Sierra Summit Advisors LLC Has $10.13 Million Holdings in Corebridge Financial, Inc. (NYSE:CRBG)

Sierra Summit Advisors LLC grew its position in Corebridge Financial, Inc. (NYSE:CRBG - Free Report) by 14.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 338,471 shares of the company's stock after purchasing an additional 42,865 shares during the period. Corebridge Financial makes up approximately 2.0% of Sierra Summit Advisors LLC's holdings, making the stock its 19th biggest position. Sierra Summit Advisors LLC owned 0.06% of Corebridge Financial worth $10,130,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in CRBG. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Corebridge Financial in the third quarter worth approximately $27,000. Fortitude Family Office LLC purchased a new stake in Corebridge Financial during the fourth quarter valued at about $27,000. FNY Investment Advisers LLC purchased a new stake in shares of Corebridge Financial in the 4th quarter valued at approximately $27,000. Smartleaf Asset Management LLC grew its stake in Corebridge Financial by 112.4% during the 4th quarter. Smartleaf Asset Management LLC now owns 907 shares of the company's stock valued at $27,000 after acquiring an additional 480 shares in the last quarter. Finally, Oarsman Capital Inc. purchased a new position in shares of Corebridge Financial during the 4th quarter valued at $30,000. 98.25% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. Morgan Stanley lowered their price target on Corebridge Financial from $43.00 to $32.00 and set an "overweight" rating for the company in a research note on Thursday. Keefe, Bruyette & Woods dropped their price target on shares of Corebridge Financial from $40.00 to $37.00 and set an "outperform" rating on the stock in a research note on Wednesday. Barclays reduced their price objective 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. Deutsche Bank Aktiengesellschaft upgraded Corebridge Financial from a "hold" rating to a "buy" rating and raised their target price for the company from $33.00 to $40.00 in a report on Friday, January 10th. Finally, BMO Capital Markets began coverage on Corebridge Financial in a report on Thursday, January 23rd. They set an "outperform" rating and a $43.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and eleven have issued a buy rating to the company's stock. According to MarketBeat.com, Corebridge Financial presently has an average rating of "Moderate Buy" and a consensus price target of $36.15.

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Corebridge Financial Price Performance

Shares of CRBG stock traded up $0.05 during mid-day trading on Friday, reaching $26.71. The company's stock had a trading volume of 5,995,192 shares, compared to its average volume of 3,574,770. The firm's 50-day moving average is $31.56 and its two-hundred day moving average is $31.24. The company has a market cap of $14.85 billion, a P/E ratio of 7.07, a PEG ratio of 0.43 and a beta of 0.98. Corebridge Financial, Inc. has a 1-year low of $23.69 and a 1-year high of $35.36. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.13 and a current 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 (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, research analysts predict that Corebridge Financial, Inc. will post 5.43 earnings per share 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 paid a $0.24 dividend. This is a positive change from Corebridge Financial's previous quarterly dividend of $0.23. The ex-dividend date was Monday, March 17th. This represents a $0.96 annualized dividend and a yield of 3.59%. Corebridge Financial's payout ratio 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.