39,036 Shares in Corebridge Financial, Inc. (NYSE:CRBG) Bought by First Hawaiian Bank

First Hawaiian Bank bought a new position in shares of Corebridge Financial, Inc. (NYSE:CRBG - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 39,036 shares of the company's stock, valued at approximately $1,168,000.

A number of other large investors also recently modified their holdings of CRBG. Canada Pension Plan Investment Board boosted its stake in Corebridge Financial by 249.3% during the 2nd quarter. Canada Pension Plan Investment Board now owns 6,315,045 shares of the company's stock valued at $183,894,000 after purchasing an additional 4,507,322 shares during the period. Marshall Wace LLP raised its holdings in shares of Corebridge Financial by 201.1% during the second quarter. Marshall Wace LLP now owns 4,008,341 shares of the company's stock valued at $116,723,000 after buying an additional 2,677,105 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Corebridge Financial by 150.1% during the second quarter. Dimensional Fund Advisors LP now owns 3,561,382 shares of the company's stock worth $103,707,000 after buying an additional 2,137,594 shares during the period. AQR Capital Management LLC grew its holdings in Corebridge Financial by 40.3% in the 2nd quarter. AQR Capital Management LLC now owns 4,462,933 shares of the company's stock worth $129,961,000 after buying an additional 1,282,154 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. increased its position in Corebridge Financial by 34.5% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 3,567,637 shares of the company's stock valued at $104,032,000 after acquiring an additional 915,848 shares during the period. 98.25% of the stock is currently owned by institutional investors.

Corebridge Financial Trading Down 4.0 %

Shares of Corebridge Financial stock traded down $1.25 during trading on Friday, hitting $30.10. The stock had a trading volume of 3,349,563 shares, compared to its average volume of 2,723,661. Corebridge Financial, Inc. has a 1 year low of $23.01 and a 1 year high of $34.66. The stock has a 50 day simple moving average of $30.91 and a 200 day simple moving average of $29.65. The company has a quick ratio of 0.14, a current ratio of 0.14 and a debt-to-equity ratio of 0.83. The company has a market capitalization of $17.12 billion, a PE ratio of -14.40, a P/E/G ratio of 0.39 and a beta of 0.92.

Corebridge Financial (NYSE:CRBG - Get Free Report) last announced its earnings results on Monday, November 4th. The company reported $1.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.17 by $0.21. The company had revenue of $5.53 billion for the quarter, compared to the consensus estimate of $5.66 billion. Corebridge Financial had a negative net margin of 6.10% and a positive return on equity of 22.24%. The company's revenue was up 39.5% on a year-over-year basis. During the same period in the previous year, the business earned $1.05 EPS. On average, research analysts expect that Corebridge Financial, Inc. will post 4.81 EPS for the current fiscal year.

Corebridge Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Tuesday, December 17th were issued a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 3.06%. The ex-dividend date was Tuesday, December 17th. Corebridge Financial's dividend payout ratio is currently -44.02%.

Analyst Upgrades and Downgrades

CRBG has been the subject of several recent analyst reports. Morgan Stanley increased their price objective on shares of Corebridge Financial from $31.00 to $34.00 and gave the company an "equal weight" rating in a report on Tuesday, November 5th. DOWLING & PARTN lowered Corebridge Financial from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, November 26th. Piper Sandler boosted their price objective on Corebridge Financial from $34.00 to $35.00 and gave the stock an "overweight" rating in a research note on Wednesday, December 18th. Deutsche Bank Aktiengesellschaft raised Corebridge Financial from a "hold" rating to a "buy" rating and raised their target price for the company from $33.00 to $40.00 in a research note on Friday. Finally, Barclays upgraded shares of Corebridge Financial from an "equal weight" rating to an "overweight" rating and set a $37.00 price target on the stock in a research report on Monday. Three investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $35.85.

Insider Activity at Corebridge Financial

In other news, major shareholder International Group American sold 121,956,256 shares of the firm's stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $31.47, for a total transaction of $3,837,963,376.32. Following the completion of the sale, the insider now directly owns 127,282,642 shares of the company's stock, valued at $4,005,584,743.74. This trade represents a 48.93 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.08% of the stock is currently owned by insiders.

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.