8,758 Shares in Corebridge Financial, Inc. (NYSE:CRBG) Acquired by Allstate Corp

Allstate Corp purchased a new position in Corebridge Financial, Inc. (NYSE:CRBG - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 8,758 shares of the company's stock, valued at approximately $262,000.

Several other institutional investors also recently modified their holdings of the stock. Fortitude Family Office LLC acquired a new position in shares of Corebridge Financial in the 4th quarter worth $27,000. Smartleaf Asset Management LLC boosted its position in shares of Corebridge Financial by 112.4% in the 4th quarter. Smartleaf Asset Management LLC now owns 907 shares of the company's stock valued at $27,000 after purchasing an additional 480 shares during the period. FNY Investment Advisers LLC acquired a new position in shares of Corebridge Financial in the 4th quarter valued at $27,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in Corebridge Financial in the 3rd quarter worth about $27,000. Finally, Blue Trust Inc. raised its holdings in Corebridge Financial by 183.2% during the 4th quarter. Blue Trust Inc. now owns 1,127 shares of the company's stock worth $33,000 after buying an additional 729 shares during the period. Institutional investors own 98.25% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on CRBG. UBS Group downgraded shares of Corebridge Financial from a "buy" rating to a "sell" rating and dropped their target price for the stock from $40.00 to $28.00 in a research report on Wednesday, April 2nd. BMO Capital Markets initiated coverage on shares of Corebridge Financial in a research note on Thursday, January 23rd. They issued an "outperform" rating and a $43.00 price objective for the company. Deutsche Bank Aktiengesellschaft raised shares of Corebridge Financial from a "hold" rating to a "buy" rating and boosted their target price for the company from $33.00 to $40.00 in a research note on Friday, January 10th. Barclays raised Corebridge Financial from an "equal weight" rating to an "overweight" rating and set a $37.00 target price for the company in a research report on Monday, January 6th. Finally, Piper Sandler upped their price target on Corebridge Financial from $35.00 to $38.00 and gave the company an "overweight" rating in a research report on Wednesday, April 2nd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $37.00.

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Corebridge Financial Stock Down 1.0 %

Shares of Corebridge Financial stock traded down $0.25 during trading on Monday, hitting $25.47. 5,018,709 shares of the stock traded hands, compared to its average volume of 3,561,694. The company has a fifty day moving average price of $32.33 and a two-hundred day moving average price of $31.34. Corebridge Financial, Inc. has a twelve month low of $23.69 and a twelve month high of $35.36. The stock has a market cap of $14.16 billion, a P/E ratio of 6.74, a PEG ratio of 0.43 and a beta of 0.98. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.13 and a current ratio of 0.13.

Corebridge Financial (NYSE:CRBG - Get Free Report) last posted its earnings results on Wednesday, February 12th. The company reported $1.23 EPS for the quarter, missing the consensus estimate of $1.27 by ($0.04). Corebridge Financial had a return on equity of 22.69% and a net margin of 11.39%. Equities research analysts predict that Corebridge Financial, Inc. will post 5.43 EPS for the current fiscal year.

Corebridge Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 17th were issued a $0.24 dividend. The ex-dividend date of this dividend was Monday, March 17th. This is a boost from Corebridge Financial's previous quarterly dividend of $0.23. This represents a $0.96 dividend on an annualized basis and a yield of 3.77%. Corebridge Financial's dividend payout ratio is currently 25.40%.

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.