Charles Schwab Investment Management Inc. Has $43.36 Million Stock Holdings in Corebridge Financial, Inc. (NYSE:CRBG)

Charles Schwab Investment Management Inc. increased its position in shares of Corebridge Financial, Inc. (NYSE:CRBG - Free Report) by 44.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,001,915 shares of the company's stock after buying an additional 619,341 shares during the period. Charles Schwab Investment Management Inc. owned about 0.32% of Corebridge Financial worth $43,361,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CRBG. Maryland State Retirement & Pension System acquired a new stake in shares of Corebridge Financial during the fourth quarter worth approximately $385,000. Amalgamated Bank raised its stake in shares of Corebridge Financial by 60.6% in the 4th quarter. Amalgamated Bank now owns 48,050 shares of the company's stock valued at $1,041,000 after purchasing an additional 18,137 shares in the last quarter. Victory Capital Management Inc. raised its stake in shares of Corebridge Financial by 66.4% in the 4th quarter. Victory Capital Management Inc. now owns 1,464,923 shares of the company's stock valued at $31,730,000 after purchasing an additional 584,809 shares in the last quarter. Headlands Technologies LLC bought a new position in shares of Corebridge Financial during the fourth quarter worth about $65,000. Finally, Jackson Hole Capital Partners LLC acquired a new position in Corebridge Financial in the fourth quarter worth about $210,000. 98.25% of the stock is owned by hedge funds and other institutional investors.

Corebridge Financial Stock Performance

Shares of CRBG traded down $1.21 during mid-day trading on Friday, reaching $31.30. 10,012,830 shares of the company's stock traded hands, compared to its average volume of 4,903,987. Corebridge Financial, Inc. has a 12 month low of $16.13 and a 12 month high of $34.66. The stock has a market capitalization of $19.14 billion, a P/E ratio of 8.24, a price-to-earnings-growth ratio of 0.34 and a beta of 0.96. The business's 50-day moving average price is $27.78 and its 200-day moving average price is $24.41. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.14 and a current ratio of 0.14.

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

Corebridge Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 14th will be issued a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 2.94%. The ex-dividend date of this dividend is Friday, June 14th. Corebridge Financial's payout ratio is currently 24.21%.

Wall Street Analyst Weigh In

CRBG has been the topic of a number of research analyst reports. Keefe, Bruyette & Woods increased their target price on Corebridge Financial from $35.00 to $38.00 and gave the stock an "outperform" rating in a report on Wednesday, April 10th. Morgan Stanley lifted 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. Wells Fargo & Company increased their target price on shares of Corebridge Financial from $33.00 to $34.00 and gave the stock an "overweight" rating in a report on Friday, May 10th. Royal Bank of Canada reaffirmed an "outperform" rating and set a $32.00 price objective on shares of Corebridge Financial in a research report on Friday, April 12th. Finally, Piper Sandler raised 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, May 6th. Three investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $29.25.

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.