Treasurer of the State of North Carolina lifted its stake in shares of Corebridge Financial, Inc. (NYSE:CRBG - Free Report) by 10.7% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 129,985 shares of the company's stock after acquiring an additional 12,579 shares during the period. Treasurer of the State of North Carolina's holdings in Corebridge Financial were worth $3,890,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also bought and sold shares of the company. Fortitude Family Office LLC acquired a new stake in Corebridge Financial in the 4th quarter valued at $27,000. FNY Investment Advisers LLC acquired a new position in shares of Corebridge Financial during the fourth quarter valued at about $27,000. Smartleaf Asset Management LLC increased its position in shares of Corebridge Financial by 112.4% during the fourth quarter. Smartleaf Asset Management LLC now owns 907 shares of the company's stock worth $27,000 after acquiring an additional 480 shares in the last quarter. Oarsman Capital Inc. acquired a new stake in shares of Corebridge Financial in the 4th quarter worth about $30,000. Finally, Blue Trust Inc. lifted its position in Corebridge Financial by 183.2% in the 4th quarter. Blue Trust Inc. now owns 1,127 shares of the company's stock valued at $33,000 after acquiring an additional 729 shares in the last quarter. 98.25% of the stock is owned by institutional investors.
Analyst Ratings Changes
Several analysts have recently commented on CRBG shares. Wells Fargo & Company lowered their price objective on Corebridge Financial from $38.00 to $35.00 and set an "overweight" rating for the company in a research note on Thursday, April 10th. UBS Group lowered Corebridge Financial from a "buy" rating to a "sell" rating and lowered their price target for the company from $40.00 to $28.00 in a research report on Wednesday, April 2nd. Piper Sandler upped their target price on shares of Corebridge Financial from $35.00 to $38.00 and gave the stock an "overweight" rating in a research note on Wednesday, April 2nd. Morgan Stanley dropped their price target on shares of Corebridge Financial from $43.00 to $32.00 and set an "overweight" rating on the stock in a research report on Thursday, April 10th. Finally, BMO Capital Markets assumed coverage on shares of Corebridge Financial in a report on Thursday, January 23rd. They set an "outperform" rating and a $43.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and eleven have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $36.15.
Get Our Latest Stock Report on Corebridge Financial
Corebridge Financial Price Performance
CRBG traded down $0.43 during trading on Monday, reaching $27.28. The stock had a trading volume of 376,557 shares, compared to its average volume of 3,570,394. 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 business has a 50-day moving average of $31.00 and a 200-day moving average of $31.21. Corebridge Financial, Inc. has a one year low of $23.69 and a one year high of $35.36. The stock has a market cap of $15.16 billion, a PE ratio of 7.21, a PEG ratio of 0.43 and a beta of 0.98.
Corebridge Financial (NYSE:CRBG - Get Free Report) last announced its quarterly earnings data on Wednesday, February 12th. The company reported $1.23 earnings per share for the quarter, missing analysts' consensus estimates of $1.27 by ($0.04). Corebridge Financial had a net margin of 11.39% and a return on equity of 22.69%. As a group, equities research analysts anticipate that Corebridge Financial, Inc. will post 5.43 EPS for the current fiscal year.
Corebridge Financial Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 17th were paid a $0.24 dividend. The ex-dividend date was Monday, March 17th. This is an increase from Corebridge Financial's previous quarterly dividend of $0.23. This represents a $0.96 annualized dividend and a yield of 3.52%. Corebridge Financial's payout ratio is currently 25.40%.
Corebridge Financial Company Profile
(
Free Report)
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.
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