New York State Common Retirement Fund Raises Stake in Corebridge Financial, Inc. (NYSE:CRBG)

New York State Common Retirement Fund boosted its position in shares of Corebridge Financial, Inc. (NYSE:CRBG - Free Report) by 9.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 159,882 shares of the company's stock after acquiring an additional 13,700 shares during the period. New York State Common Retirement Fund's holdings in Corebridge Financial were worth $4,785,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CRBG. Kestra Investment Management LLC purchased a new stake in Corebridge Financial during the 4th quarter valued at approximately $316,000. D.A. Davidson & CO. grew its holdings in shares of Corebridge Financial by 166.9% in the fourth quarter. D.A. Davidson & CO. now owns 32,825 shares of the company's stock valued at $982,000 after purchasing an additional 20,525 shares in the last quarter. Truist Financial Corp grew its holdings in shares of Corebridge Financial by 656.7% in the fourth quarter. Truist Financial Corp now owns 55,831 shares of the company's stock valued at $1,671,000 after purchasing an additional 48,453 shares in the last quarter. CIBC Asset Management Inc grew its holdings in shares of Corebridge Financial by 9.3% in the fourth quarter. CIBC Asset Management Inc now owns 21,394 shares of the company's stock valued at $640,000 after purchasing an additional 1,815 shares in the last quarter. Finally, Sanctuary Advisors LLC grew its holdings in shares of Corebridge Financial by 3.1% in the fourth quarter. Sanctuary Advisors LLC now owns 22,182 shares of the company's stock valued at $664,000 after purchasing an additional 660 shares in the last quarter. Institutional investors own 98.25% of the company's stock.

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Insider Buying and Selling at Corebridge Financial

In other news, major shareholder International Group American sold 121,956,256 shares of the business's stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $31.47, for a total transaction of $3,837,963,376.32. Following the sale, the insider now owns 127,282,642 shares in the company, valued at approximately $4,005,584,743.74. The trade was a 48.93 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.08% of the stock is owned by insiders.

Analysts Set New Price Targets

CRBG has been the subject of a number of recent research reports. DOWLING & PARTN lowered shares of Corebridge Financial from a "strong-buy" rating to a "hold" rating in a report on Tuesday, November 26th. Deutsche Bank Aktiengesellschaft raised shares of Corebridge Financial from a "hold" rating to a "buy" rating and lifted their price objective for the stock from $33.00 to $40.00 in a research note 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 objective for the company in a research note on Monday, January 6th. Piper Sandler lifted their price objective on shares of Corebridge Financial from $34.00 to $35.00 and gave the stock an "overweight" rating in a research note on Wednesday, December 18th. Finally, Wells Fargo & Company lifted their price objective on shares of Corebridge Financial from $35.00 to $38.00 and gave the stock an "overweight" rating in a research note on Wednesday, February 19th. Two analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $37.29.

Corebridge Financial Stock Down 1.3 %

Shares of CRBG stock traded down $0.46 on Monday, hitting $34.22. The stock had a trading volume of 1,332,947 shares, compared to its average volume of 3,046,817. The company has a quick ratio of 0.13, a current ratio of 0.13 and a debt-to-equity ratio of 0.16. The business has a 50 day moving average price of $32.06 and a 200 day moving average price of $30.70. The company has a market cap of $19.03 billion, a PE ratio of 9.03, a P/E/G ratio of 0.43 and a beta of 0.94. Corebridge Financial, Inc. has a one year low of $23.77 and a one year high of $35.36.

Corebridge Financial (NYSE:CRBG - Get Free Report) last released its quarterly earnings data on Wednesday, February 12th. The company reported $1.23 earnings per share 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%. Research analysts anticipate that Corebridge Financial, Inc. will post 5.43 earnings per share for the current fiscal year.

Corebridge Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 17th will be issued 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 2.81%. The ex-dividend date of this dividend is Monday, March 17th. Corebridge Financial's payout ratio is presently 25.40%.

Corebridge Financial 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.