Wells Fargo & Company MN Grows Stock Holdings in Corebridge Financial, Inc. (NYSE:CRBG)

Wells Fargo & Company MN grew its holdings in Corebridge Financial, Inc. (NYSE:CRBG - Free Report) by 328.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 386,423 shares of the company's stock after purchasing an additional 296,337 shares during the period. Wells Fargo & Company MN owned approximately 0.07% of Corebridge Financial worth $11,566,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of the business. EverSource Wealth Advisors LLC increased its stake in shares of Corebridge Financial by 25.1% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,642 shares of the company's stock worth $49,000 after buying an additional 329 shares during the period. Whittier Trust Co. of Nevada Inc. increased its position in shares of Corebridge Financial by 58.4% in the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 1,147 shares of the company's stock valued at $34,000 after purchasing an additional 423 shares during the last quarter. Smartleaf Asset Management LLC raised its holdings 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 in the last quarter. Sanctuary Advisors LLC lifted its position in shares of Corebridge Financial by 3.1% during the 4th quarter. Sanctuary Advisors LLC now owns 22,182 shares of the company's stock worth $664,000 after purchasing an additional 660 shares during the last quarter. Finally, Blue Trust Inc. increased its holdings in Corebridge Financial by 183.2% in the fourth quarter. Blue Trust Inc. now owns 1,127 shares of the company's stock valued at $33,000 after buying an additional 729 shares during the last quarter. 98.25% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. Morgan Stanley lowered their price target on Corebridge Financial from $43.00 to $32.00 and set an "overweight" rating for the company in a report on Thursday, April 10th. Piper Sandler upped their target price on Corebridge Financial from $35.00 to $38.00 and gave the company an "overweight" rating in a research report on Wednesday, April 2nd. UBS Group lowered Corebridge Financial from a "buy" rating to a "sell" rating and cut their price target for the stock from $40.00 to $28.00 in a research report on Wednesday, April 2nd. Wells Fargo & Company decreased their price objective on Corebridge Financial from $38.00 to $35.00 and set an "overweight" rating for the company in a report on Thursday, April 10th. Finally, Keefe, Bruyette & Woods decreased their target price on shares of Corebridge Financial from $40.00 to $37.00 and set an "outperform" rating for the company in a research note on Wednesday, April 9th. One analyst has rated the stock with a sell rating, two have issued a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, Corebridge Financial has an average rating of "Moderate Buy" and a consensus price target of $36.15.

Corebridge Financial Trading Up 1.5 %

Shares of NYSE:CRBG traded up $0.42 during trading on Friday, reaching $27.71. The stock had a trading volume of 2,840,221 shares, compared to its average volume of 3,575,869. Corebridge Financial, Inc. has a fifty-two week low of $23.69 and a fifty-two week high of $35.36. The stock has a market cap of $15.40 billion, a P/E ratio of 7.33, a PEG ratio of 0.43 and a beta of 0.98. The business has a fifty day moving average price of $31.11 and a 200-day moving average price of $31.18. 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 (NYSE:CRBG - Get Free Report) last released 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 net margin of 11.39% and a return on equity of 22.69%. As a group, analysts anticipate that Corebridge Financial, Inc. will post 5.43 earnings per share for the current fiscal year.

Corebridge Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 17th were issued a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 3.46%. This is an increase from Corebridge Financial's previous quarterly dividend of $0.23. The ex-dividend date was Monday, March 17th. Corebridge Financial's dividend payout ratio is presently 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.