Corebridge Financial, Inc. (NYSE:CRBG) Shares Sold by Mitsubishi UFJ Trust & Banking Corp

Mitsubishi UFJ Trust & Banking Corp lessened its holdings in shares of Corebridge Financial, Inc. (NYSE:CRBG - Free Report) by 48.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 223,933 shares of the company's stock after selling 214,391 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp's holdings in Corebridge Financial were worth $6,702,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Corebridge Financial in the third quarter valued at approximately $27,000. Fortitude Family Office LLC purchased a new stake in Corebridge Financial in the 4th quarter valued at $27,000. FNY Investment Advisers LLC acquired a new stake in shares of Corebridge Financial in the 4th quarter worth $27,000. Smartleaf Asset Management LLC raised its holdings in shares of 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 acquiring an additional 480 shares during the period. Finally, Blue Trust Inc. boosted its position 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 valued at $33,000 after acquiring an additional 729 shares during the last quarter. Hedge funds and other institutional investors own 98.25% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on CRBG. UBS Group cut shares of 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 research report on Wednesday. BMO Capital Markets started coverage on shares of Corebridge Financial in a report on Thursday, January 23rd. They set an "outperform" rating and a $43.00 price target for the company. Wells Fargo & Company upped their price objective on Corebridge Financial from $35.00 to $38.00 and gave the company an "overweight" rating in a report on Wednesday, February 19th. Deutsche Bank Aktiengesellschaft upgraded Corebridge Financial from a "hold" rating to a "buy" rating and increased their price objective for the stock from $33.00 to $40.00 in a research report on Friday, January 10th. Finally, Barclays upgraded Corebridge Financial from an "equal weight" rating to an "overweight" rating and set a $37.00 target price on the stock in a research report on Monday, January 6th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $37.00.

Corebridge Financial Stock Down 10.5 %

Shares of CRBG stock traded down $3.01 during trading on Friday, reaching $25.62. The company's stock had a trading volume of 4,989,743 shares, compared to its average volume of 3,558,667. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.13 and a quick ratio of 0.13. Corebridge Financial, Inc. has a 1-year low of $23.97 and a 1-year high of $35.36. The company has a market capitalization of $14.25 billion, a price-to-earnings ratio of 6.78, a P/E/G ratio of 0.43 and a beta of 0.92. The stock's 50-day moving average price is $32.48 and its 200 day moving average price is $31.29.

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

Corebridge Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 17th were given a dividend of $0.24 per share. This is a boost from Corebridge Financial's previous quarterly dividend of $0.23. This represents a $0.96 annualized dividend and a dividend yield of 3.75%. The ex-dividend date was Monday, March 17th. Corebridge Financial's dividend payout ratio is currently 25.40%.

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.