Russell Investments Group Ltd. Purchases 301,856 Shares of Corebridge Financial, Inc. (NYSE:CRBG)

Russell Investments Group Ltd. lifted its holdings in shares of Corebridge Financial, Inc. (NYSE:CRBG - Free Report) by 37.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,097,583 shares of the company's stock after buying an additional 301,856 shares during the quarter. Russell Investments Group Ltd. owned about 0.19% of Corebridge Financial worth $32,861,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Envestnet Asset Management Inc. grew its holdings in Corebridge Financial by 29.5% during the 4th quarter. Envestnet Asset Management Inc. now owns 445,258 shares of the company's stock worth $13,327,000 after acquiring an additional 101,506 shares during the period. Oarsman Capital Inc. acquired a new stake in shares of Corebridge Financial during the fourth quarter worth $30,000. Resona Asset Management Co. Ltd. bought a new stake in Corebridge Financial in the fourth quarter valued at about $2,425,000. Wells Fargo & Company MN lifted its stake in Corebridge Financial by 328.9% in the fourth quarter. Wells Fargo & Company MN now owns 386,423 shares of the company's stock valued at $11,566,000 after buying an additional 296,337 shares during the period. Finally, ExodusPoint Capital Management LP bought a new position in Corebridge Financial during the fourth quarter worth about $3,773,000. 98.25% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Piper Sandler increased their price target 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. BMO Capital Markets began coverage on shares of Corebridge Financial in a research report on Thursday, January 23rd. They set an "outperform" rating and a $43.00 price target on the stock. Barclays dropped their price objective on Corebridge Financial from $37.00 to $36.00 and set an "overweight" rating on the stock in a research note on Friday. Wells Fargo & Company decreased their target price on Corebridge Financial from $38.00 to $35.00 and set an "overweight" rating for the company in a research note on Thursday. Finally, Deutsche Bank Aktiengesellschaft raised Corebridge Financial from a "hold" rating to a "buy" rating and raised their price target for the stock from $33.00 to $40.00 in a research report on Friday, January 10th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $36.15.

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Corebridge Financial Stock Up 0.2 %

NYSE:CRBG traded up $0.05 on Friday, hitting $26.71. 5,995,192 shares of the company's stock were exchanged, compared to its average volume of 3,577,672. The company has a market cap of $14.85 billion, a P/E ratio of 7.07, a price-to-earnings-growth ratio of 0.43 and a beta of 0.98. The firm has a 50-day moving average price of $31.56 and a 200-day moving average price of $31.25. 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, 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 announced its quarterly earnings results on Wednesday, February 12th. The company reported $1.23 earnings per share for the quarter, missing analysts' consensus estimates of $1.27 by ($0.04). Corebridge Financial had a return on equity of 22.69% and a net margin of 11.39%. As a group, analysts expect that Corebridge Financial, Inc. will post 5.43 EPS for the current fiscal year.

Corebridge Financial Increases Dividend

The firm also recently declared 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 represents a $0.96 dividend on an annualized basis and a yield of 3.59%. 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 (DPR) 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.