Wellington Management Group LLP Has $110.98 Million Holdings in Corebridge Financial, Inc. (NYSE:CRBG)

Wellington Management Group LLP raised its stake in shares of Corebridge Financial, Inc. (NYSE:CRBG - Free Report) by 4,624.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,707,960 shares of the company's stock after acquiring an additional 3,629,472 shares during the quarter. Wellington Management Group LLP owned approximately 0.67% of Corebridge Financial worth $110,979,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Fortitude Family Office LLC acquired a new position in Corebridge Financial in the fourth quarter worth $27,000. Smartleaf Asset Management LLC raised its stake in 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 acquiring an additional 480 shares during the period. FNY Investment Advisers LLC bought a new position in Corebridge Financial in the fourth quarter worth about $27,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in Corebridge Financial in the third quarter valued at approximately $27,000. Finally, Blue Trust Inc. boosted its stake 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 acquiring an additional 729 shares during the period. 98.25% of the stock is owned by institutional investors and hedge funds.

Corebridge Financial Price Performance

CRBG traded up $0.97 during trading on Tuesday, reaching $26.46. The stock had a trading volume of 1,232,140 shares, compared to its average volume of 3,033,575. Corebridge Financial, Inc. has a 1-year low of $23.69 and a 1-year high of $35.36. The firm has a market capitalization of $14.71 billion, a price-to-earnings ratio of 7.00, a price-to-earnings-growth ratio of 0.43 and a beta of 0.98. The stock has a 50 day moving average of $32.33 and a two-hundred day moving average of $31.34. The company has a quick ratio of 0.13, a current ratio of 0.13 and a debt-to-equity ratio of 0.16.

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Corebridge Financial (NYSE:CRBG - Get Free Report) last announced its earnings results on Wednesday, February 12th. The company reported $1.23 earnings per share 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, equities analysts anticipate that Corebridge Financial, Inc. will post 5.43 EPS for the current fiscal year.

Corebridge Financial Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 17th were issued a $0.24 dividend. This is an increase from Corebridge Financial's previous quarterly dividend of $0.23. This represents a $0.96 dividend on an annualized basis and a dividend yield of 3.63%. The ex-dividend date of this dividend was Monday, March 17th. Corebridge Financial's payout ratio is presently 25.40%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on CRBG. BMO Capital Markets started coverage on Corebridge Financial in a report on Thursday, January 23rd. They issued an "outperform" rating and a $43.00 price target on the stock. Barclays upgraded Corebridge Financial from an "equal weight" rating to an "overweight" rating and set a $37.00 target price on the stock in a research note on Monday, January 6th. Morgan Stanley raised shares of Corebridge Financial from an "equal weight" rating to an "overweight" rating and boosted their price target for the company from $35.00 to $43.00 in a report on Friday, February 28th. Wells Fargo & Company increased their price objective on shares of Corebridge Financial from $35.00 to $38.00 and gave the stock an "overweight" rating in a report on Wednesday, February 19th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of Corebridge Financial from a "hold" rating to a "buy" rating and lifted their price objective for the company from $33.00 to $40.00 in a research report on Friday, January 10th. One analyst has rated the stock with a sell rating, two have issued a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $37.00.

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.