Yousif Capital Management LLC Raises Holdings in Corebridge Financial, Inc. $CRBG

Yousif Capital Management LLC increased its stake in Corebridge Financial, Inc. (NYSE:CRBG) by 873.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 88,066 shares of the company’s stock after acquiring an additional 79,018 shares during the period. Yousif Capital Management LLC’s holdings in Corebridge Financial were worth $2,591,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its position in Corebridge Financial by 7.2% in the third quarter. Vanguard Group Inc. now owns 26,831,915 shares of the company’s stock worth $859,963,000 after acquiring an additional 1,805,819 shares in the last quarter. Pzena Investment Management LLC grew its position in Corebridge Financial by 19.3% in the third quarter. Pzena Investment Management LLC now owns 22,329,199 shares of the company’s stock worth $715,651,000 after acquiring an additional 3,605,498 shares in the last quarter. Dimensional Fund Advisors LP grew its position in Corebridge Financial by 6.9% in the third quarter. Dimensional Fund Advisors LP now owns 6,686,747 shares of the company’s stock worth $214,372,000 after acquiring an additional 430,308 shares in the last quarter. LSV Asset Management grew its position in Corebridge Financial by 2.1% in the third quarter. LSV Asset Management now owns 4,685,535 shares of the company’s stock worth $150,171,000 after acquiring an additional 98,435 shares in the last quarter. Finally, Bank of America Corp DE grew its position in Corebridge Financial by 42.8% in the second quarter. Bank of America Corp DE now owns 2,884,599 shares of the company’s stock worth $102,403,000 after acquiring an additional 864,946 shares in the last quarter. Hedge funds and other institutional investors own 98.25% of the company’s stock.

Corebridge Financial Stock Down 0.1%

Shares of NYSE:CRBG opened at $24.43 on Monday. Corebridge Financial, Inc. has a 1 year low of $22.19 and a 1 year high of $36.57. The business has a 50 day simple moving average of $26.48 and a two-hundred day simple moving average of $29.25. The firm has a market capitalization of $11.77 billion, a PE ratio of -46.08, a price-to-earnings-growth ratio of 0.39 and a beta of 1.12. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.12 and a quick ratio of 0.12.

Corebridge Financial (NYSE:CRBG) last announced its earnings results on Wednesday, February 11th. The company reported $1.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.11 by $0.11. Corebridge Financial had a positive return on equity of 18.92% and a negative net margin of 1.73%.The business had revenue of $6.34 billion during the quarter, compared to analyst estimates of $5.02 billion. During the same quarter in the previous year, the business earned $1.06 earnings per share. On average, equities analysts predict that Corebridge Financial, Inc. will post 5.43 EPS for the current year.

Corebridge Financial Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Tuesday, March 17th were paid a dividend of $0.25 per share. This is a boost from Corebridge Financial’s previous quarterly dividend of $0.24. This represents a $1.00 annualized dividend and a dividend yield of 4.1%. The ex-dividend date of this dividend was Tuesday, March 17th. Corebridge Financial’s payout ratio is presently -188.68%.

Analyst Ratings Changes

Several research analysts recently commented on CRBG shares. Wells Fargo & Company dropped their price target on Corebridge Financial from $36.00 to $32.00 and set an “overweight” rating for the company in a research report on Friday. Weiss Ratings lowered Corebridge Financial from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday, January 15th. Zacks Research upgraded Corebridge Financial from a “strong sell” rating to a “hold” rating in a research report on Friday, March 6th. Barclays dropped their target price on Corebridge Financial from $33.00 to $30.00 and set an “overweight” rating for the company in a research report on Wednesday, April 8th. Finally, Mizuho assumed coverage on Corebridge Financial in a research report on Tuesday, December 16th. They set an “outperform” rating and a $38.00 target price for the company. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and six have given a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $35.55.

Corebridge Financial Profile

Corebridge Financial (NYSE: CRBG) is a publicly traded provider of retirement, life insurance and asset management solutions. Formed from the separation of American International Group’s life and retirement operations, Corebridge focuses on helping individuals, employers and institutions manage retirement income, protect against longevity and mortality risks, and invest long-term savings. The company operates under a unified brand that brings together insurance products and investment capabilities to deliver integrated financial solutions.

Corebridge’s product suite includes retirement income and annuity products, individual and group life insurance, asset management and investment advisory services, and employer-sponsored retirement plan offerings.