Corebridge Financial, Inc. (NYSE:CRBG) Shares Acquired by National Bank of Canada FI

National Bank of Canada FI raised its position in shares of Corebridge Financial, Inc. (NYSE:CRBG - Free Report) by 105.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 29,013 shares of the company's stock after buying an additional 14,915 shares during the period. National Bank of Canada FI's holdings in Corebridge Financial were worth $868,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also modified their holdings of CRBG. Public Employees Retirement System of Ohio grew its position in Corebridge Financial by 11.3% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 167,038 shares of the company's stock valued at $4,871,000 after acquiring an additional 16,970 shares in the last quarter. Virtu Financial LLC purchased a new position in Corebridge Financial in the 3rd quarter valued at approximately $581,000. New York Life Investment Management LLC acquired a new position in shares of Corebridge Financial in the fourth quarter worth $781,000. State Street Corp raised its stake in shares of 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 acquiring an additional 843,559 shares in the last quarter. Finally, First Hawaiian Bank purchased a new stake in Corebridge Financial during the 4th quarter worth about $1,168,000. 98.25% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on CRBG. UBS Group lowered shares of Corebridge Financial from a "buy" rating to a "sell" rating and cut their target price for the stock from $40.00 to $28.00 in a research note on Wednesday, April 2nd. Barclays dropped their price objective on Corebridge Financial from $37.00 to $36.00 and set an "overweight" rating on the stock in a report on Friday. Keefe, Bruyette & Woods cut their price objective on shares of Corebridge Financial from $40.00 to $37.00 and set an "outperform" rating on the stock in a report on Wednesday, April 9th. BMO Capital Markets assumed coverage on shares of Corebridge Financial in a research report on Thursday, January 23rd. They issued an "outperform" rating and a $43.00 price target for the company. Finally, Deutsche Bank Aktiengesellschaft raised Corebridge Financial from a "hold" rating to a "buy" rating and raised their price objective for the stock from $33.00 to $40.00 in a report on Friday, January 10th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and eleven have assigned a buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $36.15.

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Corebridge Financial Stock Performance

NYSE CRBG traded up $0.70 on Tuesday, hitting $28.04. 512,079 shares of the company's stock were exchanged, compared to its average volume of 3,569,356. The firm's 50-day moving average price is $31.45 and its two-hundred day moving average price is $31.24. Corebridge Financial, Inc. has a fifty-two week low of $23.69 and a fifty-two week high of $35.36. The firm has a market cap of $15.59 billion, a price-to-earnings ratio of 7.41, a P/E/G ratio of 0.43 and a beta of 0.98. 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 (NYSE:CRBG - Get Free Report) last announced its quarterly earnings results on Wednesday, February 12th. The company reported $1.23 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%. On average, research analysts expect that Corebridge Financial, Inc. will post 5.43 EPS for the current year.

Corebridge Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 17th were given a dividend of $0.24 per share. 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 3.42%. The ex-dividend date was Monday, March 17th. Corebridge Financial's payout ratio is currently 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.