Xponance Inc. Boosts Stake in Corebridge Financial, Inc. (NYSE:CRBG)

Xponance Inc. boosted its holdings in shares of Corebridge Financial, Inc. (NYSE:CRBG - Free Report) by 47.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 32,999 shares of the company's stock after acquiring an additional 10,663 shares during the quarter. Xponance Inc.'s holdings in Corebridge Financial were worth $988,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in CRBG. Charles Schwab Investment Management Inc. raised its holdings in shares of Corebridge Financial by 9.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,738,163 shares of the company's stock valued at $50,685,000 after acquiring an additional 148,834 shares in the last quarter. Cerity Partners LLC raised its holdings in shares of Corebridge Financial by 104.4% in the 3rd quarter. Cerity Partners LLC now owns 21,595 shares of the company's stock valued at $630,000 after purchasing an additional 11,029 shares in the last quarter. Swedbank AB increased its holdings in Corebridge Financial by 3.2% during the third quarter. Swedbank AB now owns 199,807 shares of the company's stock valued at $5,826,000 after buying an additional 6,143 shares during the period. Daiwa Securities Group Inc. raised its stake in Corebridge Financial by 3.6% in the third quarter. Daiwa Securities Group Inc. now owns 54,500 shares of the company's stock worth $1,589,000 after buying an additional 1,900 shares in the last quarter. Finally, Hancock Whitney Corp lifted its holdings in Corebridge Financial by 1.1% during the third quarter. Hancock Whitney Corp now owns 83,182 shares of the company's stock worth $2,426,000 after buying an additional 922 shares during the period. 98.25% of the stock is currently owned by institutional investors.

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Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on CRBG shares. 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 research note on Monday, January 6th. Wells Fargo & Company raised their price target on shares of Corebridge Financial from $35.00 to $38.00 and gave the company an "overweight" rating in a report on Wednesday, February 19th. Piper Sandler upped their price target on shares of Corebridge Financial from $34.00 to $35.00 and gave the company an "overweight" rating in a research note on Wednesday, December 18th. TD Cowen lifted their price objective on shares of Corebridge Financial from $35.00 to $37.00 and gave the stock a "buy" rating in a research note on Wednesday, November 27th. Finally, Deutsche Bank Aktiengesellschaft raised Corebridge Financial from a "hold" rating to a "buy" rating and upped their target price for the company from $33.00 to $40.00 in a research report on Friday, January 10th. Two research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $37.29.

Corebridge Financial Stock Down 1.8 %

Shares of CRBG stock traded down $0.58 during trading hours on Thursday, reaching $32.21. 2,085,622 shares of the stock were exchanged, compared to its average volume of 3,453,851. The firm has a market capitalization of $17.91 billion, a P/E ratio of 8.52, a P/E/G ratio of 0.43 and a beta of 0.92. The business's fifty day moving average is $32.74 and its two-hundred day moving average is $31.16. Corebridge Financial, Inc. has a 12-month low of $23.97 and a 12-month high of $35.36. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.13 and a quick ratio of 0.13.

Corebridge Financial (NYSE:CRBG - Get Free Report) last released its quarterly earnings data on Wednesday, February 12th. The company reported $1.23 EPS for the quarter, missing analysts' consensus estimates 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, research analysts expect that Corebridge Financial, Inc. will post 5.43 EPS for the current fiscal year.

Corebridge Financial Increases Dividend

The company also recently disclosed 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. This is a boost from Corebridge Financial's previous quarterly dividend of $0.23. This represents a $0.96 annualized dividend and a yield of 2.98%. The ex-dividend date is Monday, March 17th. Corebridge Financial's payout ratio is currently 25.40%.

About Corebridge Financial

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.