Corebridge Financial, Inc. (NYSE:CRBG) Shares Purchased by Arbiter Partners Capital Management LLC

Arbiter Partners Capital Management LLC raised its position in shares of Corebridge Financial, Inc. (NYSE:CRBG - Free Report) by 105.2% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 182,155 shares of the company's stock after purchasing an additional 93,400 shares during the quarter. Corebridge Financial accounts for 3.4% of Arbiter Partners Capital Management LLC's portfolio, making the stock its 5th largest position. Arbiter Partners Capital Management LLC's holdings in Corebridge Financial were worth $5,452,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Public Employees Retirement System of Ohio raised its holdings in shares of Corebridge Financial by 11.3% during the third quarter. Public Employees Retirement System of Ohio now owns 167,038 shares of the company's stock worth $4,871,000 after purchasing an additional 16,970 shares during the last quarter. Virtu Financial LLC acquired a new stake in Corebridge Financial during the 3rd quarter worth about $581,000. New York Life Investment Management LLC purchased a new position in shares of Corebridge Financial during the 4th quarter valued at about $781,000. State Street Corp lifted its holdings in shares of Corebridge Financial by 11.7% in the 3rd quarter. State Street Corp now owns 8,035,438 shares of the company's stock valued at $234,313,000 after buying an additional 843,559 shares during the period. Finally, First Hawaiian Bank acquired a new position in shares of Corebridge Financial in the 4th quarter valued at about $1,168,000. 98.25% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

CRBG has been the subject of a number of analyst reports. Piper Sandler boosted their price target on Corebridge Financial from $35.00 to $38.00 and gave the company an "overweight" rating in a report on Wednesday, April 2nd. Morgan Stanley lowered their price target on shares of Corebridge Financial from $43.00 to $32.00 and set an "overweight" rating on the stock in a report on Thursday. UBS Group lowered shares of Corebridge Financial from a "buy" rating to a "sell" rating and dropped their price target for the company from $40.00 to $28.00 in a research report on Wednesday, April 2nd. Wells Fargo & Company decreased their price objective on shares of Corebridge Financial from $38.00 to $35.00 and set an "overweight" rating for the company in a research report on Thursday. Finally, Barclays dropped their target price on Corebridge Financial from $37.00 to $36.00 and set an "overweight" rating on the stock in a research report on Friday. One analyst has rated the stock with a sell rating, two have assigned a hold rating and eleven have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $36.15.

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Corebridge Financial Price Performance

Shares of Corebridge Financial stock traded up $0.05 during mid-day trading on Friday, reaching $26.71. 5,995,192 shares of the stock traded hands, compared to its average volume of 3,574,770. The company has a quick ratio of 0.13, a current ratio of 0.13 and a debt-to-equity ratio of 0.16. The business has a 50-day moving average of $31.56 and a 200 day moving average of $31.24. The stock has a market capitalization of $14.85 billion, a PE ratio of 7.07, a PEG ratio of 0.43 and a beta of 0.98. Corebridge Financial, Inc. has a fifty-two week low of $23.69 and a fifty-two week high of $35.36.

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 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%. On average, analysts predict that Corebridge Financial, Inc. will post 5.43 EPS for the current year.

Corebridge Financial Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 17th were paid a $0.24 dividend. This is an increase from Corebridge Financial's previous quarterly dividend of $0.23. This represents a $0.96 annualized dividend and a dividend yield of 3.59%. The ex-dividend date was Monday, March 17th. Corebridge Financial's dividend payout ratio (DPR) is currently 25.40%.

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.