. 98.25% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on CRBG. Keefe, Bruyette & Woods boosted their price objective on shares of Corebridge Financial from $35.00 to $38.00 and gave the stock an "outperform" rating in a report on Wednesday, April 10th. 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. Piper Sandler boosted their price objective on shares of Corebridge Financial from $34.00 to $35.00 and gave the stock an "overweight" rating in a report on Monday, May 6th. Royal Bank of Canada restated an "outperform" rating and issued a $32.00 price objective on shares of Corebridge Financial in a report on Friday, April 12th. Finally, Morgan Stanley boosted their price objective on shares of Corebridge Financial from $26.00 to $28.00 and gave the stock an "equal weight" rating in a report on Monday, April 15th. Three research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $29.25.

Corebridge Financial Price Performance

Corebridge Financial stock traded down $1.21 during mid-day trading on Friday, hitting $31.30. The stock had a trading volume of 10,012,830 shares, compared to its average volume of 4,903,987. The firm's 50 day moving average is $27.78 and its 200 day moving average is $24.38. Corebridge Financial, Inc. has a one year low of $16.13 and a one year high of $34.66. The firm has a market capitalization of $19.14 billion, a P/E ratio of 8.24, a P/E/G ratio of 0.35 and a beta of 0.96. The company has a current ratio of 0.14, a quick ratio of 0.14 and a debt-to-equity ratio of 0.94.

Corebridge Financial (NYSE:CRBG - Get Free Report) last released its quarterly earnings data on Friday, May 3rd. The company reported $1.10 EPS for the quarter, beating the consensus estimate of $1.05 by $0.05. Corebridge Financial had a net margin of 11.25% and a return on equity of 23.64%. The business had revenue of $5.85 billion during the quarter, compared to the consensus estimate of $5.50 billion. During the same quarter in the prior year, the firm earned $0.97 EPS. On average, sell-side analysts forecast that Corebridge Financial, Inc. will post 4.95 earnings per share for the current fiscal year.

Corebridge Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 14th will be given a dividend of $0.23 per share. The ex-dividend date of this dividend is Friday, June 14th. This represents a $0.92 dividend on an annualized basis and a yield of 2.94%. 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.