Corebridge Financial, Inc. (NYSE:CRBG) Shares Acquired by Css LLC Il

Css LLC Il lifted its holdings in Corebridge Financial, Inc. (NYSE:CRBG) by 22.2% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 21,391 shares of the company’s stock after purchasing an additional 3,891 shares during the period. Css LLC Il’s holdings in Corebridge Financial were worth $640,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. New York Life Investment Management LLC purchased a new position in Corebridge Financial in the 4th quarter valued at approximately $781,000. Raymond James Financial Inc. purchased a new position in Corebridge Financial in the fourth quarter valued at $31,844,000. Barclays PLC grew its stake in Corebridge Financial by 20.0% during the 3rd quarter. Barclays PLC now owns 358,035 shares of the company’s stock worth $10,441,000 after purchasing an additional 59,702 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. grew its stake in Corebridge Financial by 4.3% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 504,261 shares of the company’s stock worth $15,093,000 after purchasing an additional 20,783 shares in the last quarter. Finally, KBC Group NV increased its holdings in Corebridge Financial by 77.9% during the 4th quarter. KBC Group NV now owns 1,222,448 shares of the company’s stock worth $36,588,000 after purchasing an additional 535,323 shares during the period. Institutional investors and hedge funds own 98.25% of the company’s stock.

Wall Street Analysts Forecast Growth

CRBG has been the subject of several recent research reports. BMO Capital Markets assumed coverage on Corebridge Financial in a research note on Thursday, January 23rd. They issued an “outperform” rating and a $43.00 price objective for the company. Wells Fargo & Company raised their target price on shares of Corebridge Financial from $35.00 to $37.00 and gave the company an “overweight” rating in a report on Wednesday, May 7th. Piper Sandler boosted their price target on shares of Corebridge Financial from $35.00 to $38.00 and gave the stock an “overweight” rating in a report on Wednesday, April 2nd. Keefe, Bruyette & Woods increased their price objective on shares of Corebridge Financial from $37.00 to $39.00 and gave the company an “outperform” rating in a research report on Wednesday, May 7th. Finally, Barclays lifted their price objective on shares of Corebridge Financial from $36.00 to $38.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 6th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $37.00.

Corebridge Financial Price Performance

Shares of NYSE:CRBG opened at $31.79 on Thursday. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.13 and a quick ratio of 0.13. Corebridge Financial, Inc. has a 12 month low of $23.69 and a 12 month high of $35.36. The firm has a market capitalization of $17.47 billion, a P/E ratio of 8.41, a P/E/G ratio of 0.43 and a beta of 1.01. The company’s fifty day moving average price is $30.19 and its 200 day moving average price is $31.18.

Corebridge Financial (NYSE:CRBG) last posted its earnings results on Monday, May 5th. The company reported $1.16 earnings per share for the quarter, beating the consensus estimate of $1.15 by $0.01. The business had revenue of $4.74 billion during the quarter, compared to the consensus estimate of $5.28 billion. Corebridge Financial had a return on equity of 22.69% and a net margin of 11.39%. During the same period in the previous year, the business earned $1.10 EPS. As a group, sell-side analysts predict that Corebridge Financial, Inc. will post 5.43 earnings per share for the current fiscal year.

Corebridge Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 16th will be issued a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 3.02%. The ex-dividend date is Monday, June 16th. Corebridge Financial’s payout ratio is currently 81.36%.

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.