Amundi Buys 366,480 Shares of Corebridge Financial, Inc. (NYSE:CRBG)

Amundi raised its stake in Corebridge Financial, Inc. (NYSE:CRBG - Free Report) by 268.4% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 503,010 shares of the company's stock after acquiring an additional 366,480 shares during the period. Amundi owned approximately 0.09% of Corebridge Financial worth $15,769,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of CRBG. Smartleaf Asset Management LLC increased its holdings in shares of Corebridge Financial by 112.4% in the fourth quarter. Smartleaf Asset Management LLC now owns 907 shares of the company's stock worth $27,000 after purchasing an additional 480 shares during the last quarter. Covestor Ltd grew its holdings in Corebridge Financial by 118.8% during the 3rd quarter. Covestor Ltd now owns 1,050 shares of the company's stock valued at $31,000 after buying an additional 570 shares in the last quarter. Sanctuary Advisors LLC increased its stake in Corebridge Financial by 3.1% in the 4th quarter. Sanctuary Advisors LLC now owns 22,182 shares of the company's stock worth $664,000 after acquiring an additional 660 shares during the last quarter. Blue Trust Inc. raised its holdings in shares of 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 acquiring an additional 729 shares in the last quarter. Finally, The Manufacturers Life Insurance Company raised its holdings in shares of Corebridge Financial by 3.4% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 22,211 shares of the company's stock worth $648,000 after acquiring an additional 732 shares in the last quarter. Hedge funds and other institutional investors own 98.25% of the company's stock.

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Analyst Ratings Changes

Several equities research analysts recently weighed in on CRBG shares. TD Cowen boosted their price target on shares of Corebridge Financial from $35.00 to $37.00 and gave the stock a "buy" rating in a research report on Wednesday, November 27th. Piper Sandler lifted their price objective on shares of Corebridge Financial from $34.00 to $35.00 and gave the stock 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 company from $33.00 to $40.00 in a research report on Friday, January 10th. Wells Fargo & Company increased their price target on shares of Corebridge Financial from $35.00 to $38.00 and gave the company an "overweight" rating in a report on Wednesday, February 19th. Finally, BMO Capital Markets assumed coverage on Corebridge Financial in a research note on Thursday, January 23rd. They set an "outperform" rating and a $43.00 price objective on the stock. Two equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $37.29.

Corebridge Financial Trading Up 3.3 %

Shares of NYSE:CRBG traded up $1.06 during trading hours on Monday, hitting $32.61. 3,500,622 shares of the company's stock traded hands, compared to its average volume of 3,537,496. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.13 and a quick ratio of 0.13. The business has a fifty day moving average price of $32.42 and a 200-day moving average price of $30.94. Corebridge Financial, Inc. has a 1 year low of $23.97 and a 1 year high of $35.36. The firm has a market capitalization of $18.13 billion, a P/E ratio of 8.63, a price-to-earnings-growth ratio of 0.43 and a beta of 0.92.

Corebridge Financial (NYSE:CRBG - Get Free Report) last posted its quarterly earnings data on Wednesday, February 12th. The company reported $1.23 earnings per share (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%. Equities analysts expect that Corebridge Financial, Inc. will post 5.43 earnings per share for the current year.

Corebridge Financial Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 17th will be issued a $0.24 dividend. The ex-dividend date of this dividend is 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 dividend yield of 2.94%. Corebridge Financial's dividend payout ratio is presently 25.40%.

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.