US Bancorp DE Purchases 21,296 Shares of Corebridge Financial, Inc. (NYSE:CRBG)

US Bancorp DE raised its stake in Corebridge Financial, Inc. (NYSE:CRBG - Free Report) by 7,525.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 21,579 shares of the company's stock after acquiring an additional 21,296 shares during the quarter. US Bancorp DE's holdings in Corebridge Financial were worth $646,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in CRBG. QRG Capital Management Inc. lifted its stake in Corebridge Financial by 6.9% in the fourth quarter. QRG Capital Management Inc. now owns 278,445 shares of the company's stock valued at $8,334,000 after buying an additional 18,019 shares in the last quarter. Oppenheimer & Co. Inc. grew its stake in shares of Corebridge Financial by 41.9% in the fourth quarter. Oppenheimer & Co. Inc. now owns 20,577 shares of the company's stock valued at $616,000 after acquiring an additional 6,077 shares in the last quarter. New York Life Investment Management LLC bought a new stake in Corebridge Financial during the fourth quarter worth about $781,000. Los Angeles Capital Management LLC lifted its position in Corebridge Financial by 186.5% during the fourth quarter. Los Angeles Capital Management LLC now owns 108,375 shares of the company's stock worth $3,244,000 after purchasing an additional 70,553 shares during the period. Finally, Amalgamated Bank lifted its holdings in shares of Corebridge Financial by 14.1% in the fourth quarter. Amalgamated Bank now owns 15,387 shares of the company's stock worth $461,000 after acquiring an additional 1,896 shares during the last quarter. Institutional investors and hedge funds own 98.25% of the company's stock.

Corebridge Financial Price Performance

CRBG stock opened at $31.25 on Wednesday. The firm has a 50 day moving average price of $32.37 and a 200-day moving average price of $30.89. Corebridge Financial, Inc. has a 52-week low of $23.97 and a 52-week high of $35.36. The firm has a market capitalization of $17.37 billion, a price-to-earnings ratio of 8.27, a PEG ratio of 0.43 and a beta of 0.92. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.13 and a current ratio of 0.13.

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Corebridge Financial (NYSE:CRBG - Get Free Report) last announced its quarterly earnings data 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%. Equities research analysts forecast that Corebridge Financial, Inc. will post 5.43 EPS for the current fiscal year.

Corebridge Financial Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 17th will be paid a $0.24 dividend. The ex-dividend date is Monday, March 17th. This represents a $0.96 annualized dividend and a yield of 3.07%. This is a boost from Corebridge Financial's previous quarterly dividend of $0.23. Corebridge Financial's payout ratio is presently 25.40%.

Analysts Set New Price Targets

CRBG has been the subject of a number of research reports. BMO Capital Markets began coverage on shares of Corebridge Financial in a report on Thursday, January 23rd. They issued an "outperform" rating and a $43.00 price objective for the company. Deutsche Bank Aktiengesellschaft raised shares of Corebridge Financial from a "hold" rating to a "buy" rating and lifted their price target for the company from $33.00 to $40.00 in a research report on Friday, January 10th. Barclays upgraded Corebridge Financial from an "equal weight" rating to an "overweight" rating and set a $37.00 target price on the stock in a research note on Monday, January 6th. Morgan Stanley raised Corebridge Financial from an "equal weight" rating to an "overweight" rating and lifted their target price for the company from $35.00 to $43.00 in a report on Friday, February 28th. Finally, Wells Fargo & Company upped their price objective on shares of Corebridge Financial from $35.00 to $38.00 and gave the stock an "overweight" rating in a research report on Wednesday, February 19th. Two research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $37.29.

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.

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