Skandinaviska Enskilda Banken AB publ Increases Position in Corebridge Financial, Inc. (NYSE:CRBG)

Skandinaviska Enskilda Banken AB publ grew its position in shares of Corebridge Financial, Inc. (NYSE:CRBG - Free Report) by 78.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 102,477 shares of the company's stock after purchasing an additional 45,100 shares during the period. Skandinaviska Enskilda Banken AB publ's holdings in Corebridge Financial were worth $3,072,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Corebridge Financial in the 3rd quarter valued at about $27,000. Fortitude Family Office LLC bought a new stake in Corebridge Financial in the fourth quarter worth about $27,000. FNY Investment Advisers LLC bought a new stake in Corebridge Financial in the fourth quarter worth about $27,000. Smartleaf Asset Management LLC lifted its stake in Corebridge Financial by 112.4% in the fourth quarter. Smartleaf Asset Management LLC now owns 907 shares of the company's stock worth $27,000 after purchasing an additional 480 shares during the last quarter. Finally, Blue Trust Inc. lifted 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 worth $33,000 after purchasing an additional 729 shares during the last quarter. Institutional investors own 98.25% of the company's stock.

Analysts Set New Price Targets

CRBG has been the subject of several analyst reports. Piper Sandler raised their price objective on shares of Corebridge Financial from $34.00 to $35.00 and gave the stock an "overweight" rating in a research note on Wednesday, December 18th. TD Cowen raised 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. Morgan Stanley raised shares of Corebridge Financial from an "equal weight" rating to an "overweight" rating and raised their price objective for the stock from $35.00 to $43.00 in a research note on Friday, February 28th. BMO Capital Markets initiated coverage on shares of Corebridge Financial in a research note on Thursday, January 23rd. They set an "outperform" rating and a $43.00 price target for the company. Finally, Wells Fargo & Company lifted their price target on shares of Corebridge Financial from $35.00 to $38.00 and gave the company an "overweight" rating in a research note on Wednesday, February 19th. Two equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Corebridge Financial currently has an average rating of "Moderate Buy" and a consensus target price of $37.29.

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Corebridge Financial Price Performance

Shares of Corebridge Financial stock traded down $0.09 during trading hours on Thursday, reaching $32.46. The stock had a trading volume of 2,371,481 shares, compared to its average volume of 3,509,938. The stock's 50 day moving average is $32.50 and its 200 day moving average is $31.00. The firm has a market capitalization of $18.05 billion, a PE ratio of 8.59, a PEG ratio of 0.43 and a beta of 0.92. Corebridge Financial, Inc. has a twelve month low of $23.97 and a twelve month 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.

Corebridge Financial (NYSE:CRBG - Get Free Report) last issued its quarterly earnings data 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%. Equities analysts expect that Corebridge Financial, Inc. will post 5.43 earnings per share for the current fiscal year.

Corebridge Financial Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 17th will be paid a dividend of $0.24 per share. The ex-dividend date of this dividend is Monday, March 17th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.96%. This is a boost from Corebridge Financial's previous quarterly dividend of $0.23. Corebridge Financial's payout ratio is currently 25.40%.

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.