Zurcher Kantonalbank Zurich Cantonalbank Has $1.94 Million Stock Holdings in Corebridge Financial, Inc. (NYSE:CRBG)

Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Corebridge Financial, Inc. (NYSE:CRBG - Free Report) by 15.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 64,651 shares of the company's stock after purchasing an additional 8,815 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank's holdings in Corebridge Financial were worth $1,935,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Public Employees Retirement System of Ohio increased its stake in shares of Corebridge Financial by 11.3% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 167,038 shares of the company's stock worth $4,871,000 after purchasing an additional 16,970 shares during the last quarter. Virtu Financial LLC bought a new stake in shares of Corebridge Financial during the 3rd quarter worth about $581,000. New York Life Investment Management LLC bought a new stake in shares of Corebridge Financial during the 4th quarter worth about $781,000. State Street Corp boosted its holdings in shares of Corebridge Financial by 11.7% during the 3rd quarter. State Street Corp now owns 8,035,438 shares of the company's stock worth $234,313,000 after buying an additional 843,559 shares during the period. Finally, Qsemble Capital Management LP bought a new stake in shares of Corebridge Financial during the 3rd quarter worth about $2,370,000. 98.25% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

CRBG has been the subject of several research analyst reports. BMO Capital Markets initiated coverage on shares of Corebridge Financial in a report on Thursday, January 23rd. They set an "outperform" rating and a $43.00 target price for the company. Deutsche Bank Aktiengesellschaft raised shares of Corebridge Financial from a "hold" rating to a "buy" rating and lifted their target price for the stock from $33.00 to $40.00 in a report on Friday, January 10th. Wells Fargo & Company lifted their target price on shares of Corebridge Financial from $35.00 to $38.00 and gave the stock an "overweight" rating in a report on Wednesday, February 19th. TD Cowen lifted their target price on shares of Corebridge Financial from $35.00 to $37.00 and gave the stock a "buy" rating in a report on Wednesday, November 27th. Finally, DOWLING & PARTN downgraded shares of Corebridge Financial from a "strong-buy" rating to a "hold" rating in a report on Tuesday, November 26th. Two analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, Corebridge Financial currently has an average rating of "Moderate Buy" and a consensus price target of $37.29.

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Corebridge Financial Price Performance

Shares of NYSE:CRBG traded down $0.09 during midday trading on Thursday, hitting $32.46. The stock had a trading volume of 2,371,337 shares, compared to its average volume of 3,509,938. The company's 50-day moving average price is $32.50 and its 200-day moving average price is $31.00. The company has a market capitalization of $18.05 billion, a P/E ratio of 8.59, a price-to-earnings-growth ratio of 0.43 and a beta of 0.92. The company has a quick ratio of 0.13, a current ratio of 0.13 and a debt-to-equity ratio of 0.16. Corebridge Financial, Inc. has a fifty-two week low of $23.97 and a fifty-two week high of $35.36.

Corebridge Financial (NYSE:CRBG - Get Free Report) last issued its 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%. As a group, equities research analysts predict that Corebridge Financial, Inc. will post 5.43 EPS 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. Stockholders of record on Monday, March 17th will be given a $0.24 dividend. The ex-dividend date is Monday, March 17th. This is a boost from Corebridge Financial's previous quarterly dividend of $0.23. This represents a $0.96 annualized dividend and a dividend yield of 2.96%. Corebridge Financial's payout ratio is presently 25.40%.

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.