LSV Asset Management Acquires Shares of 2,866,222 Corebridge Financial, Inc. (NYSE:CRBG)

LSV Asset Management bought a new position in shares of Corebridge Financial, Inc. (NYSE:CRBG - Free Report) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 2,866,222 shares of the company's stock, valued at approximately $85,786,000. LSV Asset Management owned approximately 0.50% of Corebridge Financial at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. The Manufacturers Life Insurance Company grew its holdings in Corebridge Financial by 3.4% during the third quarter. The Manufacturers Life Insurance Company now owns 22,211 shares of the company's stock worth $648,000 after purchasing an additional 732 shares during the period. State Street Corp increased its holdings in Corebridge Financial by 11.7% in the third quarter. State Street Corp now owns 8,035,438 shares of the company's stock valued at $234,313,000 after purchasing an additional 843,559 shares during the period. Wellington Management Group LLP raised its position in shares of Corebridge Financial by 13.3% in the 3rd quarter. Wellington Management Group LLP now owns 78,488 shares of the company's stock worth $2,289,000 after acquiring an additional 9,229 shares in the last quarter. EP Wealth Advisors LLC bought a new position in Corebridge Financial during the third quarter worth $493,000. Finally, National Bank of Canada FI grew its position in Corebridge Financial by 1,409.4% in the 3rd quarter. National Bank of Canada FI now owns 14,098 shares of the company's stock valued at $411,000 after purchasing an additional 13,164 shares during the period. 98.25% of the stock is owned by institutional investors.

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Corebridge Financial Price Performance

Shares of CRBG traded down $0.06 during trading hours on Wednesday, hitting $27.75. 582,354 shares of the stock were exchanged, compared to its average volume of 3,571,965. The company has a market cap of $15.43 billion, a price-to-earnings ratio of 7.34, a price-to-earnings-growth ratio of 0.43 and a beta of 0.98. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.13 and a current ratio of 0.13. Corebridge Financial, Inc. has a 12-month low of $23.69 and a 12-month high of $35.36. The stock's 50-day moving average price is $31.34 and its two-hundred day moving average price is $31.22.

Corebridge Financial (NYSE:CRBG - Get Free Report) last issued its quarterly earnings results on Wednesday, February 12th. The company reported $1.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.27 by ($0.04). Corebridge Financial had a return on equity of 22.69% and a net margin of 11.39%. Research analysts expect 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. Shareholders of record on Monday, March 17th were given a dividend of $0.24 per share. The ex-dividend date of this dividend was Monday, March 17th. This represents a $0.96 dividend on an annualized basis and a yield of 3.46%. This is an increase from Corebridge Financial's previous quarterly dividend of $0.23. Corebridge Financial's dividend payout ratio is presently 25.40%.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Piper Sandler upped their target price on Corebridge Financial from $35.00 to $38.00 and gave the company an "overweight" rating in a report on Wednesday, April 2nd. UBS Group cut Corebridge Financial from a "buy" rating to a "sell" rating and cut their price objective for the stock from $40.00 to $28.00 in a report on Wednesday, April 2nd. Deutsche Bank Aktiengesellschaft upgraded shares of Corebridge Financial from a "hold" rating to a "buy" rating and upped their price target for the company from $33.00 to $40.00 in a report on Friday, January 10th. BMO Capital Markets initiated coverage on shares of Corebridge Financial in a research note on Thursday, January 23rd. They set an "outperform" rating and a $43.00 target price on the stock. Finally, Wells Fargo & Company cut their price target on Corebridge Financial from $38.00 to $35.00 and set an "overweight" rating on the stock in a research note on Thursday, April 10th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $36.15.

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.