Corebridge Financial, Inc. (NYSE:CRBG) Shares Acquired by Worldquant Millennium Advisors LLC

Worldquant Millennium Advisors LLC lifted its position in shares of Corebridge Financial, Inc. (NYSE:CRBG) by 20.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 10,560 shares of the company’s stock after buying an additional 1,788 shares during the period. Worldquant Millennium Advisors LLC’s holdings in Corebridge Financial were worth $316,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in CRBG. Nippon Life Insurance Co. acquired a new stake in shares of Corebridge Financial during the 4th quarter worth $3,650,151,000. Norges Bank purchased a new position in Corebridge Financial in the fourth quarter valued at approximately $283,212,000. Price T Rowe Associates Inc. MD raised its holdings in Corebridge Financial by 31.2% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 32,961,533 shares of the company’s stock valued at $986,539,000 after buying an additional 7,828,929 shares during the period. Wellington Management Group LLP raised its holdings in Corebridge Financial by 4,624.2% in the fourth quarter. Wellington Management Group LLP now owns 3,707,960 shares of the company’s stock valued at $110,979,000 after buying an additional 3,629,472 shares during the period. Finally, Pzena Investment Management LLC raised its holdings in Corebridge Financial by 222.9% in the fourth quarter. Pzena Investment Management LLC now owns 4,638,455 shares of the company’s stock valued at $138,829,000 after buying an additional 3,202,145 shares during the period. 98.25% of the stock is currently owned by institutional investors and hedge funds.

Corebridge Financial Trading Down 0.1%

Shares of CRBG opened at $31.68 on Friday. The company has a market capitalization of $17.41 billion, a P/E ratio of 8.38, a P/E/G ratio of 0.43 and a beta of 1.01. Corebridge Financial, Inc. has a one year low of $23.69 and a one year high of $35.36. 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 stock has a 50-day moving average price of $30.17 and a 200 day moving average price of $31.18.

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

Corebridge Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 16th will be given a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 3.03%. The ex-dividend date of this dividend is Monday, June 16th. Corebridge Financial’s dividend payout ratio is currently 81.36%.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on CRBG shares. Keefe, Bruyette & Woods raised their price target on shares of Corebridge Financial from $37.00 to $39.00 and gave the company an “outperform” rating in a report on Wednesday, May 7th. Barclays raised their price target on shares of Corebridge Financial from $36.00 to $38.00 and gave the company an “overweight” rating in a report on Tuesday, May 6th. Wells Fargo & Company raised their price target 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. Morgan Stanley raised their price objective on Corebridge Financial from $32.00 to $37.00 and gave the company an “overweight” rating in a research report on Monday. Finally, BMO Capital Markets assumed coverage on Corebridge Financial in a research report on Thursday, January 23rd. They issued an “outperform” rating and a $43.00 price objective on the stock. Two research analysts have rated the stock with a sell rating, two have given a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, Corebridge Financial presently has a consensus rating of “Moderate Buy” and a consensus price target of $37.00.

About Corebridge Financial

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.