Corebridge Financial, Inc. (NYSE:CRBG) Shares Purchased by Jones Financial Companies Lllp

Jones Financial Companies Lllp lifted its stake in shares of Corebridge Financial, Inc. (NYSE:CRBG - Free Report) by 715.6% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 18,661 shares of the company's stock after buying an additional 16,373 shares during the quarter. Jones Financial Companies Lllp's holdings in Corebridge Financial were worth $559,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in CRBG. Smartleaf Asset Management LLC lifted its holdings in Corebridge Financial by 112.4% during the 4th quarter. Smartleaf Asset Management LLC now owns 907 shares of the company's stock worth $27,000 after buying an additional 480 shares during the last quarter. Covestor Ltd lifted its stake in Corebridge Financial by 118.8% during the third quarter. Covestor Ltd now owns 1,050 shares of the company's stock worth $31,000 after purchasing an additional 570 shares during the last quarter. Sanctuary Advisors LLC boosted its holdings in Corebridge Financial by 3.1% in the fourth quarter. Sanctuary Advisors LLC now owns 22,182 shares of the company's stock valued at $664,000 after purchasing an additional 660 shares in the last quarter. Blue Trust Inc. boosted its holdings in Corebridge Financial by 183.2% in the fourth quarter. Blue Trust Inc. now owns 1,127 shares of the company's stock valued at $33,000 after purchasing an additional 729 shares in the last quarter. Finally, The Manufacturers Life Insurance Company increased its stake in Corebridge Financial by 3.4% in the third quarter. The Manufacturers Life Insurance Company now owns 22,211 shares of the company's stock valued at $648,000 after purchasing an additional 732 shares during the last quarter. 98.25% of the stock is currently owned by hedge funds and other institutional investors.

Remove Ads

Corebridge Financial Stock Performance

NYSE:CRBG traded down $1.20 during mid-day trading on Thursday, reaching $30.52. The stock had a trading volume of 1,464,598 shares, compared to its average volume of 3,029,105. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.13 and a current ratio of 0.13. The business has a 50 day simple moving average of $32.40 and a 200 day simple moving average of $30.90. Corebridge Financial, Inc. has a twelve month low of $23.97 and a twelve month high of $35.36. The firm has a market capitalization of $16.97 billion, a price-to-earnings ratio of 8.07, a PEG ratio of 0.43 and a beta of 0.92.

Corebridge Financial (NYSE:CRBG - Get Free Report) last posted its quarterly earnings results 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 net margin of 11.39% and a return on equity of 22.69%. On average, 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 declared 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 is a boost from Corebridge Financial's previous quarterly dividend of $0.23. This represents a $0.96 dividend on an annualized basis and a dividend yield of 3.15%. Corebridge Financial's dividend payout ratio is 25.40%.

Analyst Ratings Changes

CRBG has been the topic of a number of recent analyst reports. TD Cowen increased their target price on shares of Corebridge Financial from $35.00 to $37.00 and gave the company a "buy" rating in a research report on Wednesday, November 27th. Wells Fargo & Company raised their price target on Corebridge Financial from $35.00 to $38.00 and gave the stock an "overweight" rating in a research note on Wednesday, February 19th. BMO Capital Markets initiated coverage on Corebridge Financial in a research note on Thursday, January 23rd. They issued an "outperform" rating and a $43.00 price objective for the company. Deutsche Bank Aktiengesellschaft upgraded shares of Corebridge Financial from a "hold" rating to a "buy" rating and raised their target price for the stock from $33.00 to $40.00 in a research report on Friday, January 10th. Finally, 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 report on Wednesday, December 18th. Two investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $37.29.

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.