Swiss National Bank Has $22.53 Million Holdings in Corebridge Financial, Inc. (NYSE:CRBG)

Swiss National Bank lowered its holdings in shares of Corebridge Financial, Inc. (NYSE:CRBG - Free Report) by 7.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 752,665 shares of the company's stock after selling 60,000 shares during the period. Swiss National Bank owned approximately 0.13% of Corebridge Financial worth $22,527,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the business. Burkehill Global Management LP bought a new stake in shares of Corebridge Financial during the fourth quarter valued at about $14,965,000. EverSource Wealth Advisors LLC raised its position in shares of Corebridge Financial by 25.1% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,642 shares of the company's stock worth $49,000 after buying an additional 329 shares in the last quarter. Pzena Investment Management LLC lifted its stake 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 acquiring an additional 3,202,145 shares during the period. Daiwa Securities Group Inc. boosted its holdings in shares of Corebridge Financial by 34.5% in the fourth quarter. Daiwa Securities Group Inc. now owns 73,300 shares of the company's stock valued at $2,194,000 after acquiring an additional 18,800 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Corebridge Financial by 15.8% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 64,651 shares of the company's stock valued at $1,935,000 after acquiring an additional 8,815 shares during the period. Institutional investors and hedge funds own 98.25% of the company's stock.

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Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on CRBG shares. BMO Capital Markets initiated coverage on Corebridge Financial in a research report on Thursday, January 23rd. They issued an "outperform" rating and a $43.00 target price for the company. Morgan Stanley raised Corebridge Financial from an "equal weight" rating to an "overweight" rating and raised their target price for the company from $35.00 to $43.00 in a research note on Friday, February 28th. TD Cowen boosted their price target on shares of Corebridge Financial from $35.00 to $37.00 and gave the stock a "buy" rating in a research report on Wednesday, November 27th. DOWLING & PARTN lowered shares of Corebridge Financial from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, November 26th. Finally, Barclays raised shares of Corebridge Financial from an "equal weight" rating to an "overweight" rating and set a $37.00 price objective on the stock in a research note on Monday, January 6th. Two research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $37.29.

Corebridge Financial Stock Down 0.4 %

Shares of NYSE CRBG traded down $0.12 during mid-day trading on Friday, reaching $32.36. The company had a trading volume of 9,299,366 shares, compared to its average volume of 3,513,601. Corebridge Financial, Inc. has a twelve month low of $23.97 and a twelve month high of $35.36. The stock's 50 day moving average is $32.52 and its 200-day moving average is $31.01. 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 stock has a market capitalization of $17.99 billion, a PE ratio of 8.56, a price-to-earnings-growth ratio of 0.43 and a beta of 0.92.

Corebridge Financial (NYSE:CRBG - Get Free Report) last announced its earnings results on Wednesday, February 12th. The company reported $1.23 earnings per share (EPS) 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, equities analysts anticipate that Corebridge Financial, Inc. will post 5.43 earnings per share for the current fiscal year.

Corebridge Financial Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 17th will be given a dividend of $0.24 per share. This is a positive change from Corebridge Financial's previous quarterly dividend of $0.23. The ex-dividend date of this dividend is Monday, March 17th. This represents a $0.96 dividend on an annualized basis and a yield of 2.97%. 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.