Buckley Wealth Management LLC Invests $507,000 in Corebridge Financial, Inc. (NYSE:CRBG)

Buckley Wealth Management LLC purchased a new position in shares of Corebridge Financial, Inc. (NYSE:CRBG - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 16,946 shares of the company's stock, valued at approximately $507,000.

Several other institutional investors have also modified their holdings of CRBG. Janney Montgomery Scott LLC grew its position in shares of Corebridge Financial by 21.5% during the third quarter. Janney Montgomery Scott LLC now owns 37,187 shares of the company's stock worth $1,084,000 after acquiring an additional 6,571 shares during the last quarter. Covestor Ltd grew its position in Corebridge Financial by 118.8% in 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. Entropy Technologies LP bought a new position in Corebridge Financial in the 3rd quarter valued at about $627,000. Sumitomo Mitsui Trust Group Inc. grew its position in Corebridge Financial by 1.8% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 483,478 shares of the company's stock valued at $14,098,000 after buying an additional 8,499 shares in the last quarter. Finally, Oppenheimer & Co. Inc. bought a new position in Corebridge Financial in the 3rd quarter valued at about $423,000. Institutional investors own 98.25% of the company's stock.

Corebridge Financial Trading Up 1.3 %

CRBG stock traded up $0.41 during mid-day trading on Wednesday, reaching $32.58. 2,033,451 shares of the stock traded hands, compared to its average volume of 3,518,379. The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 0.16. Corebridge Financial, Inc. has a 52-week low of $23.97 and a 52-week high of $35.36. The company has a market cap of $18.11 billion, a P/E ratio of 8.62, a P/E/G ratio of 0.43 and a beta of 0.92. The stock's fifty day moving average is $32.47 and its 200-day moving average is $30.99.

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Corebridge Financial (NYSE:CRBG - Get Free Report) last posted its quarterly earnings data 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%. As a group, sell-side 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 given a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.95%. This is a positive change 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 25.40%.

Wall Street Analysts Forecast Growth

CRBG has been the subject of a number of recent analyst reports. DOWLING & PARTN lowered shares of Corebridge Financial from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, November 26th. Deutsche Bank Aktiengesellschaft upgraded shares of Corebridge Financial from a "hold" rating to a "buy" rating and increased their target price for the company from $33.00 to $40.00 in a research report on Friday, January 10th. Morgan Stanley upgraded shares of Corebridge Financial from an "equal weight" rating to an "overweight" rating and increased their target price for the company from $35.00 to $43.00 in a research report on Friday, February 28th. Wells Fargo & Company raised their price objective on shares of Corebridge Financial from $35.00 to $38.00 and gave the company an "overweight" rating in a research report on Wednesday, February 19th. 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 research report on Monday, January 6th. Two analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $37.29.

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.