Corebridge Financial, Inc. (NYSE:CRBG) Shares Acquired by American Century Companies Inc.

American Century Companies Inc. raised its position in Corebridge Financial, Inc. (NYSE:CRBG - Free Report) by 63.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 325,692 shares of the company's stock after buying an additional 126,157 shares during the quarter. American Century Companies Inc. owned about 0.06% of Corebridge Financial worth $9,748,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. EverSource Wealth Advisors LLC lifted its holdings in shares of Corebridge Financial by 25.1% in 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 in the last quarter. Whittier Trust Co. of Nevada Inc. boosted its stake 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 in the last quarter. Smartleaf Asset Management LLC raised its position in Corebridge Financial by 112.4% in the 4th quarter. Smartleaf Asset Management LLC now owns 907 shares of the company's stock worth $27,000 after purchasing an additional 480 shares during the period. Sanctuary Advisors LLC increased its holdings in shares of Corebridge Financial by 3.1% in the fourth quarter. Sanctuary Advisors LLC now owns 22,182 shares of the company's stock worth $664,000 after buying an additional 660 shares during the period. Finally, Blue Trust Inc. lifted its position 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 purchasing an additional 729 shares during the last quarter. 98.25% of the stock is currently owned by institutional investors.

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Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on CRBG. Deutsche Bank Aktiengesellschaft upgraded Corebridge Financial from a "hold" rating to a "buy" rating and lifted their price objective for the stock from $33.00 to $40.00 in a research report on Friday, January 10th. UBS Group lowered Corebridge Financial from a "buy" rating to a "sell" rating and lowered their price objective for the company from $40.00 to $28.00 in a research report on Wednesday. Morgan Stanley raised shares of Corebridge Financial from an "equal weight" rating to an "overweight" rating and raised their target price for the company from $35.00 to $43.00 in a research note on Friday, February 28th. Piper Sandler upped their price target on shares of Corebridge Financial from $35.00 to $38.00 and gave the stock an "overweight" rating in a research note on Wednesday. Finally, BMO Capital Markets started coverage on shares of Corebridge Financial in a research report on Thursday, January 23rd. They set an "outperform" rating and a $43.00 price target for the company. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and twelve have assigned a buy rating to the company's stock. Based on data from MarketBeat, Corebridge Financial has a consensus rating of "Moderate Buy" and an average target price of $37.00.

Corebridge Financial Stock Down 10.5 %

NYSE CRBG traded down $3.01 on Friday, hitting $25.62. The stock had a trading volume of 4,989,743 shares, compared to its average volume of 3,558,667. The business's fifty day moving average price is $32.63 and its 200 day moving average price is $31.30. The stock has a market cap of $14.25 billion, a price-to-earnings ratio of 6.78, a price-to-earnings-growth ratio of 0.43 and a beta of 0.92. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.13 and a quick ratio of 0.13. Corebridge Financial, Inc. has a 52-week low of $23.97 and a 52-week high of $35.36.

Corebridge Financial (NYSE:CRBG - Get Free Report) last announced 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%. Equities research analysts anticipate that Corebridge Financial, Inc. will post 5.43 earnings per share for the current year.

Corebridge Financial Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 17th were issued a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 3.75%. The ex-dividend date of this dividend was Monday, March 17th. This is an increase from Corebridge Financial's previous quarterly dividend of $0.23. Corebridge Financial's dividend payout ratio is 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.