Mitsubishi UFJ Trust & Banking Corp decreased its stake in Corebridge Financial, Inc. (NYSE:CRBG - Free Report) by 48.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 223,933 shares of the company's stock after selling 214,391 shares during the period. Mitsubishi UFJ Trust & Banking Corp's holdings in Corebridge Financial were worth $6,702,000 as of its most recent SEC filing.
A number of other large investors have also modified their holdings of CRBG. Nippon Life Insurance Co. acquired a new stake in Corebridge Financial during the 4th quarter valued at $3,650,151,000. Vanguard Group Inc. increased its holdings in shares of Corebridge Financial by 3.1% in the 4th quarter. Vanguard Group Inc. now owns 23,925,256 shares of the company's stock valued at $716,083,000 after acquiring an additional 711,857 shares during the last quarter. State Street Corp raised its holdings in shares of Corebridge Financial by 11.7% during the third quarter. State Street Corp now owns 8,035,438 shares of the company's stock worth $234,313,000 after purchasing an additional 843,559 shares during the period. FMR LLC raised its stake in Corebridge Financial by 13.5% during the third quarter. FMR LLC now owns 5,030,104 shares of the company's stock worth $146,678,000 after acquiring an additional 598,373 shares during the period. Finally, Pzena Investment Management LLC lifted its holdings in Corebridge Financial by 222.9% in the fourth quarter. Pzena Investment Management LLC now owns 4,638,455 shares of the company's stock worth $138,829,000 after acquiring an additional 3,202,145 shares during the last quarter. Institutional investors and hedge funds own 98.25% of the company's stock.
Corebridge Financial Price Performance
Shares of CRBG traded up $0.39 during mid-day trading on Wednesday, hitting $31.98. The company's stock had a trading volume of 4,202,567 shares, compared to its average volume of 3,565,823. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.13 and a quick ratio of 0.13. The stock has a market capitalization of $17.78 billion, a price-to-earnings ratio of 8.46, a PEG ratio of 0.43 and a beta of 0.92. The firm has a 50-day moving average price of $32.72 and a 200 day moving average price of $31.32. Corebridge Financial, Inc. has a fifty-two week low of $23.97 and a fifty-two week high of $35.36.
Corebridge Financial (NYSE:CRBG - Get Free Report) last released 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, research analysts predict that Corebridge Financial, Inc. will post 5.43 EPS for the current fiscal year.
Corebridge Financial Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 17th were given a $0.24 dividend. This is an increase from Corebridge Financial's previous quarterly dividend of $0.23. This represents a $0.96 annualized dividend and a dividend yield of 3.00%. The ex-dividend date was Monday, March 17th. Corebridge Financial's dividend payout ratio (DPR) is 25.40%.
Analyst Ratings Changes
CRBG has been the topic of a number of research reports. Wells Fargo & Company increased their price target on Corebridge Financial from $35.00 to $38.00 and gave the stock an "overweight" rating in a research report on Wednesday, February 19th. Deutsche Bank Aktiengesellschaft raised Corebridge Financial from a "hold" rating to a "buy" rating and increased their target price for the stock from $33.00 to $40.00 in a research report on Friday, January 10th. Barclays raised shares of Corebridge Financial from an "equal weight" rating to an "overweight" rating and set a $37.00 price target for the company in a report on Monday, January 6th. BMO Capital Markets began coverage on shares of Corebridge Financial in a research report on Thursday, January 23rd. They issued an "outperform" rating and a $43.00 target price for the company. Finally, Morgan Stanley raised Corebridge Financial from an "equal weight" rating to an "overweight" rating and lifted their price target for the company from $35.00 to $43.00 in a report on Friday, February 28th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and twelve have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $37.00.
Check Out Our Latest Stock Analysis on CRBG
Corebridge Financial Profile
(
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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