Invesco Ltd. Grows Stake in Corebridge Financial, Inc. (NYSE:CRBG)

Invesco Ltd. raised its stake in Corebridge Financial, Inc. (NYSE:CRBG - Free Report) by 4.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 719,352 shares of the company's stock after buying an additional 30,135 shares during the period. Invesco Ltd. owned about 0.13% of Corebridge Financial worth $21,530,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Fortitude Family Office LLC bought a new stake in Corebridge Financial during the fourth quarter valued at $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 bought a new stake in shares of Corebridge Financial during the 4th quarter valued at about $27,000. Oarsman Capital Inc. acquired a new stake in Corebridge Financial during the fourth quarter worth approximately $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 worth $33,000 after purchasing an additional 729 shares in the last quarter. Institutional investors and hedge funds own 98.25% of the company's stock.

Analysts Set New Price Targets

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

Corebridge Financial Stock Up 1.2 %

Shares of CRBG traded up $0.36 during trading hours on Thursday, reaching $29.40. 648,213 shares of the stock traded hands, compared to its average volume of 3,557,699. Corebridge Financial, Inc. has a 52 week low of $23.69 and a 52 week high of $35.36. 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 stock has a fifty day simple moving average of $30.72 and a 200 day simple moving average of $31.16. The company has a market cap of $16.34 billion, a price-to-earnings ratio of 7.79, a PEG ratio of 0.43 and a beta of 0.98.

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 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, equities analysts forecast that Corebridge Financial, Inc. will post 5.43 EPS for the current year.

Corebridge Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 17th were paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 3.27%. 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 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.