Corebridge Financial, Inc. (NYSE:CRBG) Shares Purchased by Vanguard Group Inc.

Vanguard Group Inc. grew its stake in Corebridge Financial, Inc. (NYSE:CRBG - Free Report) by 3.1% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 23,925,256 shares of the company's stock after purchasing an additional 711,857 shares during the period. Vanguard Group Inc. owned approximately 4.21% of Corebridge Financial worth $716,083,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of CRBG. Point72 Asia Singapore Pte. Ltd. purchased a new position in Corebridge Financial during the third quarter worth $27,000. Fortitude Family Office LLC bought a new position in Corebridge Financial during the 4th quarter valued at about $27,000. FNY Investment Advisers LLC purchased a new stake in Corebridge Financial in the 4th quarter worth about $27,000. Smartleaf Asset Management LLC lifted its stake in Corebridge Financial by 112.4% in the fourth quarter. Smartleaf Asset Management LLC now owns 907 shares of the company's stock worth $27,000 after purchasing an additional 480 shares during the last quarter. Finally, Blue Trust Inc. boosted its position in shares of Corebridge Financial by 183.2% during the fourth quarter. Blue Trust Inc. now owns 1,127 shares of the company's stock valued at $33,000 after buying an additional 729 shares during the period. Hedge funds and other institutional investors own 98.25% of the company's stock.

Corebridge Financial Stock Performance

CRBG stock traded up $0.39 during trading on Wednesday, hitting $31.98. 4,202,567 shares of the company traded hands, compared to its average volume of 3,565,823. 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, Inc. has a 1 year low of $23.97 and a 1 year high of $35.36. The stock's 50-day simple moving average is $32.72 and its 200 day simple moving average is $31.32. The company has a market cap of $17.78 billion, a PE ratio of 8.46, a P/E/G ratio of 0.43 and a beta of 0.92.

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Corebridge Financial (NYSE:CRBG - Get Free Report) last announced its quarterly 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%. On average, equities analysts expect that Corebridge Financial, Inc. will post 5.43 earnings per share for the current fiscal year.

Corebridge Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 17th were given a dividend of $0.24 per share. The ex-dividend date was Monday, March 17th. This is a boost from Corebridge Financial's previous quarterly dividend of $0.23. This represents a $0.96 dividend on an annualized basis and a yield of 3.00%. Corebridge Financial's dividend payout ratio is currently 25.40%.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. Deutsche Bank Aktiengesellschaft upgraded Corebridge Financial from a "hold" rating to a "buy" rating and boosted their price objective for the company from $33.00 to $40.00 in a report on Friday, January 10th. Barclays raised shares of Corebridge Financial from an "equal weight" rating to an "overweight" rating and set a $37.00 price target on the stock in a research note on Monday, January 6th. UBS Group lowered shares of Corebridge Financial from a "buy" rating to a "sell" rating and decreased their price objective for the company from $40.00 to $28.00 in a report on Wednesday. Morgan Stanley upgraded shares of Corebridge Financial from an "equal weight" rating to an "overweight" rating and upped their target price for the stock from $35.00 to $43.00 in a research note on Friday, February 28th. Finally, Piper Sandler lifted their price target on shares of Corebridge Financial from $35.00 to $38.00 and gave the company an "overweight" rating in a research note on Wednesday. One analyst has rated the stock with a sell rating, two have given a hold rating and twelve have issued a buy rating to the company's stock. Based on data from MarketBeat, Corebridge Financial has an average rating of "Moderate Buy" and a consensus price target of $37.00.

About Corebridge Financial

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.