Corebridge Financial, Inc. (NYSE:CRBG) Position Lessened by Schroder Investment Management Group

Schroder Investment Management Group cut its stake in Corebridge Financial, Inc. (NYSE:CRBG - Free Report) by 77.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 234,545 shares of the company's stock after selling 822,788 shares during the period. Schroder Investment Management Group's holdings in Corebridge Financial were worth $7,032,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in CRBG. Cerity Partners LLC raised its holdings in shares of 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 buying an additional 11,029 shares during the last quarter. The Manufacturers Life Insurance Company raised its stake in 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 acquiring an additional 732 shares in the last quarter. Public Sector Pension Investment Board boosted its position in Corebridge Financial by 9.8% during the 3rd 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 period. Verition Fund Management LLC grew its stake in shares of Corebridge Financial by 267.2% in the third quarter. Verition Fund Management LLC now owns 60,446 shares of the company's stock worth $1,763,000 after purchasing an additional 43,984 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Corebridge Financial during the third quarter valued at $27,000. 98.25% of the stock is currently owned by institutional investors.

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Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the stock. Barclays upgraded shares of Corebridge Financial from an "equal weight" rating to an "overweight" rating and set a $37.00 target price for the company in a research report on Monday, January 6th. BMO Capital Markets started coverage on shares of Corebridge Financial in a research note on Thursday, January 23rd. They set an "outperform" rating and a $43.00 price objective on the stock. Deutsche Bank Aktiengesellschaft upgraded Corebridge Financial from a "hold" rating to a "buy" rating and upped their target price for the stock from $33.00 to $40.00 in a research report on Friday, January 10th. UBS Group cut Corebridge Financial from a "buy" rating to a "sell" rating and lowered their price target for the company from $40.00 to $28.00 in a research report on Wednesday, April 2nd. Finally, Wells Fargo & Company upped their price objective on Corebridge Financial from $35.00 to $38.00 and gave the company an "overweight" rating in a report on Wednesday, February 19th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, Corebridge Financial currently has a consensus rating of "Moderate Buy" and an average price target of $37.00.

Corebridge Financial Trading Up 0.2 %

NYSE CRBG traded up $0.06 on Tuesday, hitting $25.55. 2,128,809 shares of the stock were exchanged, compared to its average volume of 3,556,399. The company's 50-day moving average price is $32.33 and its two-hundred day moving average price is $31.34. The company has a market capitalization of $14.21 billion, a price-to-earnings ratio of 6.77, a P/E/G ratio of 0.43 and a beta of 0.98. Corebridge Financial, Inc. has a 52-week low of $23.69 and a 52-week high of $35.36. 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 (NYSE:CRBG - Get Free Report) last posted its quarterly earnings results 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 predict that Corebridge Financial, Inc. will post 5.43 EPS for the current year.

Corebridge Financial Increases Dividend

The business also recently declared 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 is a boost from Corebridge Financial's previous quarterly dividend of $0.23. This represents a $0.96 annualized dividend and a dividend yield of 3.76%. The ex-dividend date was Monday, March 17th. Corebridge Financial's dividend payout ratio (DPR) is currently 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.