1,063,949 Shares in Corebridge Financial, Inc. (NYSE:CRBG) Acquired by Raymond James Financial Inc.

Raymond James Financial Inc. acquired a new stake in shares of Corebridge Financial, Inc. (NYSE:CRBG - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 1,063,949 shares of the company's stock, valued at approximately $31,844,000. Raymond James Financial Inc. owned approximately 0.19% of Corebridge Financial as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Nippon Life Insurance Co. purchased a new stake in shares of Corebridge Financial during the fourth quarter valued at approximately $3,650,151,000. Norges Bank bought a new position in Corebridge Financial in the 4th quarter valued at approximately $283,212,000. Wellington Management Group LLP boosted its stake in Corebridge Financial by 4,624.2% during the 4th quarter. Wellington Management Group LLP now owns 3,707,960 shares of the company's stock valued at $110,979,000 after purchasing an additional 3,629,472 shares during the last quarter. Pzena Investment Management LLC increased its holdings in shares of Corebridge Financial by 222.9% in the 4th quarter. Pzena Investment Management LLC now owns 4,638,455 shares of the company's stock worth $138,829,000 after purchasing an additional 3,202,145 shares in the last quarter. Finally, Clearbridge Investments LLC increased its holdings in shares of Corebridge Financial by 23.3% in the 4th quarter. Clearbridge Investments LLC now owns 5,305,120 shares of the company's stock worth $158,782,000 after purchasing an additional 1,001,848 shares in the last quarter. 98.25% of the stock is currently owned by institutional investors.

Corebridge Financial Stock Performance

Shares of CRBG stock traded up $1.23 during mid-day trading on Tuesday, reaching $28.22. 2,105,635 shares of the company's stock traded hands, compared to its average volume of 3,569,551. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.13 and a current ratio of 0.13. The firm has a market capitalization of $15.69 billion, a PE ratio of 7.47, a price-to-earnings-growth ratio of 0.43 and a beta of 0.98. Corebridge Financial, Inc. has a 12 month low of $23.69 and a 12 month high of $35.36. The firm has a 50 day moving average price of $30.80 and a two-hundred day moving average price of $31.17.

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 (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 forecast that Corebridge Financial, Inc. will post 5.43 EPS for the current year.

Corebridge Financial Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 17th were issued a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 3.40%. This is a positive change from Corebridge Financial's previous quarterly dividend of $0.23. The ex-dividend date was Monday, March 17th. Corebridge Financial's dividend payout ratio is currently 25.40%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on CRBG. Wells Fargo & Company dropped their price objective on Corebridge Financial from $38.00 to $35.00 and set an "overweight" rating on the stock in a research report on Thursday, April 10th. BMO Capital Markets began coverage on shares of Corebridge Financial in a report on Thursday, January 23rd. They set an "outperform" rating and a $43.00 price target on the stock. Barclays reduced their price target on shares of Corebridge Financial from $37.00 to $36.00 and set an "overweight" rating for the company in a research note on Friday, April 11th. Piper Sandler increased their price objective on shares of Corebridge Financial from $35.00 to $38.00 and gave the company an "overweight" rating in a research report on Wednesday, April 2nd. Finally, Deutsche Bank Aktiengesellschaft raised shares of Corebridge Financial from a "hold" rating to a "buy" rating and lifted their target price for the stock from $33.00 to $40.00 in a research 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 given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $36.15.

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.