Corebridge Financial Inc. Sells 9,278 Shares of Fifth Third Bancorp (NASDAQ:FITB)

Corebridge Financial Inc. decreased its holdings in shares of Fifth Third Bancorp (NASDAQ:FITB - Free Report) by 5.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 158,809 shares of the financial services provider's stock after selling 9,278 shares during the quarter. Corebridge Financial Inc.'s holdings in Fifth Third Bancorp were worth $6,714,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in FITB. Boston Common Asset Management LLC lifted its position in Fifth Third Bancorp by 12.4% in the fourth quarter. Boston Common Asset Management LLC now owns 309,350 shares of the financial services provider's stock worth $13,079,000 after purchasing an additional 34,203 shares during the period. Boston Partners lifted its holdings in shares of Fifth Third Bancorp by 6.2% during the 4th quarter. Boston Partners now owns 14,135,430 shares of the financial services provider's stock worth $597,692,000 after acquiring an additional 823,803 shares during the period. AMJ Financial Wealth Management boosted its position in shares of Fifth Third Bancorp by 4.2% during the 4th quarter. AMJ Financial Wealth Management now owns 232,803 shares of the financial services provider's stock valued at $9,843,000 after acquiring an additional 9,401 shares in the last quarter. Banco Santander S.A. bought a new stake in Fifth Third Bancorp in the fourth quarter valued at about $357,000. Finally, Lockheed Martin Investment Management Co. acquired a new position in Fifth Third Bancorp in the fourth quarter worth about $9,878,000. Institutional investors and hedge funds own 83.79% of the company's stock.

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Analysts Set New Price Targets

FITB has been the topic of a number of recent research reports. Stephens reaffirmed an "equal weight" rating and set a $51.00 price objective on shares of Fifth Third Bancorp in a report on Wednesday, March 5th. Citigroup decreased their price target on Fifth Third Bancorp from $52.00 to $43.00 and set a "neutral" rating on the stock in a research note on Monday, March 24th. Keefe, Bruyette & Woods increased their price objective on Fifth Third Bancorp from $45.00 to $51.00 and gave the stock a "market perform" rating in a research note on Wednesday, December 4th. Barclays boosted their target price on shares of Fifth Third Bancorp from $51.00 to $56.00 and gave the company an "overweight" rating in a research note on Monday, January 6th. Finally, DA Davidson increased their target price on shares of Fifth Third Bancorp from $49.00 to $50.00 and gave the stock a "neutral" rating in a research report on Thursday, January 23rd. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and ten have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $47.50.

Fifth Third Bancorp Trading Up 0.7 %

Shares of Fifth Third Bancorp stock traded up $0.26 on Wednesday, hitting $39.19. 671,734 shares of the company's stock traded hands, compared to its average volume of 4,338,560. Fifth Third Bancorp has a one year low of $33.82 and a one year high of $49.07. The company has a debt-to-equity ratio of 0.82, a current ratio of 0.80 and a quick ratio of 0.80. The stock has a market capitalization of $26.18 billion, a PE ratio of 12.52, a price-to-earnings-growth ratio of 1.42 and a beta of 1.21. The firm's 50-day moving average price is $41.96 and its two-hundred day moving average price is $43.49.

Fifth Third Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be paid a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 3.78%. The ex-dividend date of this dividend is Monday, March 31st. Fifth Third Bancorp's payout ratio is 47.13%.

Insiders Place Their Bets

In other Fifth Third Bancorp news, COO James C. Leonard sold 17,200 shares of Fifth Third Bancorp stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $44.26, for a total value of $761,272.00. Following the transaction, the chief operating officer now owns 244,487 shares of the company's stock, valued at approximately $10,820,994.62. The trade was a 6.57 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Kevin P. Lavender sold 21,700 shares of the company's stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $43.55, for a total transaction of $945,035.00. Following the completion of the transaction, the executive vice president now owns 130,856 shares of the company's stock, valued at $5,698,778.80. This trade represents a 14.22 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.53% of the company's stock.

Fifth Third Bancorp Profile

Fifth Third Bancorp operates as the bank holding company for Fifth Third Bank, National Association that engages in the provision of a range of financial products and services in the United States. It operates through three segments: Commercial Banking, Consumer and Small Business Banking, and Wealth and Asset Management.