AustralianSuper Pty Ltd Has $47.43 Million Position in Corebridge Financial, Inc. (NYSE:CRBG)

AustralianSuper Pty Ltd increased its stake in Corebridge Financial, Inc. (NYSE:CRBG - Free Report) by 69.5% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,584,707 shares of the company's stock after buying an additional 649,718 shares during the quarter. AustralianSuper Pty Ltd owned about 0.28% of Corebridge Financial worth $47,430,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Van ECK Associates Corp lifted its stake in Corebridge Financial by 31.9% during the fourth quarter. Van ECK Associates Corp now owns 3,325 shares of the company's stock worth $100,000 after purchasing an additional 805 shares during the last quarter. Lester Murray Antman dba SimplyRich acquired a new stake in shares of Corebridge Financial in the fourth quarter valued at $201,000. Essex Financial Services Inc. boosted its position in shares of Corebridge Financial by 31.4% during the 4th quarter. Essex Financial Services Inc. now owns 9,589 shares of the company's stock valued at $287,000 after purchasing an additional 2,293 shares in the last quarter. Stephens Inc. AR grew its position in Corebridge Financial by 29.9% in the fourth quarter. Stephens Inc. AR now owns 11,116 shares of the company's stock worth $333,000 after buying an additional 2,558 shares during the last quarter. Finally, Vest Financial LLC raised its position in shares of Corebridge Financial by 53.5% during the fourth quarter. Vest Financial LLC now owns 82,733 shares of the company's stock worth $2,476,000 after purchasing an additional 28,842 shares during the period. Hedge funds and other institutional investors own 98.25% of the company's stock.

Analysts Set New Price Targets

CRBG has been the topic of several research analyst reports. Wells Fargo & Company lifted 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. TD Cowen increased their price objective on Corebridge Financial from $35.00 to $37.00 and gave the stock a "buy" rating in a research note on Wednesday, November 27th. Morgan Stanley lifted their target price on Corebridge Financial from $31.00 to $34.00 and gave the company an "equal weight" rating in a research note on Tuesday, November 5th. DOWLING & PARTN lowered shares of Corebridge Financial from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, November 26th. Finally, BMO Capital Markets initiated coverage on shares of Corebridge Financial in a research report on Thursday, January 23rd. They issued an "outperform" rating and a $43.00 target price for the company. Three investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $36.64.

Insider Transactions at Corebridge Financial

In other Corebridge Financial news, major shareholder International Group American sold 121,956,256 shares of the company's stock in a transaction on Monday, December 9th. The stock was sold at an average price of $31.47, for a total transaction of $3,837,963,376.32. Following the transaction, the insider now owns 127,282,642 shares of the company's stock, valued at approximately $4,005,584,743.74. This represents a 48.93 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.08% of the company's stock.

Corebridge Financial Stock Performance

Shares of CRBG stock traded down $0.28 during trading hours on Wednesday, reaching $33.57. 2,252,485 shares of the company's stock were exchanged, compared to its average volume of 3,255,793. The business has a fifty day moving average price of $31.53 and a 200-day moving average price of $30.28. The stock has a market capitalization of $18.66 billion, a P/E ratio of 8.88, a P/E/G ratio of 0.42 and a beta of 0.94. The company has a quick ratio of 0.13, a current ratio of 0.13 and a debt-to-equity ratio of 0.16. Corebridge Financial, Inc. has a fifty-two week low of $23.77 and a fifty-two week high of $34.66.

Corebridge Financial (NYSE:CRBG - Get Free Report) last announced its quarterly earnings data on Wednesday, February 12th. The company reported $1.23 earnings per share 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%. Analysts predict that Corebridge Financial, Inc. will post 5.47 EPS for the current fiscal year.

Corebridge Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 17th will be paid a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 2.86%. This is a boost from Corebridge Financial's previous quarterly dividend of $0.23. The ex-dividend date is Monday, March 17th. Corebridge Financial's dividend payout ratio is currently 24.34%.

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.