Corebridge Financial, Inc. (NYSE:CRBG) Shares Bought by Federated Hermes Inc.

Federated Hermes Inc. raised its stake in shares of Corebridge Financial, Inc. (NYSE:CRBG - Free Report) by 4.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 351,565 shares of the company's stock after purchasing an additional 15,050 shares during the quarter. Federated Hermes Inc. owned about 0.06% of Corebridge Financial worth $10,522,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Fortitude Family Office LLC purchased a new position in Corebridge Financial during the fourth quarter valued at approximately $27,000. Smartleaf Asset Management LLC lifted its stake 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 during the period. FNY Investment Advisers LLC purchased a new stake in Corebridge Financial during the fourth quarter worth $27,000. Oarsman Capital Inc. acquired a new stake in Corebridge Financial during the fourth quarter valued at $30,000. 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 in the last quarter. Institutional investors and hedge funds own 98.25% of the company's stock.

Corebridge Financial Price Performance

CRBG stock traded down $0.01 during mid-day trading on Wednesday, reaching $27.80. The company's stock had a trading volume of 345,876 shares, compared to its average volume of 3,160,113. The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 0.16. The company's 50 day moving average is $31.34 and its two-hundred day moving average is $31.22. 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 $15.46 billion, a PE ratio of 7.36, a P/E/G ratio of 0.43 and a beta of 0.98.

Remove Ads

Corebridge Financial (NYSE:CRBG - Get Free Report) last posted its quarterly 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%. Equities research analysts expect that Corebridge Financial, Inc. will post 5.43 EPS for the current year.

Corebridge Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 17th were issued a $0.24 dividend. The ex-dividend date of this dividend was Monday, March 17th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 3.45%. This is a positive change from Corebridge Financial's previous quarterly dividend of $0.23. Corebridge Financial's dividend payout ratio is currently 25.40%.

Analyst Ratings Changes

Several equities analysts recently weighed in on CRBG shares. Keefe, Bruyette & Woods cut their price target on Corebridge Financial from $40.00 to $37.00 and set an "outperform" rating for the company in a research note on Wednesday, April 9th. Piper Sandler upped their target price on Corebridge Financial from $35.00 to $38.00 and gave the stock an "overweight" rating in a research note on Wednesday, April 2nd. Morgan Stanley decreased their target price on Corebridge Financial from $43.00 to $32.00 and set an "overweight" rating on the stock in a research report on Thursday, April 10th. Wells Fargo & Company cut their price target on shares of Corebridge Financial from $38.00 to $35.00 and set an "overweight" rating for the company in a report on Thursday, April 10th. Finally, Barclays decreased their price objective on shares of Corebridge Financial from $37.00 to $36.00 and set an "overweight" rating on the stock in a report on Friday, April 11th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $36.15.

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.