Corebridge Financial, Inc. (NYSE:CRBG) Shares Purchased by Rhumbline Advisers

Rhumbline Advisers lifted its holdings in Corebridge Financial, Inc. (NYSE:CRBG - Free Report) by 12.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 306,137 shares of the company's stock after purchasing an additional 33,613 shares during the period. Rhumbline Advisers owned about 0.05% of Corebridge Financial worth $9,163,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of the business. Covestor Ltd raised its position in Corebridge Financial by 118.8% during the third quarter. Covestor Ltd now owns 1,050 shares of the company's stock worth $31,000 after acquiring an additional 570 shares during the period. Blue Trust Inc. raised 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 worth $33,000 after purchasing an additional 729 shares during the last quarter. The Manufacturers Life Insurance Company lifted its stake in Corebridge Financial by 3.4% in 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 in the last quarter. CIBC Asset Management Inc boosted its holdings in Corebridge Financial by 4.2% in the 3rd quarter. CIBC Asset Management Inc now owns 19,579 shares of the company's stock worth $571,000 after buying an additional 793 shares during the last quarter. Finally, Van ECK Associates Corp increased its stake in Corebridge Financial by 31.9% during the 4th quarter. Van ECK Associates Corp now owns 3,325 shares of the company's stock worth $100,000 after buying an additional 805 shares in the last quarter. Institutional investors and hedge funds own 98.25% of the company's stock.

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Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. Barclays raised Corebridge Financial from an "equal weight" rating to an "overweight" rating and set a $37.00 price target 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 boosted their price target for the stock from $35.00 to $43.00 in a research report on Friday. Piper Sandler upped their price objective on shares of Corebridge Financial from $34.00 to $35.00 and gave the company an "overweight" rating in a research note on Wednesday, December 18th. TD Cowen raised their target price on shares of Corebridge Financial from $35.00 to $37.00 and gave the stock a "buy" rating in a research note on Wednesday, November 27th. Finally, DOWLING & PARTN lowered Corebridge Financial from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, November 26th. Two research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $37.29.

Corebridge Financial Stock Up 4.2 %

CRBG traded up $1.39 during trading hours on Friday, hitting $34.71. 3,847,448 shares of the company's stock were exchanged, compared to its average volume of 3,094,853. The firm has a market cap of $19.30 billion, a P/E ratio of 9.18, a price-to-earnings-growth ratio of 0.43 and a beta of 0.94. Corebridge Financial, Inc. has a 12-month low of $23.77 and a 12-month high of $34.84. The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 0.16. The firm has a 50 day moving average of $31.96 and a 200 day moving average of $30.58.

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%. Analysts predict that Corebridge Financial, Inc. will post 5.43 EPS for the current fiscal year.

Corebridge Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 17th will be given a dividend of $0.24 per share. The ex-dividend date is Monday, March 17th. This is an increase from Corebridge Financial's previous quarterly dividend of $0.23. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.77%. Corebridge Financial's payout ratio is currently 25.40%.

Insider Buying and Selling

In related news, major shareholder International Group American sold 121,956,256 shares of the business's stock in a transaction on Monday, December 9th. The shares were sold at an average price of $31.47, for a total transaction of $3,837,963,376.32. Following the completion of the transaction, 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 document filed with the SEC, which is accessible through the SEC website. Insiders own 0.08% of the company's stock.

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.