Schroder Investment Management Group Has $7.03 Million Stock Holdings in Corebridge Financial, Inc. (NYSE:CRBG)

Schroder Investment Management Group decreased its position in Corebridge Financial, Inc. (NYSE:CRBG - Free Report) by 77.8% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 234,545 shares of the company's stock after selling 822,788 shares during the period. Schroder Investment Management Group's holdings in Corebridge Financial were worth $7,032,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Allstate Corp purchased a new stake in shares of Corebridge Financial during the 4th quarter worth about $262,000. DnB Asset Management AS grew its holdings in Corebridge Financial by 14.3% in the 4th quarter. DnB Asset Management AS now owns 53,022 shares of the company's stock valued at $1,587,000 after buying an additional 6,630 shares during the last quarter. Pictet Asset Management Holding SA increased its position in Corebridge Financial by 22.0% during the fourth quarter. Pictet Asset Management Holding SA now owns 165,158 shares of the company's stock worth $4,943,000 after acquiring an additional 29,816 shares during the period. Norges Bank acquired a new position in shares of Corebridge Financial during the fourth quarter valued at about $283,212,000. Finally, Caisse Des Depots ET Consignations bought a new stake in shares of Corebridge Financial in the 4th quarter worth approximately $567,000. Hedge funds and other institutional investors own 98.25% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on CRBG. Piper Sandler upped their target price on shares of Corebridge Financial from $35.00 to $38.00 and gave the company an "overweight" rating in a research note on Wednesday, April 2nd. Morgan Stanley raised shares of Corebridge Financial from an "equal weight" rating to an "overweight" rating and increased their price objective for the stock from $35.00 to $43.00 in a report on Friday, February 28th. Deutsche Bank Aktiengesellschaft upgraded Corebridge Financial from a "hold" rating to a "buy" rating and boosted their target price for the stock from $33.00 to $40.00 in a research report on Friday, January 10th. BMO Capital Markets began coverage on shares of Corebridge Financial in a research note on Thursday, January 23rd. They set an "outperform" rating and a $43.00 price target for the company. Finally, UBS Group cut Corebridge Financial from a "buy" rating to a "sell" rating and reduced their target price for the stock from $40.00 to $28.00 in a report on Wednesday, April 2nd. One investment analyst has rated the stock with a sell rating, two have given a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, Corebridge Financial currently has a consensus rating of "Moderate Buy" and an average target price of $36.93.

Corebridge Financial Stock Up 13.8 %

Shares of NYSE:CRBG traded up $3.51 during mid-day trading on Wednesday, reaching $28.92. 6,157,793 shares of the stock were exchanged, compared to its average volume of 3,573,483. The company has a market cap of $16.08 billion, a P/E ratio of 7.65, a P/E/G ratio of 0.43 and a beta of 0.98. Corebridge Financial, Inc. has a one year low of $23.69 and a one year high of $35.36. The stock's 50 day simple moving average is $31.80 and its 200-day simple moving average is $31.26. The company has a quick ratio of 0.13, a current ratio of 0.13 and a debt-to-equity ratio of 0.16.

Corebridge Financial (NYSE:CRBG - Get Free Report) last announced its earnings results on Wednesday, February 12th. The company reported $1.23 EPS for the quarter, missing the consensus estimate of $1.27 by ($0.04). Corebridge Financial had a return on equity of 22.69% and a net margin of 11.39%. As a group, equities research analysts predict that Corebridge Financial, Inc. will post 5.43 EPS for the current year.

Corebridge Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 17th were issued a $0.24 dividend. This is a boost from Corebridge Financial's previous quarterly dividend of $0.23. The ex-dividend date was Monday, March 17th. This represents a $0.96 annualized dividend and a dividend yield of 3.32%. Corebridge Financial's dividend payout ratio (DPR) is presently 25.40%.

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.