Corebridge Financial, Inc. (NYSE:CRBG) Shares Purchased by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Corebridge Financial, Inc. (NYSE:CRBG) by 0.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,659,829 shares of the company’s stock after acquiring an additional 4,666 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.29% of Corebridge Financial worth $49,679,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Voloridge Investment Management LLC increased its stake in shares of Corebridge Financial by 96.2% in the fourth quarter. Voloridge Investment Management LLC now owns 1,510,593 shares of the company’s stock worth $45,212,000 after acquiring an additional 740,736 shares during the period. Worldquant Millennium Advisors LLC raised its position in Corebridge Financial by 20.4% during the fourth quarter. Worldquant Millennium Advisors LLC now owns 10,560 shares of the company’s stock valued at $316,000 after acquiring an additional 1,788 shares in the last quarter. Squarepoint Ops LLC raised its position in Corebridge Financial by 106.8% during the fourth quarter. Squarepoint Ops LLC now owns 1,088,442 shares of the company’s stock valued at $32,577,000 after acquiring an additional 562,022 shares in the last quarter. Tidal Investments LLC raised its position in Corebridge Financial by 6.5% during the fourth quarter. Tidal Investments LLC now owns 33,853 shares of the company’s stock valued at $1,013,000 after acquiring an additional 2,073 shares in the last quarter. Finally, State of Wyoming raised its position in Corebridge Financial by 10.9% during the fourth quarter. State of Wyoming now owns 17,067 shares of the company’s stock valued at $511,000 after acquiring an additional 1,673 shares in the last quarter. Institutional investors and hedge funds own 98.25% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently weighed in on CRBG shares. Morgan Stanley lifted their price target on Corebridge Financial from $32.00 to $37.00 and gave the company an “overweight” rating in a research report on Monday, May 19th. Piper Sandler upped their price objective on shares of Corebridge Financial from $35.00 to $38.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 2nd. Wall Street Zen downgraded shares of Corebridge Financial from a “hold” rating to a “sell” rating in a research report on Thursday. UBS Group downgraded shares of Corebridge Financial from a “buy” rating to a “sell” rating and decreased their price objective for the stock from $40.00 to $28.00 in a research report on Wednesday, April 2nd. Finally, Keefe, Bruyette & Woods upped their price objective on shares of Corebridge Financial from $37.00 to $39.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 7th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $37.00.

Corebridge Financial Trading Up 0.5%

CRBG stock opened at $31.80 on Monday. The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 0.16. Corebridge Financial, Inc. has a 12-month low of $23.69 and a 12-month high of $35.36. The stock has a market cap of $17.48 billion, a price-to-earnings ratio of 8.41, a PEG ratio of 0.43 and a beta of 1.01. The business’s 50-day moving average is $30.16 and its 200 day moving average is $31.17.

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

Corebridge Financial Dividend Announcement

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