Corebridge Financial, Inc. (NYSE:CRBG) Shares Bought by Alliancebernstein L.P.

Alliancebernstein L.P. boosted its position in Corebridge Financial, Inc. (NYSE:CRBG - Free Report) by 16.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,577,342 shares of the company's stock after buying an additional 367,334 shares during the quarter. Alliancebernstein L.P. owned approximately 0.45% of Corebridge Financial worth $77,140,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Corebridge Financial Stock Up 3.8 %

CRBG traded up $0.97 during trading on Tuesday, hitting $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 twelve month low of $23.69 and a twelve month high of $35.36. The stock has a 50 day simple moving average of $32.33 and a two-hundred day simple moving average of $31.34. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.13 and a current ratio of 0.13. The company has a market capitalization of $14.71 billion, a PE ratio of 7.00, a PEG ratio of 0.43 and a beta of 0.98.

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

Corebridge Financial Increases Dividend

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

Analyst Ratings Changes

Several brokerages have commented on CRBG. UBS Group cut shares of Corebridge Financial from a "buy" rating to a "sell" rating and decreased their price target for the stock from $40.00 to $28.00 in a research note on Wednesday, April 2nd. Morgan Stanley raised Corebridge Financial from an "equal weight" rating to an "overweight" rating and boosted their target price for the company from $35.00 to $43.00 in a research 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 research report on Wednesday, February 19th. Barclays upgraded Corebridge Financial from an "equal weight" rating to an "overweight" rating and set a $37.00 price objective for the company in a report on Monday, January 6th. Finally, BMO Capital Markets assumed coverage on shares of Corebridge Financial in a report on Thursday, January 23rd. They set an "outperform" rating and a $43.00 price objective for the company. One analyst has rated the stock with a sell rating, two have assigned a hold rating and twelve have issued a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $37.00.

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.