Legal & General Group Plc Has $20.02 Million Stock Position in Corebridge Financial, Inc. (NYSE:CRBG)

Legal & General Group Plc reduced its stake in Corebridge Financial, Inc. (NYSE:CRBG - Free Report) by 40.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 669,021 shares of the company's stock after selling 453,196 shares during the quarter. Legal & General Group Plc owned 0.12% of Corebridge Financial worth $20,024,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Fortitude Family Office LLC acquired a new position in shares of Corebridge Financial during the fourth quarter worth about $27,000. Smartleaf Asset Management LLC lifted its stake in Corebridge Financial by 112.4% in the 4th quarter. Smartleaf Asset Management LLC now owns 907 shares of the company's stock valued at $27,000 after acquiring an additional 480 shares in the last quarter. FNY Investment Advisers LLC acquired a new position in Corebridge Financial during the 4th quarter worth approximately $27,000. Oarsman Capital Inc. bought a new position in shares of Corebridge Financial during the 4th quarter worth approximately $30,000. Finally, Blue Trust Inc. grew its stake in shares of Corebridge Financial by 183.2% during the 4th quarter. Blue Trust Inc. now owns 1,127 shares of the company's stock worth $33,000 after acquiring an additional 729 shares in the last quarter. 98.25% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Morgan Stanley decreased their target price on shares of Corebridge Financial from $43.00 to $32.00 and set an "overweight" rating for the company in a research report on Thursday, April 10th. Deutsche Bank Aktiengesellschaft raised Corebridge Financial from a "hold" rating to a "buy" rating and boosted their price target for the stock from $33.00 to $40.00 in a research report on Friday, January 10th. Keefe, Bruyette & Woods cut their target price on shares of Corebridge Financial from $40.00 to $37.00 and set an "outperform" rating for the company in a research note on Wednesday, April 9th. Barclays reduced their target price on shares of Corebridge Financial from $37.00 to $36.00 and set an "overweight" rating for the company in a research report on Friday, April 11th. Finally, UBS Group cut 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. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and eleven have issued a buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $36.15.

Corebridge Financial Trading Up 1.5 %

NYSE:CRBG traded up $0.42 on Thursday, reaching $27.71. 1,994,876 shares of the stock traded hands, compared to its average volume of 3,574,733. The firm has a market capitalization of $15.40 billion, a price-to-earnings ratio of 7.33, a price-to-earnings-growth ratio of 0.43 and a beta of 0.98. Corebridge Financial, Inc. has a 1-year low of $23.69 and a 1-year 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's 50 day moving average is $31.21 and its 200-day moving average is $31.19.

Corebridge Financial (NYSE:CRBG - Get Free Report) last announced its 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 return on equity of 22.69% and a net margin of 11.39%. Equities research analysts anticipate that Corebridge Financial, Inc. will post 5.43 EPS for the current fiscal year.

Corebridge Financial Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 17th were issued a $0.24 dividend. This is an increase from Corebridge Financial's previous quarterly dividend of $0.23. This represents a $0.96 dividend on an annualized basis and a yield of 3.46%. The ex-dividend date was Monday, March 17th. Corebridge Financial's payout ratio is presently 25.40%.

Corebridge Financial Company 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.