Caisse Des Depots ET Consignations Purchases Shares of 18,952 Corebridge Financial, Inc. (NYSE:CRBG)

Caisse Des Depots ET Consignations bought a new stake in shares of Corebridge Financial, Inc. (NYSE:CRBG - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 18,952 shares of the company's stock, valued at approximately $567,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Nippon Life Insurance Co. bought a new stake in Corebridge Financial during the fourth quarter worth about $3,650,151,000. Vanguard Group Inc. boosted its position in shares of Corebridge Financial by 3.1% in the 4th quarter. Vanguard Group Inc. now owns 23,925,256 shares of the company's stock worth $716,083,000 after purchasing an additional 711,857 shares in the last quarter. State Street Corp grew its stake in shares of Corebridge Financial by 11.7% in the 3rd quarter. State Street Corp now owns 8,035,438 shares of the company's stock worth $234,313,000 after buying an additional 843,559 shares during the last quarter. FMR LLC increased its position in Corebridge Financial by 13.5% during the 3rd quarter. FMR LLC now owns 5,030,104 shares of the company's stock valued at $146,678,000 after buying an additional 598,373 shares in the last quarter. Finally, Pzena Investment Management LLC raised its stake in Corebridge Financial by 222.9% during 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 last quarter. 98.25% of the stock is owned by hedge funds and other institutional investors.

Corebridge Financial Stock Performance

Shares of Corebridge Financial stock traded up $0.07 during trading hours on Tuesday, reaching $31.64. 399,327 shares of the stock traded hands, compared to its average volume of 2,953,665. Corebridge Financial, Inc. has a one year low of $23.97 and a one year high of $35.36. The firm has a market capitalization of $17.59 billion, a price-to-earnings ratio of 8.37, a P/E/G ratio of 0.43 and a beta of 0.92. The company has a quick ratio of 0.13, a current ratio of 0.13 and a debt-to-equity ratio of 0.16. The company has a 50 day moving average price of $32.73 and a 200 day moving average price of $31.29.

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Corebridge Financial (NYSE:CRBG - Get Free Report) last announced its earnings results on Wednesday, February 12th. The company reported $1.23 EPS 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%. On average, equities research analysts expect that Corebridge Financial, Inc. will post 5.43 earnings per share for the current fiscal year.

Corebridge Financial Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 17th were given a dividend of $0.24 per share. The ex-dividend date of this dividend 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 3.03%. Corebridge Financial's payout ratio is 25.40%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on CRBG shares. Wells Fargo & Company raised their price target on Corebridge Financial from $35.00 to $38.00 and gave the company an "overweight" rating in a report on Wednesday, February 19th. Piper Sandler raised their price objective on shares of Corebridge Financial from $34.00 to $35.00 and gave the company an "overweight" rating in a research note on Wednesday, December 18th. Deutsche Bank Aktiengesellschaft upgraded shares of Corebridge Financial from a "hold" rating to a "buy" rating and upped their target price for the stock from $33.00 to $40.00 in a research note on Friday, January 10th. BMO Capital Markets started 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. Finally, Barclays upgraded shares of Corebridge Financial from an "equal weight" rating to an "overweight" rating and set a $37.00 price objective for the company in a report on Monday, January 6th. Two equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, Corebridge Financial presently has an average rating of "Moderate Buy" and a consensus target price of $37.29.

Corebridge Financial 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.