Demars Financial Group LLC acquired a new stake in Corebridge Financial, Inc. (NYSE:CRBG - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 336,802 shares of the company's stock, valued at approximately $10,080,000. Demars Financial Group LLC owned 0.06% of Corebridge Financial at the end of the most recent quarter.
A number of other large investors have also recently modified their holdings of CRBG. EverSource Wealth Advisors LLC boosted its position in shares of Corebridge Financial by 25.1% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,642 shares of the company's stock valued at $49,000 after purchasing an additional 329 shares in the last quarter. Whittier Trust Co. of Nevada Inc. raised its stake in Corebridge Financial by 58.4% during the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 1,147 shares of the company's stock valued at $34,000 after buying an additional 423 shares during the last quarter. Smartleaf Asset Management LLC grew its stake in shares of 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 acquiring an additional 480 shares during the last quarter. Sanctuary Advisors LLC increased its holdings in shares of Corebridge Financial by 3.1% during the fourth quarter. Sanctuary Advisors LLC now owns 22,182 shares of the company's stock valued at $664,000 after acquiring an additional 660 shares in the last quarter. Finally, Blue Trust Inc. boosted its stake in Corebridge Financial by 183.2% in the 4th 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 own 98.25% of the company's stock.
Corebridge Financial Stock Performance
CRBG traded up $1.16 on Tuesday, reaching $28.15. The stock had a trading volume of 438,466 shares, compared to its average volume of 3,564,823. Corebridge Financial, Inc. has a 12-month low of $23.69 and a 12-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. The company has a market cap of $15.65 billion, a P/E ratio of 7.44, a price-to-earnings-growth ratio of 0.43 and a beta of 0.98. The business's 50-day moving average price is $30.88 and its two-hundred day moving average price is $31.19.
Corebridge Financial (NYSE:CRBG - Get Free Report) last issued its quarterly earnings data on Wednesday, February 12th. The company reported $1.23 EPS for the quarter, missing the consensus estimate of $1.27 by ($0.04). Corebridge Financial had a net margin of 11.39% and a return on equity of 22.69%. Sell-side analysts forecast that Corebridge Financial, Inc. will post 5.43 earnings per share for the current year.
Corebridge Financial Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 17th were issued a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 3.41%. This is a boost from Corebridge Financial's previous quarterly dividend of $0.23. The ex-dividend date of this dividend was Monday, March 17th. Corebridge Financial's payout ratio is presently 25.40%.
Analyst Ratings Changes
A number of equities research analysts have recently commented on the stock. Barclays cut their price target on shares of Corebridge Financial from $37.00 to $36.00 and set an "overweight" rating on the stock in a report on Friday, April 11th. UBS Group downgraded 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 report on Wednesday, April 2nd. Deutsche Bank Aktiengesellschaft raised Corebridge Financial from a "hold" rating to a "buy" rating and boosted their price target for the company from $33.00 to $40.00 in a report on Friday, January 10th. Keefe, Bruyette & Woods lowered their target price on shares of Corebridge Financial from $40.00 to $37.00 and set an "outperform" rating on the stock in a report on Wednesday, April 9th. Finally, Piper Sandler upped their price objective on Corebridge Financial from $35.00 to $38.00 and gave the company an "overweight" rating in a research report on Wednesday, April 2nd. One analyst has rated the stock with a sell rating, two have issued a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, Corebridge Financial presently has an average rating of "Moderate Buy" and an average price target of $36.15.
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About Corebridge Financial
(
Free Report)
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.
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