Corebridge Financial, Inc. (NYSE:CRBG) Stock Position Boosted by Cookson Peirce & Co. Inc.

Cookson Peirce & Co. Inc. lifted its position in shares of Corebridge Financial, Inc. (NYSE:CRBG - Free Report) by 8.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 842,508 shares of the company's stock after buying an additional 68,404 shares during the quarter. Cookson Peirce & Co. Inc. owned approximately 0.15% of Corebridge Financial worth $25,216,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Janney Montgomery Scott LLC grew its holdings in Corebridge Financial by 21.5% in the third quarter. Janney Montgomery Scott LLC now owns 37,187 shares of the company's stock valued at $1,084,000 after purchasing an additional 6,571 shares during the period. Robeco Institutional Asset Management B.V. grew its holdings in Corebridge Financial by 25.9% in the third quarter. Robeco Institutional Asset Management B.V. now owns 2,251,058 shares of the company's stock valued at $65,641,000 after purchasing an additional 462,917 shares during the period. Forum Financial Management LP purchased a new stake in Corebridge Financial in the third quarter valued at approximately $286,000. QRG Capital Management Inc. grew its holdings in Corebridge Financial by 25.8% in the third quarter. QRG Capital Management Inc. now owns 260,426 shares of the company's stock valued at $7,594,000 after purchasing an additional 53,329 shares during the period. Finally, Asset Management One Co. Ltd. grew its stake in Corebridge Financial by 2.5% during the third quarter. Asset Management One Co. Ltd. now owns 128,349 shares of the company's stock worth $3,743,000 after buying an additional 3,150 shares during the period. 98.25% of the stock is currently owned by hedge funds and other institutional investors.

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Wall Street Analysts Forecast Growth

CRBG has been the subject of several research reports. 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 note on Monday, January 6th. DOWLING & PARTN downgraded shares of Corebridge Financial from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, November 26th. Piper Sandler boosted 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 boosted their price objective for the stock from $33.00 to $40.00 in a research note on Friday, January 10th. Finally, TD Cowen boosted their price objective on shares of Corebridge Financial from $35.00 to $37.00 and gave the stock a "buy" rating in a research note on Wednesday, November 27th. 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.com, the stock has an average rating of "Moderate Buy" and an average price target of $37.29.

Corebridge Financial Stock Down 0.1 %

Shares of NYSE CRBG traded down $0.02 during trading on Friday, reaching $32.05. 3,439,556 shares of the stock were exchanged, compared to its average volume of 3,081,108. The company has a market capitalization of $17.82 billion, a price-to-earnings ratio of 8.48, a price-to-earnings-growth ratio of 0.43 and a beta of 0.92. The business's 50-day moving average price is $32.33 and its 200 day moving average price is $30.82. 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 twelve month low of $23.97 and a twelve month high of $35.36.

Corebridge Financial (NYSE:CRBG - Get Free Report) last posted its quarterly earnings results on Wednesday, February 12th. The company reported $1.23 earnings per share (EPS) for the quarter, missing the consensus estimate 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, equities analysts forecast that Corebridge Financial, Inc. will post 5.43 EPS for the current fiscal year.

Corebridge Financial Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 17th will be issued a $0.24 dividend. The ex-dividend date is Monday, March 17th. This is a boost from Corebridge Financial's previous quarterly dividend of $0.23. This represents a $0.96 annualized dividend and a yield of 3.00%. Corebridge Financial's dividend payout ratio is currently 25.40%.

Insider Activity at Corebridge Financial

In other Corebridge Financial news, major shareholder International Group American sold 121,956,256 shares of the stock in a transaction on Monday, December 9th. The shares were sold at an average price of $31.47, for a total transaction of $3,837,963,376.32. Following the sale, the insider now directly 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.08% of the stock is currently owned by corporate insiders.

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.