Daiwa Securities Group Inc. Raises Holdings in Corebridge Financial, Inc. (NYSE:CRBG)

Daiwa Securities Group Inc. grew its position in Corebridge Financial, Inc. (NYSE:CRBG - Free Report) by 34.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 73,300 shares of the company's stock after acquiring an additional 18,800 shares during the quarter. Daiwa Securities Group Inc.'s holdings in Corebridge Financial were worth $2,194,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Fortitude Family Office LLC purchased a new position in Corebridge Financial during the 4th quarter valued at $27,000. Smartleaf Asset Management LLC lifted its position in shares of Corebridge Financial by 112.4% during the fourth 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 last quarter. FNY Investment Advisers LLC purchased a new stake in shares of Corebridge Financial during the fourth quarter valued at $27,000. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Corebridge Financial in the third quarter worth about $27,000. Finally, Covestor Ltd increased its stake in Corebridge Financial by 118.8% in the 3rd quarter. Covestor Ltd now owns 1,050 shares of the company's stock worth $31,000 after buying an additional 570 shares during the period. Institutional investors own 98.25% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on CRBG. BMO Capital Markets started coverage on shares of Corebridge Financial in a research report on Thursday, January 23rd. They issued an "outperform" rating and a $43.00 price objective for the company. TD Cowen boosted their price target on Corebridge Financial from $35.00 to $37.00 and gave the company a "buy" rating in a report on Wednesday, November 27th. DOWLING & PARTN cut Corebridge Financial from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, November 26th. Deutsche Bank Aktiengesellschaft raised Corebridge Financial from a "hold" rating to a "buy" rating and lifted their target price for the company from $33.00 to $40.00 in a research report on Friday, January 10th. Finally, Barclays raised Corebridge Financial from an "equal weight" rating to an "overweight" rating and set a $37.00 price target on the stock in a research report on Monday, January 6th. Two analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $37.29.

Remove Ads

Corebridge Financial Stock Down 1.3 %

Shares of Corebridge Financial stock traded down $0.42 on Tuesday, reaching $32.17. The stock had a trading volume of 2,433,463 shares, compared to its average volume of 3,532,357. Corebridge Financial, Inc. has a 1 year low of $23.97 and a 1 year high of $35.36. The company has a 50 day moving average price of $32.45 and a 200 day moving average price of $30.97. 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 stock has a market capitalization of $17.89 billion, a P/E ratio of 8.51, a P/E/G ratio of 0.43 and a beta of 0.92.

Corebridge Financial (NYSE:CRBG - Get Free Report) last issued its quarterly earnings results on Wednesday, February 12th. The company reported $1.23 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.27 by ($0.04). Corebridge Financial had a return on equity of 22.69% and a net margin of 11.39%. As a group, equities research analysts forecast 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 will be paid on Monday, March 31st. Shareholders of record on Monday, March 17th will be paid 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 dividend on an annualized basis and a yield of 2.98%. Corebridge Financial's dividend payout ratio (DPR) is 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.