Pictet Asset Management Holding SA Has $4.94 Million Stake in Corebridge Financial, Inc. (NYSE:CRBG)

Pictet Asset Management Holding SA increased its position in Corebridge Financial, Inc. (NYSE:CRBG - Free Report) by 22.0% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 165,158 shares of the company's stock after purchasing an additional 29,816 shares during the period. Pictet Asset Management Holding SA's holdings in Corebridge Financial were worth $4,943,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Cerity Partners LLC increased its stake in Corebridge Financial by 104.4% during the third quarter. Cerity Partners LLC now owns 21,595 shares of the company's stock valued at $630,000 after purchasing an additional 11,029 shares during the last quarter. The Manufacturers Life Insurance Company grew its position in shares of Corebridge Financial by 3.4% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 22,211 shares of the company's stock valued at $648,000 after buying an additional 732 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Corebridge Financial by 79.5% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 55,836 shares of the company's stock worth $1,628,000 after acquiring an additional 24,724 shares during the period. Public Sector Pension Investment Board lifted its holdings in Corebridge Financial by 9.8% in the third quarter. Public Sector Pension Investment Board now owns 35,861 shares of the company's stock worth $1,046,000 after acquiring an additional 3,200 shares during the last quarter. Finally, Verition Fund Management LLC boosted its stake in Corebridge Financial by 267.2% in the third quarter. Verition Fund Management LLC now owns 60,446 shares of the company's stock valued at $1,763,000 after acquiring an additional 43,984 shares during the period. 98.25% of the stock is owned by institutional investors.

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Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Piper Sandler raised their price target on Corebridge Financial from $35.00 to $38.00 and gave the stock an "overweight" rating in a report on Wednesday, April 2nd. 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 note on Monday, January 6th. Morgan Stanley upgraded shares of Corebridge Financial from an "equal weight" rating to an "overweight" rating and upped their price target for the stock from $35.00 to $43.00 in a research report on Friday, February 28th. BMO Capital Markets started coverage on shares of Corebridge Financial in a research report on Thursday, January 23rd. They issued an "outperform" rating and a $43.00 price objective on the stock. Finally, UBS Group cut shares of Corebridge Financial from a "buy" rating to a "sell" rating and decreased their target price for the stock from $40.00 to $28.00 in a research report on Wednesday, April 2nd. 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 company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $37.00.

Corebridge Financial Price Performance

Shares of CRBG traded down $0.11 during midday trading on Tuesday, reaching $25.38. The stock had a trading volume of 5,076,978 shares, compared to its average volume of 3,568,672. 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 company has a market capitalization of $14.11 billion, a P/E ratio of 6.71, a P/E/G ratio of 0.43 and a beta of 0.98. The firm's 50 day moving average price is $32.01 and its 200-day moving average price is $31.28. Corebridge Financial, Inc. has a 52 week low of $23.69 and a 52 week high of $35.36.

Corebridge Financial (NYSE:CRBG - Get Free Report) last issued 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, analysts forecast that Corebridge Financial, Inc. will post 5.43 earnings per share for the current fiscal year.

Corebridge Financial Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 17th were issued a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 3.78%. This is a boost from Corebridge Financial's previous quarterly dividend of $0.23. The ex-dividend date was Monday, March 17th. Corebridge Financial's dividend payout ratio (DPR) is presently 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.