Corebridge Financial, Inc. (NYSE:CRBG) Shares Sold by Stifel Financial Corp

Stifel Financial Corp cut its holdings in shares of Corebridge Financial, Inc. (NYSE:CRBG - Free Report) by 31.5% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 90,930 shares of the company's stock after selling 41,894 shares during the period. Stifel Financial Corp's holdings in Corebridge Financial were worth $2,721,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of CRBG. MetLife Investment Management LLC lifted its position in shares of Corebridge Financial by 16.0% during the fourth quarter. MetLife Investment Management LLC now owns 5,193 shares of the company's stock valued at $155,000 after buying an additional 715 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in Corebridge Financial by 16.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 5,457,441 shares of the company's stock valued at $163,344,000 after acquiring an additional 770,255 shares during the last quarter. First Trust Advisors LP boosted its stake in Corebridge Financial by 26.6% in the fourth quarter. First Trust Advisors LP now owns 4,182,819 shares of the company's stock valued at $125,192,000 after acquiring an additional 877,980 shares in the last quarter. Forum Financial Management LP grew its holdings in Corebridge Financial by 60.2% in the fourth quarter. Forum Financial Management LP now owns 15,730 shares of the company's stock worth $471,000 after purchasing an additional 5,912 shares during the last quarter. Finally, Demars Financial Group LLC purchased a new position in Corebridge Financial in the fourth quarter worth $10,080,000. Institutional investors own 98.25% of the company's stock.

Wall Street Analysts Forecast Growth

CRBG has been the subject of a number of recent analyst reports. Wells Fargo & Company raised their price objective on Corebridge Financial from $35.00 to $37.00 and gave the stock an "overweight" rating in a research report on Wednesday. BMO Capital Markets assumed coverage on Corebridge Financial in a research note on Thursday, January 23rd. They set an "outperform" rating and a $43.00 price target on the stock. Deutsche Bank Aktiengesellschaft raised shares of Corebridge Financial from a "hold" rating to a "buy" rating and increased their price objective for the company from $33.00 to $40.00 in a research report on Friday, January 10th. UBS Group downgraded shares of Corebridge Financial from a "buy" rating to a "sell" rating and dropped their target price for the stock from $40.00 to $28.00 in a research report on Wednesday, April 2nd. Finally, Barclays raised their price target on shares of Corebridge Financial from $36.00 to $38.00 and gave the stock an "overweight" rating in a report on Tuesday. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $36.62.

Corebridge Financial Stock Performance

Corebridge Financial stock traded up $0.07 during midday trading on Wednesday, hitting $31.36. 4,576,274 shares of the company were exchanged, compared to its average volume of 3,510,257. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.13 and a current ratio of 0.13. The firm has a market capitalization of $17.32 billion, a PE ratio of 8.30, a price-to-earnings-growth ratio of 0.43 and a beta of 1.01. The business has a fifty day simple moving average of $30.18 and a two-hundred day simple moving average of $31.14. Corebridge Financial, Inc. has a fifty-two week low of $23.69 and a fifty-two week high of $35.36.

Corebridge Financial (NYSE:CRBG - Get Free Report) last released its quarterly earnings data on Monday, May 5th. The company reported $1.16 earnings per share for the quarter, beating analysts' consensus estimates of $1.15 by $0.01. The company had revenue of $4.74 billion during the quarter, compared to analysts' expectations of $5.28 billion. Corebridge Financial had a net margin of 11.39% and a return on equity of 22.69%. During the same quarter in the previous year, the company earned $1.10 earnings per share. On average, sell-side analysts forecast that Corebridge Financial, Inc. will post 5.43 earnings per share for the current year.

Corebridge Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 16th will be issued a $0.24 dividend. The ex-dividend date of this dividend is Monday, June 16th. This represents a $0.96 dividend on an annualized basis and a yield of 3.06%. Corebridge Financial's payout ratio is 25.40%.

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.