Treasurer of the State of North Carolina Purchases 12,579 Shares of Corebridge Financial, Inc. (NYSE:CRBG)

Treasurer of the State of North Carolina lifted its holdings in shares of Corebridge Financial, Inc. (NYSE:CRBG - Free Report) by 10.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 129,985 shares of the company's stock after purchasing an additional 12,579 shares during the quarter. Treasurer of the State of North Carolina's holdings in Corebridge Financial were worth $3,890,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in CRBG. Fortitude Family Office LLC purchased a new position in Corebridge Financial during the fourth quarter valued at approximately $27,000. FNY Investment Advisers LLC bought a new stake in Corebridge Financial during the 4th quarter valued at $27,000. Smartleaf Asset Management LLC lifted its position in Corebridge Financial by 112.4% during the fourth quarter. Smartleaf Asset Management LLC now owns 907 shares of the company's stock valued at $27,000 after acquiring an additional 480 shares during the last quarter. Oarsman Capital Inc. acquired a new stake in Corebridge Financial in the 4th quarter worth approximately $30,000. Finally, Blue Trust Inc. raised its stake in shares of Corebridge Financial by 183.2% in the fourth 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. 98.25% of the stock is currently owned by hedge funds and other institutional investors.

Corebridge Financial Trading Up 1.5 %

Shares of Corebridge Financial stock traded up $0.42 on Friday, reaching $27.71. 2,840,221 shares of the company were exchanged, compared to its average volume of 3,581,692. The stock has a fifty day moving average price of $31.00 and a 200-day moving average price of $31.17. 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 market capitalization of $15.40 billion, a price-to-earnings ratio of 7.33, a price-to-earnings-growth ratio of 0.43 and a beta of 0.98. Corebridge Financial, Inc. has a fifty-two week low of $23.69 and a fifty-two 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 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%. On average, analysts expect that Corebridge Financial, Inc. will post 5.43 EPS for the current year.

Corebridge Financial Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 17th were issued a dividend of $0.24 per share. This is an increase from Corebridge Financial's previous quarterly dividend of $0.23. This represents a $0.96 annualized dividend and a yield of 3.46%. The ex-dividend date was Monday, March 17th. Corebridge Financial's dividend payout ratio (DPR) is 25.40%.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. 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 target price on the stock. Wells Fargo & Company dropped their price objective on Corebridge Financial from $38.00 to $35.00 and set an "overweight" rating for the company in a research note on Thursday, April 10th. Morgan Stanley cut their target price on shares of Corebridge Financial from $43.00 to $32.00 and set an "overweight" rating on the stock in a research note on Thursday, April 10th. UBS Group cut shares of Corebridge Financial from a "buy" rating to a "sell" rating and cut their price objective for the stock from $40.00 to $28.00 in a report on Wednesday, April 2nd. Finally, Keefe, Bruyette & Woods lowered their price target on Corebridge Financial from $40.00 to $37.00 and set an "outperform" rating on the stock in a report on Wednesday, April 9th. One 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. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $36.15.

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.